Least expensive lakefront property

jrc · 09-13-2005, 11:25 PM

I've decided to sell my condo, buy a bigger boat and either lease or buy a slip. This seems to be the cheapest way to be lakefront. Anybody else on the forum doing this? Any advice on good marinas?

billhurley · 09-14-2005, 05:58 AM

West Alton Marina. It is a great place with lots of extras.

silverton2001 · 09-14-2005, 09:31 AM

Quote:

Originally Posted by jrc

I've decided to sell my condo, buy a bigger boat and either lease or buy a slip. This seems to be the cheapest way to be lakefront. Anybody else on the forum doing this? Any advice on good marinas?

We have done that for five years, and we ended up not staying overnight on the boat(sleeps 4 comfortably), coming in early from on the lake so we wouldn't get home too late, then not coming up the next day because things needed to get done at home. We finally bought a new waterfront condo in Paugus Bay, the boat is docked steps away, we stay for the whole weekend, and make long weekends when possible, and enjoy and relax and wished we had done it sooner. Your idea is cheaper, but I think you will find you will regret it later. If that is what you can afford, you are still getting the chance to enjoy the lake and the area. We were at Mountain View Y/C, and the slip we had will probably rent out for 5k next season. The club was nice and they had everthing you would need as far as emenities. Good luck in your choices.

PROPELLER · 09-14-2005, 09:40 AM

Whether you buy or rent depends on how many years you intend to do this. If its for a short period of time I would definitely rent a slip. If you intend to do this indefinitely which could turn into 20-30 years I would definitely buy if you can afford it.

As far as marinas you need to think about what part of the lake you want to be on & how protected is it. I would never consider Spinnaker Cove because I do not want to have to pass through the Weirs channel every time I go to the big part of the lake & return.

What I mean about protection is boat wakes, wind & wave action from wind. It can be very difficult to dock a large boat on a windy day. You also do not want to be rocking alot when boats go by or its windy, especially when you are trying to sleep. MVYC & West Alton Marine have great protection from wind & waves.

Good Luck, I love it myself even its only weekends & vactions for now. I'm not retired yet.

Aquadeziac · 09-14-2005, 12:12 PM

We are doing the same thing. We bought the live-aboard and are renting a slip. We have spent almost 40 nights on the boat since Memorial Day. We love it. Untie and leave to cruise the lake whenever you want. We are at Gilford Yacht Club, which is a relatively small club(only 60 odd slips), everyone is friendly, great atmosphere. I understand from a friend that West Alton is great too but there is a long waiting list for slips. I think there may actually be 2 or 3 slips for rent at GYC. Purchasing slips can be expensive too. Prices under $80,000 are almost non-existant. There is one slip for sale in Meredith for $179,900. Rentals range from around $4000 to about $6500 depending on location and whether the place is wholly owned or condo-assn. and individually owned. We have always loved camping and loved boating, so this is the best of both worlds. Have fun!

codeman671 · 09-14-2005, 04:18 PM

Quote:

Originally Posted by Aquadeziac

We are doing the same thing. We bought the live-aboard and are renting a slip. We have spent almost 40 nights on the boat since Memorial Day. We love it. Untie and leave to cruise the lake whenever you want. We are at Gilford Yacht Club, which is a relatively small club(only 60 odd slips), everyone is friendly, great atmosphere. I understand from a friend that West Alton is great too but there is a long waiting list for slips. I think there may actually be 2 or 3 slips for rent at GYC. Purchasing slips can be expensive too. Prices under $80,000 are almost non-existant. There is one slip for sale in Meredith for $179,900. Rentals range from around $4000 to about $6500 depending on location and whether the place is wholly owned or condo-assn. and individually owned. We have always loved camping and loved boating, so this is the best of both worlds. Have fun!

I don't mean to hijack the thread but Aquadeziac if there are some slips for rent already for next season in GYC can you put me in touch with the proper people? I am on a private dock next to the club but want a more convenient spot with more parking than my current arrangement allows.

As far as getting back to the conversation at hand we looked long and hard at buying a large liveaboard (42' Regal) but decided that instead of seeing it depreciate rapidly we'd rather spend the extra $$$ and own on an island. We already are up quite a bit in value in just the last year alone (we built). If simply the pleasure of being at the lake and keeping it simple is what you are looking for then I'd say go for it. If you are looking long term then think twice. "Boats are holes in the water..." you all know the rest of this saying for sure!

