Fl Keys Dreaming

A

alfnator

Member
Joined
Nov 28, 2006
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24368
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In 3-5 years we are looking to buy a 40-50 foot Gibson/holiday houseboat or trawler and a little place in the keys for weekend getaways. We prefer the northern keys but are not against the lower keys either.

Hence we wanted to hear some pro and cons , real expectations, and things to avoid from the experienced boaters here about the keys, big boats, and living on the water.

1. About us / Environment:
We sold our boat (25 cabin cruiser) and are boat less for the time being.

We have a 9 year old so we are looking for a family friendly environments,for the most part. Except for the no kids weekends ;-)

We are not looking to live aboard on the boat for the present time. Hoover, we prefer live aboard communities so we can rent out the place , live on the boat a couple weeks at a time,investment, or for living aboard on the future.

2. Property types:
we are toying with one of the following types of properties.

a. deeded Boat slip that allows live aboard.
I have seen a couple 40'-50' slips in the 75K range that are deeded and allow live aboard. Also some even allowed boat lifts which was appealing.

I prefer this route over the manufactured home route because it appears to be the cheapest (upfront anyways) to buy but not the wife .

I'm thinking with 75K for a slip plus 75K for a used 40' boat, we can get a decent fun keys weekend getaway destination. That puts us at around 150K upfront charges. Not sure about other costs on slip costs such as : boat maintenance (bottom paint, hull out, etc) , HOA, insurance, etc. I read somewhere that I can expect to take out the boat every 2 years to have the hull bottom painted and repaired?

So whats a fair way to calculate monthly expenses for a fiberglass boat in the 40-50 foot size wet slip?

Also another concern for us is that we will be living in the other coast about 2.5 hours away and worried about issues coming up and not being able to take care of them immediately?

b. manufactured home on the water.
The Wife prefers this over the wet slip route, but mainly because we have no experience with wet slips. The downfall we see is that Manufactured homes on the water appear to jump up rather quickly to 250k+ , so I'm not 100% sold on the justification in spending an extra 100 to 150K extra to get a little piece of land.

c. RV + Boat
This is by far our both preferred option. Buy an empty rv lot on the water with a boat slip that allows live-aboard and long term parking for rv or travel trailers. The problem is that this does not appear to exist in the keys, well within our price range anyways?

d. moorings
Can you make your own moorings ,or buy moorings ,or are they rental only in the keys? I recall reading that in some places its legal to create your own moorings but it sounded to good to be true and likely unmanageable to be true?

So for someone such as ourselves that are dreaming the keys lifestyle but have never owned a large boat nor kept it on a wet slip what would be your advice or feedback.
We are looking to keep the costs as cheap as possible as this will be a weekend kind of getaway destination for us,so we are open to unique alternatives as well.

However, we prefer to buy versus rent because we would like to hand down the property to our son for future generations to enjoy.

3. Boat types:
The wife is keen on the Gibson or Holiday Mansion houseboats because , well its a house boat. This appeals to me but my concern is that it limits our travel to key destination sites such as the Bahamas, dry Tortugas, and swfl via the ocean side.

Hence I lean more towards the trawler types. I also lean towards the 2 engine trawlers for redundancy. However is it reasonably feasible , reliable and worth getting redundancy with a single engine by using an outboard?

Another question is can you even get insurance for Gibson or Holiday Mansion houseboat in the keys? Would they be fine to cruise all over the keys and possibly to the dive sites like statue of Christ or molasses reef? What would be the limitations to a gibson or Holiday Mansion houseboat?

Are there comparable ocean worthy used type houseboats below 100K?

also we would also be interested if possible to rent out the property or boat for rental income on a part time bases. It appears that many of the houseboats for rent in the keys are stationary at the marinas.

However is it possible from an insurance perspective to rent out the boat and hire a boat captain to take guest for a ride or possibility to an anchoring spot for the night? How would that work and would the boat captain have to stay on the boat the whole time?

Also I'm not against the cruiser types but they don't appear to be as comfortable or functional for extended stays?

The Dream
To get a keys destination for weekend getaways that we could rent part time to offset some of the costs.

Ideally from the location and boat choice we would like to be able to travel from the keys to the Bahamas and SWFL. We like the comforts of a gibson or holiday houseboat but fear the restriction of such boats specifically ocean side travel.

Thanks in advance for any feedback including any that could likely squash our dreams
;-)
 
Realistically you re not going to get a house boat to the Bahamas or dry tortugas. Too rough / not sea worthy. A bluewater is as close to a houseboat as your could take to the Bahamas, with a good weather window.

I having and investment property and leaving that to your son is a factor then try to find a small house on a canal with a dock. in the long run property values in the keys have nowhere to go but up. RV lots and trailer parks not as much and then no privacy and sometimes questionable neighbors.

Personally I wouldn't buy a slip. You re tied to a spot, if a part time live abort is your goal then rent a slip.

Draft is critical in the keys, whatever you choose keep it under 4 to 4' 1/2.
Don't overlook aft cabins and other boats in the 40/45 range which can run almost as economically as a trawler

Yes you ll need to haul out every couple of years for bottom paint (figure $50 a ft incl haul out paint etc) plus a monthly diver to clean the bottom at $2 a ft
 
Thank you PascalG for the feedback, I was hoping you would chime in.

I just did a quick look at the Blue water and found a couple that looks promising with the functionality we are looking for.

Not sure I can post a direct link here but I like one listed on YW

www.------.com/boats/1986/Bluewater-42-CR-Coastal-Cruiser-3023803/Chattanooga/TN/United-States

5146792_20150707173510622_1_XLARGE.jpg


Although I must say it looks very intimidating to jump from a 25' to that !!!!

