Would you consider living in a floating apartment?

[Bladed]

I need to downsize at some point, probably within the next couple of years, and I’m looking into this as an option. I’m in my late 50’s, widowed and have 4 adult dc (although youngest is only 18).

There are lots of things to consider, and I need to do a lot of research still. I have a whole load of questions but I’m wondering if people could suggest things to me I may have overlooked/forgotten to take into account?

Thank you :)

Thanks for the responses and opinions.

Mooring charges are something I’d need to consider - they differ depending on where you site your apartment - apparently in Brighton they can be between £5,000 to £12,000 a year. That’s a lot but I wouldn’t want to be in Brighton.

From what I understand (like I said, I need to do more research) they don’t sit on bases as such but on catamaran hulls, and all materials are designed to be waterproof and long lasting.

@Alphabet1spaghetti2 that’s a good point about what happens if you fall out with the Marina management. I hadn’t considered that aspect at all so thank you. Can I ask why you no longer live on a narrow boat?

@MyDogStoodOnABee there is supposedly very little movement but I haven’t even been to look at one yet so I can’t say if that’s an accurate state or not. Menopause is over and done with thank god and I’ve never been seasick or travel sick - but I’ve never spent any length of time on the water either!

I don’t know. I feel not at all ready yet for over 60’s type accommodation but maybe I’m not thinking rationally. Which is why it’s great to get opinions on here - thank you.

No. I think it's a great option for couples or young families, but happens when you're no longer mobile enough to get around safely and you can't afford anywhere on dry land?

How will you get things like shopping carried and delivered if you get injured or sick?

You would be buying an asset that was constantly depreciating. You risk having nothing to leave to your children.

Think of yourself at 90. Do you really think you could be living in a place like that?

I think it's incredibly important at your age not to box yourself into a corner with a decision like this. Once you buy one of those prices you will never ever be able to buy somewhere on land again.

A boat comes in at considerably less than half the price in running costs in comparison to a house including marina fees, and a good boat around 30 to 60k depending upon size and age.

Why would you not just live in a caravan / lodge

This was for sale a few years ago on Hartlepool Marina. It was the sales office when the Marina was built, but it literally backs onto a car park! I was tempted to buy it for a holiday let but every local sailor said don't do it, so I didn't.

www.onthemarket.com/details/7696839/#/photos/12

A boat comes in at considerably less than half the price in running costs in comparison to a house including marina fees, and a good boat around 30 to 60k depending upon size and age.

What about repair costs? Rust? Depreciation?

Ships and boats and such don't go up in value whereas houses do.

Do companies deliver to boats?

@EmmaH2022 yes, companies will deliver to boats with residential moorings. Other mooring option you have to be more creative…but it can be done.

@mountainsunsets yes! Your points are spot on. - getting older on a boat is not at all easy, especially with the attitudes new boaters are bringing to the waterways. Often emergency services will refuse to attend - it is up to the discretion of the attending services and their own risk assessment.
As for Maintenance again you are right! everything on a boat costs more than in a house. A live aboard boat on a residential mooring, costs a lot more to run and maintain than a house. (Assumed both boat and house are paid for). It can be cheaper to continuously cruise or illegally live on a leisure mooring, but neither of those options will be open to op with a floating apartment in the uk.

@Bladed We no longer live in narrowboat for several (and long) reasons!

1. costs. It’s now nearly £10k pa just to resideLEGALLY on a 60ft boat on a mooring. That’s before you’ve even moved it, or eaten etc. Continuous cruising is getting harder due to the next point (2) and is gradually being phased out of the system.
2. canal and river trust do not understand canals or the maintenance required. The system is massively failing and funding is due to be cut drastically. Costs to boaters will have to rocket if even minor maintenance is to be done. (Small leaks currently take decades to be fixed.)
3. As boats age, they become like little old ladies (I am one!) and require ever increasing amounts of maintenance which is costly.
4. very few people can do the required maintenance to a high standard- which is why they rightly so, charge a lot.
5. maintenance is difficult, and I don’t flex as well as I used to, so even servicing the engine gets more difficult every year.
6. accessing services such as police and nhs can be extra difficult being classed as a boater/water gypsy. (We didn’t gain protected status as a human right). Even getting benefits is becoming a lot more difficult than it was. If you are not on a residential mooring, it is very difficult, unless you are willing to fall on the mercy of individuals and also to bend (not break!) the rules to their limits.
7. Neither of us like Marinas and the internal politics that go with them- so they aren’t an option for our twilight years. You have no right being in a marina, and are at the total mercy of the marina operator - there aren’t any rules they must follow either. Marinas are at best, rules by industry best practice, but not by legally set rules iyswim. So standards vary and you have no recourse if things go wrong. Some marina staff are worth their weight in gold - and those marinas have very long waiting lists!!
8. I won’t miss frozen pipes in winter or sliding around in ice, trying to lug coal, wood, diesel, fresh water and toilets back to the boat. (Not that those apply to a floating apartment). I won’t miss having to be upside down in an engine compartment attempting to fix diesel heating at midnight, or sorting out vandalised lock gates at 2am! For all that, I will miss the waterways, it’s magical mystic and the camaraderie to be found. I will miss the wildlife and being immersed in nature the most.

Thank you @Alphabet1spaghetti2 for such a comprehensive reply.

I’ll go and have a look at one but I think, after reading some of these replies, it will be a no go. Thanks everyone for giving opinions :).

Off topic, but I can’t believe that kid is stand up paddle boarding without a life jacket in the ad 😖

I find it so bizarre that is sold as an option for families. Surely the risk of water mishaps is enormous for small children.