Silver Duck · 09-14-2005, 07:20 PM

My wife and I have been weekending and taking vacations aboard our cruiser for 4 years, and love the "marina lifestyle". In fact, we just bought a new 29 footer to get a bit more living space! You can't get more "waterfront" than a cruiser, and we enjoy the convenience of having everything with us when we go lake running!

But, marina life is not for everyone. One downside is that shoreside amenities such as showers need to be shared with other families, and are not always instantly available. And, keep in mind that marinas are much like a very small village. You'll be in close proximity to your dockmates and you'll need people skills to get the most enjoyment from marina life!

Another consideration is the "atmosphere". Some places are very laid back and casual, some have a gazillion rules. I've heard that in some yacht clubs renters are treated like second class citizens and do not enjoy all the privileges that owners do (e.g., no pets). I'd strongly suggest talking to some of the people at each marina that you are considering to see what life is like there!

As for location, it's always a tradeoff. Folks at the Paugus Bay marinas and Yacht Clubs have to face the dreaded channel to reach the main part of the lake, but are close to lots of activities and stores. Highly sheltered locations like West Alton, Silver Sands, and MVYC eliminate "wake dancing" at your slip, but generally have less than sparkling clean water. In Meredith, you don't get heavy wakes and the water is fairly clean, but you do get lots of bustle and motorcycle noise, and in marinas open to the lake you get bounced around by wakes, but this same wake action keeps the water sparkling clean!

You'll just have to weigh the pros and cons and decide which combination is best for you! But, all things considered, I wouldn't trade marina life for anything else!

Silver Duck

BroadHopper · 09-15-2005, 07:33 AM

We are not talking about 'lakefront' property here. We are talking about 'laketop property'!

Woodsy · 09-15-2005, 08:01 AM

Just some food for thought....

Your condo will appreciate in value... while a boat will depreciate, usually in a very dramatic fashion. Maybe refi the condo to buy the bigger boat? Might be better financially in the long haul...

Woodsy

jrc · 09-15-2005, 09:29 AM

Woodsy is right, our condo has appreciated in value, while our boat has depreciated. But I'll invest the condo proceeds so that should still appreciate. The boat depreciation is just a cost of owning a boat. A condo slip might have some upside, but they do seem a little inflated today.

Beyond the money issues, I looking at the lifestyle issues. My parents did the marina thing, so I have some point of reference. They were a several places but most recently at West Alton. I can imagine that some marinas have loud parties every weekend and some places get mad if you make any noise after dark.

Woodsy · 09-15-2005, 10:14 AM

JRC...

I probably should have been a little clearer. Your condo will continue to appreciate, (and even given a market correction of 10% to 20% if the alleged bubble bursts you will still be ahead of the game) while the value of whatever boat you buy depreciates, rapidly and it will take a bigger hit in depreciation if the Real Estate corrects (because nobody will be buying boats). Its really not the boat depreciation thats a killer, as you can somewhat mitigate that by purchasing a low hour used boat. Its the boat depreciation in tandem with the ever escalating costs of boat ownership... ie: yearly slip rental increases, yearly user fee increases for whatever marina your in, increased taxes (if you happen to be lucky enough to buy a slip) etc. These costs will escalate far faster than the leftover money from the condo will appreciate regardless of how you invest it.

You are far better off refinancing the condo at a low rate to get whatever boat you want and then get a slip for it. The interest rate on the condo will be better than what you could get on a boat. That way you can write off the interest, rent your condo to year round tenant to mitigate your costs, and still have all the benefits of a piece of property that appreciates in value... If you decide marina living is not for you, you still have the condo to fall back on...

I went to a seminar many moons ago (1989?) where Warren Buffett spoke. It was his opinion that you never trade a real estate asset for an asset that depreciates. Given the money he has made, I think its pretty sage advice.

Woodsy

PROPELLER · 09-15-2005, 10:37 AM

JRC, No matter how you figure it your 1st post that started this thread was right on. Owning a cruiser is the cheapest way to be waterfront even with boat depreciation. But it all depends on what you want, when you bought your condo etc. There are alot of things to consider. I love marina life & I know its cheaper because I am able to afford it but could never come close to affording waterfront or even a condo off the water.

