Boat Financing Question

ruckstande

Posts mostly from the shitter.
Apr 2, 2005
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#1
I would like to purchase a houseboat to live on. Does anyone know of a reputable company I can apply for financing for a loooooongterm loan?
 
Dec 25, 2005
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NJ
#3
There are a few houseboat communities out on the north shore of LI. They never move though. Search some yacht brokers.. though most are sold privately. I have a card or two somewhere... I'll PM ya if I find em.

Also, houseboats are the most dangerous vessels out there IMO.. Top heavy. Buy a 30+ foot powerboat.
 

ruckstande

Posts mostly from the shitter.
Apr 2, 2005
15,228
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693
South Jersey
#4
There are a few houseboat communities out on the north shore of LI. They never move though. Search some yacht brokers.. though most are sold privately. I have a card or two somewhere... I'll PM ya if I find em.

Also, houseboats are the most dangerous vessels out there IMO.. Top heavy. Buy a 30+ foot powerboat.
Thanks, although I don't plan on going anywhere really. I just want to dock it and use it as a liveaboard. I was going to get an estimate from Yachtworld.com but I don't know anything about them so I am a little leery sending someone my SS#.
 

Creasy Bear

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#5
I would like to purchase a houseboat to live on. Does anyone know of a reputable company I can apply for financing for a loooooongterm loan?
Before you buy, I'd caution you to think it through long and hard.

Buying a boat is about one of the worst things you can do with your money short of sending it to the guy in Nigeria you got that e-mail from.

Boats depreciate in value at a frightening rate. If you buy a houseboat and finance it over a loooooong time you'll probably end up paying for it twice over and when you're done you'll probably have nothing to show for it... matter of fact, the boat will probably have sunk before you're even done paying for it.

If you buy a house... it'll probably go up in value, and you'll always have the value of at least the land it sits on.


btw, Quincy... if you buy a houseboat, you'll also have to get a broad in a bikini with an ass as flat as a board so you can examine her.

linger looooonger!
 
Apr 22, 2005
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Bucks Co., PA
#6
Ever owned a boat before?

I'm sure Nosurvivors can chime in on this too, but new boats depreciate faster than cars. I would suggest looking into a used one if you haven't already. It will effect your financing some, but the savings will more than make up for it.
 

BCH

Doesn't need your acknowledgement on Twitter
Wackbag Staff
Jun 9, 2005
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New York
#7
Before you buy, I'd caution you to think it through long and hard.

Buying a boat is about one of the worst things you can do with your money short of sending it to the guy in Nigeria you got that e-mail from.

Boats depreciate in value at a frightening rate. If you buy a houseboat and finance it over a loooooong time you'll probably end up paying for it twice over and when you're done you'll probably have nothing to show for it... matter of fact, the boat will probably have sunk before you're even done paying for it.

If you buy a house... it'll probably go up in value, and you'll always have the value of at least the land it sits on.


btw, Quincy... if you buy a houseboat, you'll also have to get a broad in a bikini with an ass as flat as a board so you can examine her.

linger looooonger!

Actually, sending money to the nigerian guy is a better investment.

Buying a boat is much more easily understood if you replace the word "boat" with "hunk of shit". Because that's what you're going to have in 10 years even if you buy a brandy spankin' new boat.

Excuse me sir, I'd like a mortgage so I can buy a hunk of shit.

You can however rid yourself of an annoying spouse by greasing the gangway. linger longer.
 
Dec 25, 2005
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#9
Bet On Another Thousand

I could easily spend more time working on the two I have than actually working for money, and I know what I'm doing. I've see boats retain their value to some degree, but it's not easy. If you fall behind, you're fucked. No shower, no heat, no power, and good help is expensive and hard to find at times. Morons and ripoffs are everywhere.

Living aboard is risky, but doable. You've gotta know how to take care of the things though.
 
Dec 25, 2005
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NJ
#10
Actually, sending money to the nigerian guy is a better investment.

Buying a boat is much more easily understood if you replace the word "boat" with "hunk of shit". Because that's what you're going to have in 10 years even if you buy a brandy spankin' new boat.

