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When is the best time to buy?
Tuesday,9 October, 2012
5:33 pm
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I have just completed my week’s hire on a 60ft boat to “try before I buy”.  I am absolutely convinced it is the life for me (for 6 months of the yer anyway) and would like to be in a position to start cruising in March/April next year.  I will have to take out a bridging loan until the house is sold – say 6 months to one year so my question is – are prices likely to be much lower now than in, say, February/March next year.  Also, how long is it likely to be between offer and completion, assuming a full survey and some remedial work is necessary – not a simple question, I know, but some idea would be useful.

Retired; Somerset/Dorset border when not out and about on Lucy Lowther

Days without name and hours without number

http://thelovelylisanarrowboat.blogspot.co.uk
 
Tuesday,9 October, 2012
7:40 pm
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Hi Alan,

I don’t think it’s a case of the prices being lower over the winter, but the sellers may be more motivated to do a deal with you. People tend to buy with their hearts rather than their heads, so trudging around a cold and dirty boatyard looking at boats for sale in the depths of winter isn’t most people’s cup of tea. We don’t sell a huge number of boats at Calcutt, but I know we have far more potential buyers in the warmer months than we do between now and the spring.

The length of time between offer and completion is entirely up to the buyer and the seller and maybe the broker. We had a couple over here from Australia in the spring. They hired a boat from us for two weeks with the intention of buying their own liveaboard boat before they have their hire boat back. They achieved it easily. They may have been lucky, but the fact that they had money in the bank for the boat meant that there was no delay while finance was arranged.

The length of time that the surveyor takes and then the subsequent remedial work is a moveable feast too. It depends how busy (and organised) both the surveyor and the boatyard who does the work are. Of course, if there is remedial work to be done, rather than ask for the seller to do the work before you buy the boat, you could always ask the seller to reduce the price by the cost of the remedial work and then have it done once you take ownership. That would speed up the process for you.

Rather than worry about the time that the transaction will take, you need to think about how long your search will take before you find the right boat. Have you started looking yet? Do you know what length, style and layout you want? Have a look at the boats on Apolloduck. I’ve just had a look. There are about 900 narrowboats and 100 widebeams currently for sale. There’s plenty there for you to get your teeth into!

Click here to get a FREE copy of “Living On A Narrowboat:101 Essential Narrowboat Articles”

Tuesday,9 October, 2012
8:59 pm
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Thanks Paul,

I have already decided on what I want – about 60 ft, cruiser stern and probably reverse layout.  Have downloaded a few possibles from Apollodock and also Whilton Marina – both mentioned in your book https://livingonanarrowboat.co.uk/the-real-cost-of-living-on-a-narrowboat/

This looked pretty ideal for what I am looking for but has already sold http://www.whiltonmarina.co.uk…../2175.aspx

I just need to decide whether it is worth gong to view now (and paying the extra interest to next March if I see something I like) or waiting a few months. As you confirm, I would have thought there were more deals to be made now so I guess I will go for a look – not good at waiting fo somethig I want!

Retired; Somerset/Dorset border when not out and about on Lucy Lowther

Days without name and hours without number

http://thelovelylisanarrowboat.blogspot.co.uk
 
Wednesday,10 October, 2012
6:17 am
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The boat at Whilton marina has quite a good specification, but it wouldn’t suit me. One of the joys of living on a narrowboat as far as I am concerned is sitting on the front deck watching the world go by. My boat has a table that is stored inside but which fits quickly and easily into a slot in the well deck for al fresco dining. We use it a great deal. Your boat doesn’t have a front deck at all. I think you would miss out. Ansuka also has a rear wheelhouse. Once more, you would be divorced from the sights and sounds of the waterway as you travelled… apart from the sound of your wheelhouse crunching into a low bridge.

I noticed that the toilet is a cassette. Don’t forget that you would have to empty this every two or three days and that the waste tank is quite heavy to carry in and out of the boat. I have a cassette toilet, but I also have access to the marina shower block for doing anything other than a wee. The flush on a cassette toilet isn’t very strong so it struggles to flush wads of toilet paper.

Good luck with your search. Let me know how you get on.

Click here to get a FREE copy of “Living On A Narrowboat:101 Essential Narrowboat Articles”

Friday,12 October, 2012
7:34 pm
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Hi Alan

I was in the same dilemma just under a year ago. For me a lot of the question was ‘what is the latest date that I want to be cruising’. I worked backwards from that chosen date (April) and allowed time to make any changes and repairs (sanding floors and putting a washing machine in took a while); survey and final negotiations took a fortnight; initial negotiations on the decided boat took a good week or so; looking at as many boats as my work schedule allowed; speaking to as many boaters as possible for their thoughts on what is wanted against what is needed oh and finally reading every page of this website and getting my living aboard budget right. There was no forum here then so I posted my budget on another forum for critique.

Working back from April we started looking at/shortlisting boats in mid December. My reasoning was that most on my shortlist wouldn’t sell till mid/end Jan. If I waited till spring my shortlist would sell quicker (if the boats were any good) and I wouldn’t be cruising until mid summer.

Good luck and gibe us a wave as you go by 🙂

James and Debbie

NB Lois Jane
http://nb-lois-jane.blogspot.co.uk/

Saturday,13 October, 2012
9:41 am
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 Hello James (I presume it is James and not Debbie)

I have had a look at your blog and like your philosophy: “Our aim is to have no aims and our goals are to have no goals; just enjoy the journey to an undecided destination.”
Here is another one for you ‘Days without name and hours without number’.
Thanks for your reply. Timing is tricky for me – I would like to be cruising by next April but will need to sell the house to finance the boat purchase. The local estate agent says it is very quiet at the moment so nothing much likely to happen until next spring. I have been looking at ways to finance the purchase until the house is sold but all seem very expensive. Does anyone have any experience or suggestions of raising short term (six months to a year) finance for a boat? I have no mortgage but it seems it would be easier to raise a loan if I did – do not understand the reasoning there!
My thoughts are the same as yours – that it is better to buy over the winter when there is more choice and more likely room for negotiation.
I have prepared a rough budget using Paul’s book (thanks for the comments, Paul) – are your (James) budget figures available and how do they compare with the actual?

Alan

Retired; Somerset/Dorset border when not out and about on Lucy Lowther

Days without name and hours without number

http://thelovelylisanarrowboat.blogspot.co.uk
 
Sunday,14 October, 2012
10:25 pm
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Hi Alan

Days without name and hours without number. I like it, and am getting closer to it day by day. I think I mislaid my watch somewhere in, maybe August. I don’t need to know what time it is anymore 🙂

I’ll get some figures off to you. We’ve just finished our first 6 months so I will have before and after figures.

If your agent says ‘nothing much will happen before spring’ find a new agent. I have sold property on Christmas eve. If there is any other way I would suggest keeping your house. If you have an income (even just pension) you can get a mortgage. Take some (free) mortgage advice to see if its doable. I have also sold lots of property that has been tenanted through my company at the same time.

So you could potentially get a mortgage to buy the boat, find a tenant who is flexible with terms (they will pay you less than the going rent and may need to be incentivised with help towards moving costs for their subsequent home) and have your property on the sales books with the same company.

Cheers

James

James and Debbie

NB Lois Jane
http://nb-lois-jane.blogspot.co.uk/

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