All of the posters make good points & are correct in the things they posted but if cheapest is what you are looking for, owning a cruiser docked at a marina is the cheapest waterfront hands down.

Good luck

jrc · 09-15-2005, 11:58 AM

Woodsy, I think we are talking about two different things. First, is condo real estate on Lake Winnipesaukee a good investment. Second, is a marina boat a cost effective and enjoyable lifestyle.

I really didn't want to dive into the investment issue. There are lots of opinions on what's the best place to invest money. I never consider any boat to be an investment, it's a toy I choose to waste money on.

PROPELLER · 09-15-2005, 01:34 PM

Woodsy, Just a few things I wanted to point out & keep in mind I purchased my slip a few years ago before they went crazy with all the other real estate. It was a great investment as it turns out & if I had the money & foresight would have purchased several more but that was not my intent. Also, no one is going to argue that real estate is not a better investment than a boat, of course it is but you don't buy a boat as an investment in the first place. You buy it to have fun. And buying a cruiser to live on & renting/owning a slip is great fun, its a chosen lifestyle for fun. Its not meant to be an investment. Not to mention that you do not have to do any maintenance on a slip & only maintenance during the season on a boat is waxing. Marina living is very easy. If you own a house (not a condo) you may have to mow the grass, paint the house, plant flowers, maintain plumbing/heating, pay utilities etc, etc (need I go on) I have none of that at the marina. People forget all the other expenses that go with home ownership like utilities & the expenses you do have owning a boat at a marina are generally less. Sorry, I got off on a tangent while typing this. So here are the original points I wanted to make.

First, I have an interest rate on my boat that is comparable to interest rates on real estate. Second, taxes on an owned slip will go up but so will taxes on the condo & slip taxes are alot less than what they would be on a condo. Third, user fees on an owned slip can go up but mine has not gone up in 4 years & they can & will go up on the condo also & user fees at a marina are probably less than many condo's.

Gatto Nero · 09-15-2005, 02:56 PM

I always thought if you had a cruiser you could have the best of both worlds if you bought a piece of undeveloped land on an island and a small slip on the mainland. The slip would provide the amenities (shower etc) you need and allow for transportation to and from the island. The island property would be your home away home with the cruiser at the dock. You could live in the comfort of the boat but still have privacy and a place to stretch out. You could also build a shed to store more "stuff" and perhaps build a whole house when you have the time and resources.

I don't know this for a fact, but I think that someone is doing it on either Mink Island or Mark Island.

glennsteely · 09-16-2005, 04:00 AM

You could give me a cardboard box, on the public docks at the Weirs, a canoe, a paddle, a life jacket, a fishing pole and a book, and that would be the greatest lakefront property in the world to me, probably all I could afford too!!! The cottage my Grandparents had on Spindle Point, they had built for under $4000.00 and when it sold, it sold for hundreds of thousands. The boat thing is the only reality for a lot of us.

My Brother and I bought a house on a lake in the Pocono mts. It reminds us of New Hampshire in some ways, and that is why we bought it, but it is not The Lake. It sure was affordable.....the sign on our driveway says: The Steely's 4th and 5th generation cottage by A lake. We thought it was funny, people dont get it, they think the A stands for Arrowhead, which is the name of the lake, but it really means if it is not Winnipesaukee, it is just another puddle of H2o. You guys and gals here will get a kick out of it I am sure, because you all know what I am talking about.

There is no other place in the world like it, my father wont even go up anymore, it is too hard on him emotionally, it is not a pleasant sight seeing your father so upset over leaving somewhere. He gave it to us, this great place that will always remain in our hearts, now my brother, sister and I are trying to give it to our children, there are 6 of them now, and they all love it up at The Lake. When we pack to go on vacation, they all want to know are we going to The Lake or the mountains. Just about every weekend, we are in the Poconos, with a lakefront chalet, but the lake is The Lake and the mountains are the Poconos. (really only hills)

It is really a cheap substitute, but it is one we can afford.

Oh, and by the way, if anyone is going to get me my lakefront cardboard box with all the extras I mentioned......please throw in a lobster roll from Waldo Peppers!!!! I will be hungry from the 8 hour drive!!

ApS · 09-18-2005, 06:41 PM

A London architect designed this self-sufficient transparent solar house for the Thames River. The lowest section is for underwater viewing. Just $45,000.

But the possibilities for here?

