Forget about living on the water, I’ve had an epiphany!

[Ronnie]

For context, my wife and I have been house hunting for a new (to us) home on the water for a few weeks now and are preparing to list our current home for sale. My dream / goal was to buy a single family home with a private dock without taking on any more mortgage debt than we already have.

We have decided to look for a home near the water but without a private dock instead. Why?

Simply stated, if we purchase off the water but in the same city/town we could pay the house off and live mortgage and rent free years earlier than expected, maybe even retire a few years early as well.

The homes on the water we have been seeing are either in need of significant maintenance / repair or are over priced. We can get a more modern home that does not need any maintenance or repair in the same town for a lot less money.

Although I’d love to live on the water I’d love to be mortgage free much, much more. The trade off is that I would not be able to walk out to the back yard to boat anytime I want. However, I plan to keep the boat in a dry stack at the local marina during boating season (April though September) so that we can still boat without towing, launching and recovering it. That is, we can be on the water in as little as 15 minutes from the time we leave our house and back be back home within 15 minutes of leaving the marina, except on the rare occasions that we want to boat , not jetski, somewhere else. Currently if I want to go boating or jetskiing i have to tow at least 50 miles, plus launch and recover the boat. The average time each way (including launch and recovery) is two hours.

 

[Maccam26]

Same debate in our household to be honest, love the idea of drystack minus not have my boat for maintenance and cleaning .

 

[Acard7]

The idea of being on and off the water within 15 minutes each sounds close to owning a lakefront home, just without the maintenance of owning the dock. Definitely wouldn’t like paying the monthly fee to keep it there but if it makes life easier why not suffer with that to get a nicer home like you’re doing! Prices are definitely crazy, we are hoping the higher interest rates will push prices down, I’ve seen way too many homes priced at double what they purchased only a couple years ago and nothing has been done to it.

 

[84rzv500r]

It depends on what you want and what you can put up with... by sheer luck we (BBB might have had a little to do with it as she was a stock broker and realtor now retired) ended up with a house on the water with 75' of concrete dock... the ease of access allows dry davit storage on a daily basis and i can swing in to a bunk for drydock work.. I tend to use my boat nearly every day and seeing the lines at the ramps and hearing the whining ramping the boat every time I want to use it doesn't suit me... Houses here in the keys have all doubled in price in the last 3 years and the ones with better water access have tripled or more depending on age, size, features, and construction... I also am rare here for people who are resident locals... I only have 2 boats... Most have 3 or more... ????⛴??

 

[Farny]

For the admiral and I we have been looking for quite some time for the right lakefront deal. Like you the logic of having something close but not “on” the water for the price seems the way to go. Instead of the monthly fee- our plan is to add a “toy garage”. I don’t mind trailering a block or two to the lunch.

 

[Jim_in_Delaware]

@Ronnie, this is also the path that we chose. We could have gotten a small house on the water, or our much larger, new, dream home 15 -20 minutes from the water. We went with the new home off the water. Figured we would spend much more of our time at/in the house and a smaller amount of time on the water. After a loooong build, we should be in our new home in the next 4 - 5 weeks and have no regrets.

Jim

 

[deubank1776]

This is the way

 

[Maccam26]

For the admiral and I we have been looking for quite some time for the right lakefront deal. Like you the logic of having something close but not “on” the water for the price seems the way to go. Instead of the monthly fee- our plan is to add a “toy garage”. I don’t mind trailering a block or two to the lunch.

I can see doing that when I'm retired and boat only during the week to avoid weekend launching

 

[Beachbummer]

If you have nearby dry dock available, that is an awesome option. There is cost and maintenance associated with the lift/dock but the other element to consider is the increased value of the house and the address value of the water view.

I'm too poor and too chicken in Houston for either of these to be a problem for me, as I am too far from the water and too poor to afford the water view I would pay for, but it's a decision only you can make.

I do have the boat in a marina with dry dock and it's excellent for fast use and less maintenance than a dock on the house (which I borrowed for a time from my brother in law) but there is the marina monthly cost that does not capitalize. If you pay for the view, you might be able to sell it later. The marina payment is all cost.

I'll tell you this, either beats trailer towing by a mile.

It sounds like your mind is made up, and this may well be the best decision for you. It's like renting or buying, it depends based on your circumstances.

 

[Cobra Jet Steering LLC]

problem solved and you never need to mow the lawn

 

[octavio3311]

I live a 1/4 mile from the lake, maybe less, 1/2 mile from our launch. I’m there, launched and parked in 10 minutes! Sure, I’ve dreamed of living lake front - but that’s a 1million dollar minimum buy in for a stamp size of land.
Im good. It was an easy compromise.

