3/24/093/24/09

Living Aboard A Trawler Living Aboard A Trawler

•• AgendaAgenda–– Our StoryOur Story–– Selecting the right boatSelecting the right boat–– The ProThe Pro’’s & Cons & Con’’ss–– Finding the ideal marinaFinding the ideal marina–– Real Time CostsReal Time Costs

ComparisonsComparisons–– SummarySummary

Life is short, live your dream

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Our StoryOur Story

•• An opportunity turns aAn opportunity turns aretirement dream into realityretirement dream into reality–– Timing / Job transfer / LocationTiming / Job transfer / Location–– Convincing the first mate!Convincing the first mate!

•• Win / WinWin / Win

–– Getting it right the second timeGetting it right the second timearoundaround•• N4050 / N4061N4050 / N4061

•• Is this right for you?Is this right for you?

Make your own opportunity

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Selecting The Right BoatSelecting The Right Boat

•• Boat Type / DesignBoat Type / Design–– No secret that full displacementNo secret that full displacement

trawlers provide more volume /trawlers provide more volume /space due to the nature of theirspace due to the nature of theirdesigndesign

–– Nordhavn, Selene, Kadey-KrogenNordhavn, Selene, Kadey-Krogento name a few offer their ownto name a few offer their ownunique stylesunique styles

•• Is there a perfect Live A-boardIs there a perfect Live A-boardboat?boat?

Perfection is subjective

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Selecting The Right BoatSelecting The Right Boat

•• WhatWhat’’s required for true lives required for true liveaboard comfort?aboard comfort?–– A lot like a house or apartmentA lot like a house or apartment

(but the view is better)(but the view is better)•• Square footageSquare footage•• Number of roomsNumber of rooms•• Gourmet GalleyGourmet Galley•• Heat / Air-conditioningHeat / Air-conditioning•• Outdoor areasOutdoor areas

Lots of room for a 40 footer

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Selecting The Right BoatSelecting The Right Boat

•• Living SpaceLiving Space–– No argument that living on aNo argument that living on a

boat will require adjustmentboat will require adjustmentto smaller spacesto smaller spaces

–– Key factorsKey factors•• Identify areas you plan to useIdentify areas you plan to use

most often and make them themost often and make them thelargestlargest

•• Different levels provideDifferent levels provideadditional privacyadditional privacy

•• Trade offs between indoor andTrade offs between indoor andoutdoor spacesoutdoor spaces

Perfect balance for two+

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Selecting The Right BoatSelecting The Right Boat

•• Prioritize Living AreasPrioritize Living Areas–– SalonSalon–– GalleyGalley–– OSROSR–– BathroomBathroom–– PilothousePilothouse–– Aft / Upper DecksAft / Upper Decks–– Engine Room (?)Engine Room (?)

What does your life style require?

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Selecting The Right BoatSelecting The Right Boat

•• SalonSalon–– Greatest percentage of time spentGreatest percentage of time spent

•• Equal level galley adds to living areaEqual level galley adds to living area•• Entertainment centerEntertainment center

–– Satellite connected LCD TVSatellite connected LCD TV’’s withs withSurround SoundSurround Sound

•• Comfortable seatingComfortable seating–– Built-in versus adjustableBuilt-in versus adjustable

•• Hi-Low tableHi-Low table•• Ottomans with storageOttomans with storage•• Large Large ““tintedtinted”” windows windows•• Carpet over woodCarpet over wood

–– Floors get coldFloors get cold

Comfort has been achieved!