Like buy Becky's Garden Island, or a rock on some other island, and....

KTO · 09-19-2005, 08:35 AM

Ha ha! Now that's the way to go!

glennsteely · 09-19-2005, 11:42 PM

Looks To Have More Room Than My Cardboard Box!! :d

ITD · 09-20-2005, 07:21 AM

Quote:

Originally Posted by Acres per Second

A London architect designed this self-sufficient transparent solar house for the Thames River. The lowest section is for underwater viewing. Just $45,000.

But the possibilities for here?

Like buy Becky's Garden Island, or a rock on some other island, and....

That's the price for the design, how much to build it?

ApS · 09-20-2005, 10:54 AM

The original source, October's Popular Science:

Quote:

"Architect Marcin Panpuch hopes his floating, transparent sphere will someday be home to trendy, mobile and penny-pinching urbanites. Panpuch's Future House, 50-feet in diameter, is designed to give Londoners a panoramic river view. Solar cells on the instrial-strength plastic shell generate power, and you don't have to worry about landscaping. The shape not only affords jaw-dropping views but also saves on energy — spheres have 25 percent less surface area than cubes, reducing heat loss. Estimated cost: $45,000."

Phew. 'Just typed all that in from the magazine, now I see the same text is available at: http://www.popsci.com/popsci/printer...cbccdrcrd.html

The www.marcinpanpuch.com link itself wasn't helpful.

There are other floating houses on the Internet, but I could see an outboard attached to this one -- then tied to a dock.

Mee-n-Mac · 09-21-2005, 07:02 PM

Quote:

Originally Posted by Acres per Second

{snip}

There are other floating houses on the Internet, but I could see an outboard attached to this one -- then tied to a dock.

Since were going OT here ... here's one of the others
http://www.sub-find.com/jellyfish.htm
but at $2.5M (as in million) I wouldn't call it the least expensive. That said it does make the aforementioned one look like a good bargain.

Cobalt 232 · 09-22-2005, 02:27 AM

I did this for 4 years and it was great. Only problem as the kids got bigger a 28' boat was simply too small for a family of 4. If it was just the wife and I then it would have worked nicely. The best thing about doing this was that you were always on the water. Breakfast in Meredith, lunch in a cove finally dinner in Wolfboro.

Check out Lakeport Landing as a possibility. Problem there is you would have to purchace a Formula from them, which is not really a problem since they are a great dealer and Formula makes some beautiful boats. In a perfect world I would have purchased a slip at Mountain View Yacht Club and stayed there. I suppoose the impoetant factor in choosing a Marina is what direction you will be coming from when you are getting to the lake. For us we were coming from Boston and Lakeport Landing on Pagus Bay was the closest location for us. Another bonus in this scenario is that Lakeport Landing usually has the best gas prices on the lake. I guess that this helps keep their customers happy too.

KTO · 09-22-2005, 08:35 AM

I think If I lived at the bottom of the lake with one of those glass houses, you know somewhere in the broads, life would be great....not easy, just great!

batman forever · 10-10-2005, 05:27 PM

Want my 2 cents? No? Well here it is anyway. The boat is the way to go if you buy right and can handle some of the maintenance yourself. I purchased my slip in 1991 and have seen it increase in value 5 times it's original cost. My taxes have gone up a few times but are still under $1000. My total expenses for the boat work out to about $4000 per yr including slip taxes, club dues, gas, launches and haul outs and Spring outfitting. I've enjoyed seeing my kids grow up on the most beautiful lake in the world, I still haven't run out of places to explore and I own an older 36' cruiser. If you buy a good used boat like we did your initial investment is manageable and the depreciation won't kill you. Interest is deductible because it's a second home and everywhere you go, your house comes to. You just need to get used to living 3' from your neighbor. My second choice would be a condo but NH property taxes scare the hell out of me. Hope this helps. OLD BOATS RULE.

gtxrider · 10-11-2005, 11:10 AM

Quote:

Originally Posted by KTO

I think If I lived at the bottom of the lake with one of those glass houses, you know somewhere in the broads, life would be great....not easy, just great!

You need to remember the people who live in glass houses need to get dressed in the basement!

jrc · 10-11-2005, 11:43 AM

Well assuming all goes as planned, I'll be closing on the condo this month and the new boat in November. The new boat will be in a rented slip at MVYC. Next spring should be a new experience.