What would be a decent estimate on monthly upkeep on something like that or around 40-50'?

My fear with renting a slip is that once we get a boat that size we are kind of at the mercy of the ever increasing rates and might be left to scramble to find a new home.
 
Figure 10% of the boat coast for annual expenses. Florida and Bahamas insurance is killer. Expect to pay quite a bit if you have no history in Florida. BoatUS just went Geico and they were going to whack us 4700/year for a 1985 M/Y that included the Bahamas. We halved the boat value and removed the Bahamas to keep that rate within "reason" which is still quite high given we have not had a claim.
Getting into a slip in Florida is becoming very competitive. The Abacos (Bahamas) are all raising their rates to the point it is no longer effective to go there unless you have deep pockets. We have seen the rates more than double for Winter dockage in the Abacos over the last 3 years. Not going back.
 
quote:
Originally posted by boatbum

Figure 10% of the boat coast for annual expenses. Florida and Bahamas insurance is killer. Expect to pay quite a bit if you have no history in Florida. BoatUS just went Geico and they were going to whack us 4700/year for a 1985 M/Y that included the Bahamas. We halved the boat value and removed the Bahamas to keep that rate within "reason" which is still quite high given we have not had a claim.
Getting into a slip in Florida is becoming very competitive. The Abacos (Bahamas) are all raising their rates to the point it is no longer effective to go there unless you have deep pockets. We have seen the rates more than double for Winter dockage in the Abacos over the last 3 years. Not going back.

Click to expand...


Thank you for that information. Yikes that is more than i was hoping for in insurance.
 
Callup BoatUS for a quote before you buy. Then realize that the initial quote is from someone that merely punches some keys into a program. You must work with an underwriter to get a competitive rate that will still sting.
 
Many good thoughts and questions.
A boat will be your greatest expense after you eventually sell it at depreciated value. maintainance will be more than you expect.

IMO the best solution is a home on or near the water with a dock or trailerable boat for day trips. In the end land and houses increase in value while boats go the other way. Less ongoing expense and worry while you are away.
 
I agree with Bruce. Unless you are willing to commit to 100% live aboard, it's the most cost affective way to go.
Jim
 
Didn't have to put too much analysis into this.

"The Wife prefers this over the wet slip route"

You have your answer.
 
Another to add to the builder list. Harbourmaster. Have friends who own a Harbourmaster 40. The boat has done FL to Exumas at least a half dozen times. They have a rare diesel powered one. Like the Bluewater, not the prettiest boats around but they sure are practical. Fantastic Loop boat if that is in future plans. Compared to Bluewaters that I have seen the Harbourmaster Coastal is a step up in build quality but it sure is not your typical trawler.

Got the name wrong. Gave it the English spelling. Should be Harbor Master Coastal. A bunch of them on Yachtworld. Even a diesel.
 
I believe we have seen the boat at Sea Spray in the Abacos. I chatted with them once but forget the names.
 
"To get a keys destination for weekend getaways that we could rent part time to offset some of the costs."

"However, we prefer to buy versus rent because we would like to hand down the property to our son for future generations to enjoy"

"We are looking to keep the costs as cheap as possible as this will be a weekend kind of getaway destination for us"

These items from your 'spec' or goal or not really conducive to a boat but much more like a small home for rental and vacation time.

And along the way you have posted the most important and telling piece of information for this decision....
"b. manufactured home on the water.
The Wife prefers this over the wet slip route"

IMHO - the choice is obvious based upon your post.
 
quote:
Originally posted by boatbum

I believe we have seen the boat at Sea Spray in the Abacos. I chatted with them once but forget the names.

Click to expand...


Safe to say that is the one. Not many Harbor Masters in the Bahamas. Andrew & Carol should ring a bell.
 
We didn't chat much. We did however meet up with another gang of Bermudians on a number of times. Good gang. Had a blast with them. Three boats worth. They normally dock at the Hope Town Inn and Marina now.

We spent a few good times at Lubber's Landing with them earning free Tequila shots with the ring game.
 
Thanks everyone for the advice . suggestions, and feedback. Really appreciate it.

Also I can see the members who not only have years of experience in boating but obviously in marriage when highlighting the wife preferred choice, LOL.

We will re analyse our choice when the time gets closer and we are ready to pull the trigger, but the land options does appear to make more sense for what we are looking as being suggested.

Another option we are entertaining now is using the 150K-250K that would take to get that land property in the keys to buy a water front primary residence in Cape Coral , as the prices are not as outrages as they are in Naples (current residence) or the keys. Then get the 40' footer for long weekend getaways to the keys or dry tortugas or elsewhere.

One other thing we are going todo before we finalize our decision is renting a 40' for a week to see how we like the experience.

Thanks again for advice and feedback.
 
quote:
Originally posted by alfnator

Another option we are entertaining now is using the 150K-250K that would take to get that land property in the keys to buy a water front primary residence in Cape Coral , as the prices are not as outrages as they are in Naples (current residence) or the keys. Then get the 40' footer for long weekend getaways to the keys or dry tortugas or elsewhere.
Click to expand...


Al - I live in Cape Coral, and sell homes there. It is possible to still get a single family canal-front, Gulf access home for under 250K. ... But, it is not like it was a few years ago. In that price range, the pickings will be a bit slim, and/or have a long no-wake to open water and/or be an older home that could use some TLC. Also, be aware that in that price range, it will likely be behind one or more bridges, so bridge clearance will be an issue. If you have any questions, feel free just give me a shout.
 
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