Waterfront (2nd) home or a boat you can spend weekends on?

The Senior Chief and I (I retire as a USN Chief, out of respect my wife only assumed 1 paygrade above LOL) currently live near multiple lakes around Spokane, WA. We have been boating and mooring on Lake Coeur d alana for the past 10 years. Our "boat vs house" decision comes down to $$$$. Homes on lake CDA are astronomically high even before COVID. So we have always thought of our boats as our lake houses. Plus we can cruise to 3 different city/ towns and multiple boat-in-only campgrounds. And NO grass to cut.
I foresee a bigger cruiser or switch to large houseboat in our future.
 
We have 23 acres and a 3K sq ft home that we built ourselves in 2000. We also own a rental 3/2 ranch on 4.5 acres next door. Both paid for.

We can't get rid of our home, we have been here 33 yrs. And I got too much "stuff" to move.

We are going to sell the rental.

We already have the boat- 440CV and spend as much time as possible there-3hrs away in Savannah.

We are currently looking at "second" homes in two areas- Lake Sinclair (Ga) and Sebastian, Fl.

Sinclair is close and I can leave the small CC there in the boathouse (must have a boathouse).

We grew up in the Sebastian area, I think we will wind up there, been looking at riverfront homes.

Another option the family (son and two nephews, we are business partners in our 4 companies) is discussing, is buying a marina and working/living there. Son has his eye on a 60' Viking. We've looked at 3 marinas this year but no match yet.

We're just playing it "by ear" right now, we'll see how it plays out.
 
MoonRiver said:
The Senior Chief and I (I retire as a USN Chief, out of respect my wife only assumed 1 paygrade above LOL) currently live near multiple lakes around Spokane, WA. We have been boating and mooring on Lake Coeur d alana for the past 10 years. Our "boat vs house" decision comes down to $$$$. Homes on lake CDA are astronomically high even before COVID. So we have always thought of our boats as our lake houses. Plus we can cruise to 3 different city/ towns and multiple boat-in-only campgrounds. And NO grass to cut.
I foresee a bigger cruiser or switch to large houseboat in our future.
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Nice to have another Chief onboard, I retired as an HTC
 
GirlyGirl1999 said:
Nice to have another Chief onboard, I retired as an HTC
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I retired as a GMC. Spent 15 of 20yrs as SWCC boat driver. I guess boating is in my blood. I don't haul-ass everywhere anymore and after this last season of stupid moron NEW boat owners I don't like driving at night much anymore. After years of "working" on the water at night it's just so peaceful. I used to go out on the weather decks or catwalks while the ships where crossing the Atlantic at night, nothing like it.
 
MoonRiver said:
I retired as a GMC. Spent 15 of 20yrs as SWCC boat driver. I guess boating is in my blood. I don't haul-ass everywhere anymore and after this last season of stupid moron NEW boat owners I don't like driving at night much anymore. After years of "working" on the water at night it's just so peaceful. I used to go out on the weather decks or catwalks while the ships where crossing the Atlantic at night, nothing like it.
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I’m. With you shipmate. We are in the same situation, we don’t go fast and never at night on the weekends. Having spent most of my time in San Diego on 6 different ships I made it around the planet twice and all over the South Pacific, nothing like the humm of the ship with nothing but ocean and stars. I retired in 99 with 21 when the Queen really didn’t want to do another deployment when she was getting ready to deliver twins 2A and 2B.
 
sbw1 said:
Another way of asking the question is do you want to spend a lot of money on an appreciating asset or spend a lot of money on a depreciating asset?
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I’ll take a crack at this. I’ll take “B” I refer you to Stee0423 Post #21. If I wanted to live lake front with a pier, I will use my old neighbors numbers, 10 years ago, 395,000 for 2 acres and a double wide that should have been removed and destroyed, He is VERY handy, 10 years younger and has the time to take off and fix things up. He has done a great job. However comma pontoon boat, no canvas, no A/C-Heat, no head, no galley, no BBQ (although that he could add). So this would not be a second house it would be our ONLY house. I’ll take my mobile camper any day.

Just another sunset from our slip.

D11E35ED-44BF-4385-9F35-F362089FFD2B.jpeg
 
NorCal Boater said:
I would much rather be out on the water looking at the shore than on the shore looking at the water....all things equal.
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So very true. Every time I am on shore and see a boat go by , or not for that matter, I feel like I am missing out on something. I could never not have a boat. Period.
 
Blueone said:
Boat.... Last thing I want is another house to take care of..(but I have no problem taking care of the boat)....plus being stuck in the same place. That is why we havn't bought something in Florida... I rent down there and choose different homes and places.
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Hey Blueone- This is our plan also. What places have you liked so far in Fla and how do you go about finding the places??? Thx Mark
 
You really can't go wrong with any place from Tampa to Naples. You can get pretty cold in the big bend area and north like Panama City /Destin during winter months. I lived in the Sarasota/Bradenton area for about 12 years. Then 30 miles west of Daytona Beach for another 15 years. I never cared for the Atlantic side of Florida and we planned on moving back to the gulf side once we both retired. Becoming caregivers changed plans and why we're back in Michigan. At this point we won't move back. We will look into renting for a few months along the gulf coast once we can.
 
villain style said:
Hey Blueone- This is our plan also. What places have you liked so far in Fla and how do you go about finding the places??? Thx Mark
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The only concern I have with renting is how I will be able to ensure I get on the water while I am down there. If I am down for 3 months, I have to be on the water and I need to have a boat.

One thing I am considering as an alternative to buying is a long term rental. I know it would be cheaper to buy, all things equal, but the advantage of not tying up the better part of a million dollars and saving the ownership risks might be a good offset. Simple math, if as an alternative to paying say $US800K for a place in Punta Gorda, I invested that $800K in a dividend paying portfolio of Canadian Bank stocks I would earn dividends of about $32K a year plus maybe some capital appreciation. That could go towards an annual rental and be "flat". But not sure what $32K a year gets you in Punta Gorda for an unfurnished house.
 
I have a friend since our early 20's and he has a condo in the Keys. Everytime he goes there I get a text, you coming? AndI mean every time. The problem I have with that is I know I would end up buying in his complex.

I guess my point in posting this is there are companies that will manage your condo as a rental, all you need to do is block off your weeks/months and your good to go. My friend does that and it basically pays for the unit. This I am considering but not sure I want to drive to the keys from Annapolis with a 20' CC tagging along.
 
If I could afford to live in the Keys, I’d already be there, favorite place:)
 
villain style said:
Hey Blueone- This is our plan also. What places have you liked so far in Fla and how do you go about finding the places??? Thx Mark
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When its family we go to Cape Coral area and rent a house on a canal and rent a boat....travel daily by boat
If its couples we go to Key West and rent a house.
To find the places its just search the internet...we dont do AirB&B....its usually a person or broker renting or in key west there are companies in Old town
 
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