BroadHopper · 10-11-2005, 12:08 PM

What I do is I rent my condo on Winnisquam year round. I keep the mooring for the boat. Then I Would use the ramp to trailer the boat to Winnipesaukee. That way I don't have to pay for a mooring or launch fees. The condo is appreciating in value while all expenses are paid!

09-13-2005, 11:25 PM	#1
jrc Senior Member Join Date: Apr 2004 Location: NH Posts: 2,689 Thanks: 33 Thanked 439 Times in 249 Posts	Least expensive lakefront property I've decided to sell my condo, buy a bigger boat and either lease or buy a slip. This seems to be the cheapest way to be lakefront. Anybody else on the forum doing this? Any advice on good marinas?

09-14-2005, 12:12 PM	#5
Aquadeziac Senior Member Join Date: Apr 2004 Location: Concord NH Posts: 239 Thanks: 19 Thanked 3 Times in 2 Posts	We are doing the same thing. We bought the live-aboard and are renting a slip. We have spent almost 40 nights on the boat since Memorial Day. We love it. Untie and leave to cruise the lake whenever you want. We are at Gilford Yacht Club, which is a relatively small club(only 60 odd slips), everyone is friendly, great atmosphere. I understand from a friend that West Alton is great too but there is a long waiting list for slips. I think there may actually be 2 or 3 slips for rent at GYC. Purchasing slips can be expensive too. Prices under $80,000 are almost non-existant. There is one slip for sale in Meredith for $179,900. Rentals range from around $4000 to about $6500 depending on location and whether the place is wholly owned or condo-assn. and individually owned. We have always loved camping and loved boating, so this is the best of both worlds. Have fun! __________________ "He who dies with the most toys wins"

09-15-2005, 07:33 AM	#8
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,512 Thanks: 3,118 Thanked 1,090 Times in 784 Posts	Hey! We are not talking about 'lakefront' property here. We are talking about 'laketop property'! __________________ Someday may never be an actual day.

09-15-2005, 09:29 AM	#10
jrc Senior Member Join Date: Apr 2004 Location: NH Posts: 2,689 Thanks: 33 Thanked 439 Times in 249 Posts	Thanks for all the advice Woodsy is right, our condo has appreciated in value, while our boat has depreciated. But I'll invest the condo proceeds so that should still appreciate. The boat depreciation is just a cost of owning a boat. A condo slip might have some upside, but they do seem a little inflated today. Beyond the money issues, I looking at the lifestyle issues. My parents did the marina thing, so I have some point of reference. They were a several places but most recently at West Alton. I can imagine that some marinas have loud parties every weekend and some places get mad if you make any noise after dark.

09-15-2005, 01:34 PM	#14
PROPELLER Senior Member Join Date: Jul 2004 Posts: 340 Thanks: 0 Thanked 0 Times in 0 Posts	Woodsy, Just a few things I wanted to point out & keep in mind I purchased my slip a few years ago before they went crazy with all the other real estate. It was a great investment as it turns out & if I had the money & foresight would have purchased several more but that was not my intent. Also, no one is going to argue that real estate is not a better investment than a boat, of course it is but you don't buy a boat as an investment in the first place. You buy it to have fun. And buying a cruiser to live on & renting/owning a slip is great fun, its a chosen lifestyle for fun. Its not meant to be an investment. Not to mention that you do not have to do any maintenance on a slip & only maintenance during the season on a boat is waxing. Marina living is very easy. If you own a house (not a condo) you may have to mow the grass, paint the house, plant flowers, maintain plumbing/heating, pay utilities etc, etc (need I go on) I have none of that at the marina. People forget all the other expenses that go with home ownership like utilities & the expenses you do have owning a boat at a marina are generally less. Sorry, I got off on a tangent while typing this. So here are the original points I wanted to make. First, I have an interest rate on my boat that is comparable to interest rates on real estate. Second, taxes on an owned slip will go up but so will taxes on the condo & slip taxes are alot less than what they would be on a condo. Third, user fees on an owned slip can go up but mine has not gone up in 4 years & they can & will go up on the condo also & user fees at a marina are probably less than many condo's. Last edited by PROPELLER; 09-15-2005 at 01:46 PM.

09-14-2005, 05:58 AM	#2
billhurley Senior Member Join Date: Apr 2004 Location: St. Augustine FL. Posts: 86 Thanks: 2 Thanked 1 Time in 1 Post	West Alton Marina. It is a great place with lots of extras.

