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Interested in trading beautiful home for a boat

Discussion in 'General Yachting Discussion' started by craigsduc, Apr 11, 2013.

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  1. craigsduc

    craigsduc New Member

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    We are looking to downsize and get back on the water and are wondering if anyone out there would trade their boat for the equity in our home here in Thousand Oaks California. I,m sure it is a long shot but we felt it worth putting out there. We have between $ 250K and $ 300K in true equity and the home is simply beyond description. We owe about $650K between the mortgage balance and a few debts we would need to clear. We are looking for a sportfisher or pilothouse perhaps. Hatteras, Bertram, Viking, Cabo , OA, Flemming, etc. 40 ft plus. We have also considered 54 Bertrams and 55/60 Hatteras as old as 1978 and would still consider it still for the right bristol older SF. my cell is REMOVED. Let me know. Craig
  2. Beau

    Beau Senior Member

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    Craigsduc

    Before you go further, consult your tax advisor. This may not qualify as a tax free exchange under IRS rule 1031. Be aware of possible tax consequences, if it doesn't. Good luck
  3. craigsduc

    craigsduc New Member

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    Will look into it. I know there are many out there that would say selling a beautiful home to down size and buy a boat along with a small condo instead is not a smart idea but the reality is I am not enjoying life much these days dreaming about getting my 8 year old on the water where I belong and she yearns for. Life is short and at 57, I simply need to make a change and feel I could certainly live on an older 60 Hat for a little while until we figure out if we want to buy a condo, small home, rent, or move and do it down under in Australia possibly taking the Hat or Bertram with us. Costly I know but it appears there is a market for these high quality boats down there and relocating to Australia has always been a thought of mine. With where we seem to be heading here in the US, it may be time!
  4. Ormond Bert54

    Ormond Bert54 Senior Member

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    Just sell the house and start looking for the right boat. If you intend to live on it, people seem pretty happy with their 58 Hatteras Motoryachts and they are good value too. Nice to be mobile as our country goes from bad to worse.
  5. NYCAP123

    NYCAP123 Senior Member

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    I agree with Bayside Bert about selling the house first rather than looking to trade. although maybe not the reasoning. People today really like cash deals with as few complications as possible. I recently finished shopping for an older Hat and can tell you there's some pretty nice 53, 56 and 58's out there right now and the sellers are talking deal. I looked at a lot of boats.
    An 8 y.o. can be a big complication though between school districts, skateboards and basketball hoops.
    Good luck.
  6. JWY

    JWY Senior Member

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    I think this is a fairly futile hope. I was keeping a list of "property to trade for boat" just in case the right match came up. The properties ranged from a buffalo ranch in Quebec to ocean front villa in Mexico and a house in about every state in-between. The house or boat is never the right one. Spend your time marketing your house would be my suggestion. If need be, take your losses and run and call it a move to a better neighborhood.

    Judy
  7. K1W1

    K1W1 Senior Member

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    Hi,

    I would take a careful look at this dream before leaping into it.

    Australia is not a cheap alternative and at 57 or older with your major asset tied up in an older fiberglass sportfisher, what do you have to offer that will make you attractive to them as an immigrant?
  8. craigsduc

    craigsduc New Member

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    My 42 year old wife is a special education teacher so my immigrating down under will most likely be " under her wing ". We might give living here in the US another last ditch try before we venture long distance but where we as a country are going is pathetic and I simply dont have any faith it will get any better ever! I,m afraid we are done.....the land of a few very rich self centered individuals and corporations, a mass of immigrants here to take a free ride.....and a mass of hard working people the government ( who are amongst the first " few " ) has targeted to pay for everything.

    Its why I am considering scaling down and at least enjoying some badly needed and EARNED on the water time with my family. At 57, I can still build high quality homes.......with details that seem to be a fast becoming thing of the past. Perhaps, I can find some new clients down under that would embrace a Yank with good ethics and abilities that is there to work....not take....
  9. craigsduc

    craigsduc New Member

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    We actually sold our home....and bought a boat!

    Its funny but since the last post I made on this thread, we sold the house after putting it on the market for a day, went to Australia, bought a used Prado Landcruiser and put 13,000 kilometers on it looking for a place to build our next nest between Sydney and Cairns........ 13,000 kilometers later..and just shy of the maximum 90 day stay, we couldn't wait to board the Quantas 747 and come back to Southern California......but only for 3 days while we saw some friends/family....and set out in our F450 that didn't sell while we were away........enroute to Saint Augustine and the St Johns county of Florida.

    After numerous trips to Florida and N.C........I knew I liked the people and lifestyle enough to put Southern California in my rear view mirror for good! Since here, we found a rental home with a pool, a proper school for the little one, and have entered into a purchase of a 2005 Pursuit 3370 I found for a very fair price. With a decent nest egg still in the bank, we are going to get out 9 year old American version of " Bindi " on the water to fish, explore and do what we all do on/around the water. I fought buying the boat at first choosing instead to see what we could buy home wise here. Not knowing where we will actually end up over the next few years, we elected to rent and get on the water....and enjoy what we have been missing since Summer was born! It kills me it took so long to finally do it but because of greed and corruption within the financial arena, the world was thrown into a GFC and the rest of the world was put on hold......many loosing everything .....including their life in some cases. Its is beyond sad how greed overcomes ones life....where more and more is better.......and its never enough!

    Enough negative, I am simply grateful we managed to keep our home through that extremely challenging time and lived to see it through......and managed to move away from what we considered to be a very shallow society in/around Los Angeles and Orange County...
  10. NYCAP123

    NYCAP123 Senior Member

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    A year after we got married my wife & I moved about 60 miles east of where we were living in NY...via Tucson, Az. ...in 2 weeks. We were on our way back to NY the day our furniture arrived in Tucson. Long story, but just to say follow your dream. I figure everytime I followed my dream, whether it worked or not, led me to the life I'm living today. Wouldn't change a thing.
  11. craigsduc

    craigsduc New Member

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    Well said as I wouldn't change a thing either. Things could be far worse. We did something most thought was crazy by going to Australia. We almost sent our 40 ft container with everything we owned ...on the water before we left on Quantas. The issue was the Australian government told us we weren't allowed to send our belongings on a visitors visa ( 1 year visa ) and needed to wait until we had working visas to send our belongings. Thank god we decided to abide by their request as we almost did it anyway feeling it took 8 weeks to get there by ship...and we would certainly have job offers by the time it arrived in port.

    Thank god we made the right decision to abide....Lesson learned!
  12. NYCAP123

    NYCAP123 Senior Member

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    Actually, if it were up to my wife it might have been Australia. :D:D:D Well, welcome to the east coast.
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