Excuse me sir, I'd like a mortgage so I can buy a hunk of shit.

You can however rid yourself of an annoying spouse by greasing the gangway. linger longer.
My J/24 is over 30 years old, and I have a 19' lightning that's almost 40 (needs some tlc)

I don't live on them... the bigger they are, the worse it can get. I could be a billionaire & I probably wouldn't get anything over 30 feet.

Don't for get a USCG approved rock coat mon!
 

gleet

What's black and white and red all over?
Jul 24, 2005
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Idaho
#11
Like the old man says,

It it floats, flies, or fucks... rent it.
 

Hudson

Supreme Champion!!!!!
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Jan 14, 2002
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#13
Plan on spending 10000 a year in upkeep?...hull Care alone can cost 5000 per 6 months I worked 3 years in the off season scraping hulls free...we got paid shit but the boat owner paid through the nose
 

Sinn Fein

Infidel and White Interloper
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Aug 29, 2002
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Florida's Nature Coast
#15
Quincy had a sailboat, not a houseboat from what I recall...

You definitely want to go used... As others have said, the cost savings are astronomical...
 

Hudson

Supreme Champion!!!!!
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Jan 14, 2002
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#16
Read Catboat Summers...good to learn about the cost of a boat....plus that my Uncle wrote it and adorable pictures of me in it!
 
Dec 25, 2005
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NJ
#17
We spend more money on sails. Have an expensive keel issue with the 24, so I'm probably gonna sell it & get another.
 

Creasy Bear

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#18
We spend more money on sails. Have an expensive keel issue with the 24, so I'm probably gonna sell it & get another.
I used to crew on a J/120. I once went with the owner of the boat to pick up a new kevlar genoa and main sail set. I swear to God I nearly fell over when I saw the receipt.

I had been considering getting my own boat... the shock of seeing how much he paid for those sails knocked the notion of sailboat ownership right the fuck out of my head.

Wise words...

It's better to have a friend who owns a boat, than to have your own boat.
 
Dec 25, 2005
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NJ
#21
I used to crew on a J/120. I once went with the owner of the boat to pick up a new kevlar genoa and main sail set. I swear to God I nearly fell over when I saw the receipt.

I had been considering getting my own boat... the shock of seeing how much he paid for those sails knocked the notion of sailboat ownership right the fuck out of my head.

Wise words...

It's better to have a friend who owns a boat, than to have your own boat.
The 109, 120, etc crowd are some rich motherfuckers.. I've crewed on a few 109s & regularly on 105s and 80s.

Even for the J/24 sails are 1K a piece. I've found cheaper, but they're not as good as Skelley's stuff. Can't justify the cost unless we campaign the boat.
 

Creasy Bear

gorgeousness and gorgeousity made flesh
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Mar 10, 2006
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#22
The 109, 120, etc crowd are some rich motherfuckers.. I've crewed on a few 109s & regularly on 105s and 80s.

Even for the J/24 sails are 1K a piece. I've found cheaper, but they're not as good as Skelley's stuff. Can't justify the cost unless we campaign the boat.
I didn't have nearly 120 cash. I was looking at a lightly used J/80. I love the J/80. I finally decided I didn't have the time to devote to sailing to justify the cost, so I ended up getting a brandy ass new tricked out Vanguard 49er. It was the right choice... I sailed the piss out of that thing and I still got some good money for it when I sold it.
 

THE FEZ MAN

as a matter of fact i dont have 5$
Aug 23, 2002
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#23
didnt' we have this discussion before? as a former boat guy i have to jump on the "dont fucking do it" band waggon, but i will, buy a shitty house in a "re vitalization" neighborhood at least it wont sink, maybe get burnt down and robbed... but not be worthless when your done
 
Jul 13, 2006
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#24
Where are you going to be living on this houseboat? Watch out for pirates!
 

THE FEZ MAN

as a matter of fact i dont have 5$
Aug 23, 2002
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#25
skinnies in the water
skinnies in the water!