09-14-2005, 09:40 AM	#4
PROPELLER Senior Member Join Date: Jul 2004 Posts: 340 Thanks: 0 Thanked 0 Times in 0 Posts	Whether you buy or rent depends on how many years you intend to do this. If its for a short period of time I would definitely rent a slip. If you intend to do this indefinitely which could turn into 20-30 years I would definitely buy if you can afford it. As far as marinas you need to think about what part of the lake you want to be on & how protected is it. I would never consider Spinnaker Cove because I do not want to have to pass through the Weirs channel every time I go to the big part of the lake & return. What I mean about protection is boat wakes, wind & wave action from wind. It can be very difficult to dock a large boat on a windy day. You also do not want to be rocking alot when boats go by or its windy, especially when you are trying to sleep. MVYC & West Alton Marine have great protection from wind & waves. Good Luck, I love it myself even its only weekends & vactions for now. I'm not retired yet.

09-14-2005, 07:20 PM	#7
Silver Duck Senior Member Join Date: Apr 2004 Location: Billerica, MA Posts: 364 Thanks: 40 Thanked 4 Times in 3 Posts	My wife and I have been weekending and taking vacations aboard our cruiser for 4 years, and love the "marina lifestyle". In fact, we just bought a new 29 footer to get a bit more living space! You can't get more "waterfront" than a cruiser, and we enjoy the convenience of having everything with us when we go lake running! But, marina life is not for everyone. One downside is that shoreside amenities such as showers need to be shared with other families, and are not always instantly available. And, keep in mind that marinas are much like a very small village. You'll be in close proximity to your dockmates and you'll need people skills to get the most enjoyment from marina life! Another consideration is the "atmosphere". Some places are very laid back and casual, some have a gazillion rules. I've heard that in some yacht clubs renters are treated like second class citizens and do not enjoy all the privileges that owners do (e.g., no pets). I'd strongly suggest talking to some of the people at each marina that you are considering to see what life is like there! As for location, it's always a tradeoff. Folks at the Paugus Bay marinas and Yacht Clubs have to face the dreaded channel to reach the main part of the lake, but are close to lots of activities and stores. Highly sheltered locations like West Alton, Silver Sands, and MVYC eliminate "wake dancing" at your slip, but generally have less than sparkling clean water. In Meredith, you don't get heavy wakes and the water is fairly clean, but you do get lots of bustle and motorcycle noise, and in marinas open to the lake you get bounced around by wakes, but this same wake action keeps the water sparkling clean! You'll just have to weigh the pros and cons and decide which combination is best for you! But, all things considered, I wouldn't trade marina life for anything else! Silver Duck

09-15-2005, 08:01 AM	#9
Woodsy Senior Member Join Date: May 2004 Location: Weirs Beach Posts: 1,949 Thanks: 80 Thanked 969 Times in 432 Posts	Just some food for thought.... Your condo will appreciate in value... while a boat will depreciate, usually in a very dramatic fashion. Maybe refi the condo to buy the bigger boat? Might be better financially in the long haul... Woodsy

09-15-2005, 10:14 AM	#11
Woodsy Senior Member Join Date: May 2004 Location: Weirs Beach Posts: 1,949 Thanks: 80 Thanked 969 Times in 432 Posts	JRC... I probably should have been a little clearer. Your condo will continue to appreciate, (and even given a market correction of 10% to 20% if the alleged bubble bursts you will still be ahead of the game) while the value of whatever boat you buy depreciates, rapidly and it will take a bigger hit in depreciation if the Real Estate corrects (because nobody will be buying boats). Its really not the boat depreciation thats a killer, as you can somewhat mitigate that by purchasing a low hour used boat. Its the boat depreciation in tandem with the ever escalating costs of boat ownership... ie: yearly slip rental increases, yearly user fee increases for whatever marina your in, increased taxes (if you happen to be lucky enough to buy a slip) etc. These costs will escalate far faster than the leftover money from the condo will appreciate regardless of how you invest it. You are far better off refinancing the condo at a low rate to get whatever boat you want and then get a slip for it. The interest rate on the condo will be better than what you could get on a boat. That way you can write off the interest, rent your condo to year round tenant to mitigate your costs, and still have all the benefits of a piece of property that appreciates in value... If you decide marina living is not for you, you still have the condo to fall back on... I went to a seminar many moons ago (1989?) where Warren Buffett spoke. It was his opinion that you never trade a real estate asset for an asset that depreciates. Given the money he has made, I think its pretty sage advice. Woodsy