 

[fatboyroy]

I decided the same 2 years ago. I could have gotten a small house with dock for the same price but I decided to buy 4 miles from the boat ramp with 1/2 an acre and a pool. Benefit on this is I dont have to pay parking for my toys and no flood insurance. We also have 5 boat ramp within 20 min drive so its not an issue launching boat on weekends. Also to me, it doesnt matter if you are 2 block from the ramp or 5 miles, it will be the same effort so probably put that in consideration to get more bang for your buck

 

[Brad_Ct]

We decided to do the same when we moved, looked at 12 houses on canals and in the price range that we wanted to spend we would of ended up with a smaller house on a postage stamp lot that would of needed to be renovated. Ended up buying a 2,300 sqft house with a 3 car detached garage on almost a acre lot that needed nothing to move in. We are 1.5 miles to the nearest launch with 2 others with in 10 miles and a marina with dry stack 6 miles from us.

 

[TimW451]

@Ronnie There are practical options synonymous to @Cobra Jet Steering LLC ’s suggestion. You mentioned before about selling the boat, and you enjoy your new waverunners. What about a condo by/on the water with a slip for a larger boat that can also be lived on?

I’ve been looking for a few years for water living and I think I’d rather be in a community with slips and off the water. Lower cost and less concern about flooding or sea level rise.

 

[Ronnie]

Thanks for the feedback everyone. We are going to consider all single family homes that are listed for sale in our price range in Discovery Bay. As long as We are within a few minutes of the ramp/dry stack my boat is stored in i will be fine. On or near the water (with a deeded slip) would be great but if I have to choose between a dock or a bigger, more modern house I will choose the latter.

 

[Bluewater272]

We're coming to a similar realization. In about a year, we'll be in a good position to buy a second property, and up until now we've been hell bent on being ON the water. Well, those homes are few and far between, and getting ever more expensive. Might need a new boat to go along with the plan, but starting to lean towards something in a shore town with a nearby marina. Shore properties with enough land to park a boat (without looking like Cousin Eddie) are as expensive as the waterfront lots.

 

[adrianp89]

Thanks for the feedback everyone. We are going to consider all single family homes that are listed for sale in our price range in Discovery Bay. As long as We are within a few minutes of the ramp/dry stack my boat is stored in i will be fine. On or near the water (with a deeded slip) would be great but if I have to choose between a dock or a bigger, more modern house I will choose the latter.

A quick google search of the area.... at those prices you could easily live on the water in a very nice home, in probably any other state.

 

[Ronnie]

A quick google search of the area.... at those prices you could easily live on the water in a very nice home, in probably any other state.

I know but the problem is that we don’t want to live in any other state or even much further from where we are now. We grew up here, our families and friends are here. Another big factor is that CA, at least the northern half does not have many communities that are on the water. I only know of three lakes that have homes on the water and three small communities that have river side homes.

 

[adrianp89]

I know but the problem is that we don’t want to live in any other state or even much further from where we are now. We grew up here, our families and friends are here. Another big factor is that CA, at least the northern half does not have many communities that are on the water. I only know of three lakes that have homes on the water and three small communities that have river side homes.

I for sure get the friends and family thing. I would still consider it though. If you and your wife work remote, you could increase your income insignificantly by moving to a more tax-friendly state and simultaneous get the house you desire.

I probably shouldn't talk though I would never move from where I live. No matter where I am in the county, I am 15 minutes from a ramp/beach.

 

[Ronnie]

I for sure get the friends and family thing. I would still consider it though. If you and your wife work remote, you could increase your income insignificantly by moving to a more tax-friendly state and simultaneous get the house you desire.

I probably shouldn't talk though I would never move from where I live. No matter where I am in the county, I am 15 minutes from a ramp/beach.

You make some good points but I know my wife won’t even consider moving to a state that we don’t know anybody in. We are also both unaware of many communities that are as diverse or accepting of diverse cultures as the sf Bay Area or CA generally.

on the work front we are both currently allowed to work from home. That is I have been going into the office but don’t have to whereas my wife has not yet been assigned an office to go to. However, I just got notice to clear my office so that it may be reconfigured before we return to the office under a tbd hybrid plan and my wife was told that her company’s TX employees where HQ is have already returned to the office or soon will. We interpret this to mean that she will be assigned a local office soon and be expected to go in 2 to 3 days a week. Thankfully she is still willing to move to disco bay but it’s a commute from disco bay to her office, at least twice as long distance wise possibly longer time wise.