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imo boats definitely do not depreciate like howard has said.
Interesting. Are you saying if I bought a new houseboat for £100k (for arguments sake) are you saying I can expect to sell it on for £100k + inflation in 3,4,5, years time, having not invested any money in renovating or improving it?
Like I can with a property in a 'normal' market.
(appreciate this depends on the state of the market, but I guess I'm in all things equal mode)
Howard-
to be honest, you simply wouldn't get away with "not investing any money in renovating or improving it". it's not like a house, which you can let fall into tatty disrepair and some mug will still buy it. everything on, in, and about your boat is functional - even the furniture to some degree as it has to be ergonomic as you live in a six foot wide corridor. the lights in my boat were naff when i got them, so i replaced them with LEDs. cheap, but makes a huge difference and makes the boat more presentable.
there are certain things you have to do anyway - you have to black the hull every 3-4 years, you have to have a boat safety certificate every 2 years (which requires an extensive examination), you need to check the plating every so often (usually through ultrasound) so that it meets legal requirements.
for the sake of argument, if you left the boat in exactly the same state you bought it (with BSS & blacking & things all up to date or as it was) and, for example, replaced any things you'd broken, there's no reason why you wouldn't be able to sell it for the same or same + inflation..... bearing in mind the state of the market. right now, as i said, the demand just keeps growing, so the prices keep upping. there's limited space and limited boats.
you CAN definitely tart up the boat - some people are obsessed with their boat looking ultra trad - but it doesn't matter how it looks, really, except to people who don't care if it works. if the boat works the same and you've taken care of the engine, no reason why it should depreciate. an older boat is more likely to have an extremely good engine. my friend's boat is a fully working 1930s workboat and it's not selling for any less than they bought it for (shameless plug? who's to say): https://www.instagram.com/57forsale/
ioreka
yes hello. i fully advocate The Boat Life IF (and these are serious caveats) you have some degree of common sense. examples of this could be:
relish the opportunity to get into the engine bay if something stops working, work it out, fix it, or know when to ask for help
not minding a creative approach to energy and water conservation. i shower at work or at the gym (which i would do in a house anyway), i have solar panels, being as sensible with water consumption as if you were eg camping but had a tap nearby (well, it depends what kind of boat you have, my water tank is massive so i don't have to be ultra frugal)
etc. please don't just hop on a boat because you're a millennial looking to save money - you won't enjoy it. my husband and i come from a shared background of touring, squatting, renting, and everything in between so its no hassle at all for us, but if you like your mod cons it's not for you. i mean, woe betide anyone who crushes your dreams, but i'm just speaking from experience.
also, there is a huge spectrum of boats available. please do not be fooled. if you think you can buy a cheap one and "do it up", you will literally sink money into it, and if it's that cheap it should definitely be scrapped. do the research, get informed. this will not only be your only asset but also contain all your worldly possessions so do not put your life in a tin can. get a survey, ah... just realised i'm about to launch into the full shabang. basically - moving once a fortnight is brilliant, you just turn the engine on and go for a cruise, suddenly you're in a different part of town (again there are stipulations to this but i can expand on that another time), that's really the joy of boating. if you don't want to move it, don't live on a boat, at least not for the first year at least. permanent moorings are rare as well as usually expensive, there are some exceptions. also, imo boats definitely do not depreciate like howard has said. i'll be selling mine for a profit, but that was never the intention. every single day there's more of a market for them so until that bubble pops you are unlikely to lose money unless you really fuck the boat up.
let me know if you have any specific questions. you can take out loans and there are marine finance places but if you can scrape or borrow the money together that'd be a better option