09-15-2005, 10:37 AM	#12
PROPELLER Senior Member Join Date: Jul 2004 Posts: 340 Thanks: 0 Thanked 0 Times in 0 Posts	JRC, No matter how you figure it your 1st post that started this thread was right on. Owning a cruiser is the cheapest way to be waterfront even with boat depreciation. But it all depends on what you want, when you bought your condo etc. There are alot of things to consider. I love marina life & I know its cheaper because I am able to afford it but could never come close to affording waterfront or even a condo off the water. All of the posters make good points & are correct in the things they posted but if cheapest is what you are looking for, owning a cruiser docked at a marina is the cheapest waterfront hands down. Good luck

09-15-2005, 11:58 AM	#13
jrc Senior Member Join Date: Apr 2004 Location: NH Posts: 2,689 Thanks: 33 Thanked 439 Times in 249 Posts	Woodsy, I think we are talking about two different things. First, is condo real estate on Lake Winnipesaukee a good investment. Second, is a marina boat a cost effective and enjoyable lifestyle. I really didn't want to dive into the investment issue. There are lots of opinions on what's the best place to invest money. I never consider any boat to be an investment, it's a toy I choose to waste money on.

09-15-2005, 02:56 PM	#15
Gatto Nero Senior Member Join Date: May 2005 Location: Isola Gatto Nero Posts: 696 Thanks: 162 Thanked 263 Times in 81 Posts	Cruiser & Island Property I always thought if you had a cruiser you could have the best of both worlds if you bought a piece of undeveloped land on an island and a small slip on the mainland. The slip would provide the amenities (shower etc) you need and allow for transportation to and from the island. The island property would be your home away home with the cruiser at the dock. You could live in the comfort of the boat but still have privacy and a place to stretch out. You could also build a shed to store more "stuff" and perhaps build a whole house when you have the time and resources. I don't know this for a fact, but I think that someone is doing it on either Mink Island or Mark Island. __________________ La vita è buona su Isola Gatto Nero

09-16-2005, 04:00 AM	#16
glennsteely Senior Member Join Date: Jun 2004 Location: Mantua, N.J. Posts: 472 Thanks: 90 Thanked 111 Times in 38 Posts	As much as I love the place..... You could give me a cardboard box, on the public docks at the Weirs, a canoe, a paddle, a life jacket, a fishing pole and a book, and that would be the greatest lakefront property in the world to me, probably all I could afford too!!! The cottage my Grandparents had on Spindle Point, they had built for under $4000.00 and when it sold, it sold for hundreds of thousands. The boat thing is the only reality for a lot of us. My Brother and I bought a house on a lake in the Pocono mts. It reminds us of New Hampshire in some ways, and that is why we bought it, but it is not The Lake. It sure was affordable.....the sign on our driveway says: The Steely's 4th and 5th generation cottage by A lake. We thought it was funny, people dont get it, they think the A stands for Arrowhead, which is the name of the lake, but it really means if it is not Winnipesaukee, it is just another puddle of H2o. You guys and gals here will get a kick out of it I am sure, because you all know what I am talking about. There is no other place in the world like it, my father wont even go up anymore, it is too hard on him emotionally, it is not a pleasant sight seeing your father so upset over leaving somewhere. He gave it to us, this great place that will always remain in our hearts, now my brother, sister and I are trying to give it to our children, there are 6 of them now, and they all love it up at The Lake. When we pack to go on vacation, they all want to know are we going to The Lake or the mountains. Just about every weekend, we are in the Poconos, with a lakefront chalet, but the lake is The Lake and the mountains are the Poconos. (really only hills) It is really a cheap substitute, but it is one we can afford. Oh, and by the way, if anyone is going to get me my lakefront cardboard box with all the extras I mentioned......please throw in a lobster roll from Waldo Peppers!!!! I will be hungry from the 8 hour drive!! __________________ You have to go out on a limb sometimes, cause that is where the fruit is. You can't get to the fruit from that nice safe spot, clinging to the trunk of the tree......

09-18-2005, 06:41 PM	#17
ApS Senior Member Join Date: Jan 2005 Location: Florida (Sebring & Keys), Wolfeboro Posts: 5,788 Thanks: 2,085 Thanked 742 Times in 532 Posts	REALLY Least Expensive Lakefront Property A London architect designed this self-sufficient transparent solar house for the Thames River. The lowest section is for underwater viewing. Just $45,000. But the possibilities for here? Like buy Becky's Garden Island, or a rock on some other island, and.... Attached Images

09-19-2005, 08:35 AM	#18
KTO Senior Member Join Date: Aug 2004 Location: Meredith, NH Posts: 391 Thanks: 30 Thanked 117 Times in 26 Posts	Ha ha! Now that's the way to go!

09-19-2005, 11:42 PM	#19
glennsteely Senior Member Join Date: Jun 2004 Location: Mantua, N.J. Posts: 472 Thanks: 90 Thanked 111 Times in 38 Posts	Wow!!!! Looks To Have More Room Than My Cardboard Box!! :d __________________ You have to go out on a limb sometimes, cause that is where the fruit is. You can't get to the fruit from that nice safe spot, clinging to the trunk of the tree......

09-22-2005, 02:27 AM	#23
Cobalt 232 Junior Member Join Date: Jul 2004 Location: Stow, MA Posts: 9 Thanks: 0 Thanked 0 Times in 0 Posts	Living on your boat I did this for 4 years and it was great. Only problem as the kids got bigger a 28' boat was simply too small for a family of 4. If it was just the wife and I then it would have worked nicely. The best thing about doing this was that you were always on the water. Breakfast in Meredith, lunch in a cove finally dinner in Wolfboro. Check out Lakeport Landing as a possibility. Problem there is you would have to purchace a Formula from them, which is not really a problem since they are a great dealer and Formula makes some beautiful boats. In a perfect world I would have purchased a slip at Mountain View Yacht Club and stayed there. I suppoose the impoetant factor in choosing a Marina is what direction you will be coming from when you are getting to the lake. For us we were coming from Boston and Lakeport Landing on Pagus Bay was the closest location for us. Another bonus in this scenario is that Lakeport Landing usually has the best gas prices on the lake. I guess that this helps keep their customers happy too.

09-22-2005, 08:35 AM	#24
KTO Senior Member Join Date: Aug 2004 Location: Meredith, NH Posts: 391 Thanks: 30 Thanked 117 Times in 26 Posts	I think If I lived at the bottom of the lake with one of those glass houses, you know somewhere in the broads, life would be great....not easy, just great!

10-10-2005, 05:27 PM	#25
batman forever Junior Member Join Date: Oct 2005 Posts: 6 Thanks: 0 Thanked 0 Times in 0 Posts	House vs. condo vs.boat Want my 2 cents? No? Well here it is anyway. The boat is the way to go if you buy right and can handle some of the maintenance yourself. I purchased my slip in 1991 and have seen it increase in value 5 times it's original cost. My taxes have gone up a few times but are still under $1000. My total expenses for the boat work out to about $4000 per yr including slip taxes, club dues, gas, launches and haul outs and Spring outfitting. I've enjoyed seeing my kids grow up on the most beautiful lake in the world, I still haven't run out of places to explore and I own an older 36' cruiser. If you buy a good used boat like we did your initial investment is manageable and the depreciation won't kill you. Interest is deductible because it's a second home and everywhere you go, your house comes to. You just need to get used to living 3' from your neighbor. My second choice would be a condo but NH property taxes scare the hell out of me. Hope this helps. OLD BOATS RULE.

10-11-2005, 11:43 AM	#27
jrc Senior Member Join Date: Apr 2004 Location: NH Posts: 2,689 Thanks: 33 Thanked 439 Times in 249 Posts	Update Well assuming all goes as planned, I'll be closing on the condo this month and the new boat in November. The new boat will be in a rented slip at MVYC. Next spring should be a new experience.

10-11-2005, 12:08 PM	#28
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,512 Thanks: 3,118 Thanked 1,090 Times in 784 Posts	Late posting What I do is I rent my condo on Winnisquam year round. I keep the mooring for the boat. Then I Would use the ramp to trailer the boat to Winnipesaukee. That way I don't have to pay for a mooring or launch fees. The condo is appreciating in value while all expenses are paid! __________________ Someday may never be an actual day.