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Selecting The Right BoatSelecting The Right Boat

•• GalleyGalley–– For some reason meals just tasteFor some reason meals just taste

better on the waterbetter on the water•• Reliable brand appliancesReliable brand appliances•• Double SS sinkDouble SS sink•• Gas or electric stove / ovenGas or electric stove / oven•• Refrigerator & Freezer large enoughRefrigerator & Freezer large enough

for a weeks provisionsfor a weeks provisions•• Lots of storage spaceLots of storage space

–– LuxuriesLuxuries•• Trash compactorTrash compactor•• Wine coolerWine cooler•• Granite counter topsGranite counter tops

Gourmet dinners sound good

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Selecting The Right BoatSelecting The Right Boat

•• Owners StateroomOwners Stateroom–– Comfort is keyComfort is key

•• Walk around queen size bedWalk around queen size bedw/ excellent mattressw/ excellent mattress

•• Hanging locker spaceHanging locker space–– Never too muchNever too much

•• Below bed storage spaceBelow bed storage space•• TV / StereoTV / Stereo•• LightingLighting

–– Window size / locationWindow size / location–– Reading lights versus dimmerReading lights versus dimmer

control overheadcontrol overhead

Three layers of foam work great

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Selecting The Right BoatSelecting The Right Boat

•• BathroomBathroom–– DonDon’’t overlook itt overlook it

•• How large / how manyHow large / how many•• Shower or bathShower or bath•• Hot water heater sizeHot water heater size•• Fresh or saltwater headsFresh or saltwater heads

–– Manual or electricManual or electric

•• WindowsWindows–– Quantity, location and sizeQuantity, location and size

•• Electrical power for hair dryerElectrical power for hair dryer•• Heated roomHeated room

Hot Showers are a must

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Selecting The Right BoatSelecting The Right Boat

•• PilothousePilothouse–– Room with a viewRoom with a view

•• Command central at seaCommand central at sea•• Never to largeNever to large•• Excellent for dockside dinnersExcellent for dockside dinners

overlooking the city or justoverlooking the city or justwatching the world pass bywatching the world pass by

•• Day berth provides additionalDay berth provides additionalsleeping accommodations forsleeping accommodations foroccasional guests or afternoonoccasional guests or afternoonnapnap

Relax & watch the world go by

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Selecting The Right BoatSelecting The Right Boat

•• Upper / Aft DecksUpper / Aft Decks–– When summer arrives!When summer arrives!

•• Entertaining or dinning Entertaining or dinning ““AlfrescoAlfresco””–– Large area required for fold awayLarge area required for fold away

tables & Chairstables & Chairs•• Bar-B-QBar-B-Q

–– Rail mounted / small propaneRail mounted / small propane•• FishingFishing

–– Rod holders / bait tank?Rod holders / bait tank?•• Showering off after a swimShowering off after a swim

–– Built in hot/cold showerBuilt in hot/cold shower•• Protection from the sunProtection from the sun

–– Biminis topsBiminis tops–– Tall solid railings a mustTall solid railings a must–– Davit and room for the dingyDavit and room for the dingy

Where are the margaritas?

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Selecting The Right BoatSelecting The Right Boat

•• Engine RoomEngine Room–– Its not all sunsets &Its not all sunsets &

margaritas!margaritas!••Easy Access makesEasy Access makes

for frequent checksfor frequent checks••Headroom andHeadroom and

elbowroom matterselbowroom matters••White floors andWhite floors and

plenty of lightingplenty of lighting••Keep it clean!Keep it clean!

You will spend time in here

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Selecting The Right BoatSelecting The Right Boat

•• SummarySummary–– Your individual styleYour individual style

will dictate what iswill dictate what isimportant to youimportant to you

–– Select the boat that Select the boat thatbest fits your style (itbest fits your style (itmay not be a trawler)may not be a trawler)

Change your view anytime

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The ProThe Pro’’s and Cons and Con’’ss•• ProPro’’ss

–– LifestyleLifestyle•• Waking up on a boatWaking up on a boat•• Morning coffee on deckMorning coffee on deck•• Afternoon walks along the bayAfternoon walks along the bay•• Evening glass of wine on deckEvening glass of wine on deck•• Gourmet dinners up in theGourmet dinners up in the

PilothousePilothouse•• Million dollar views of the cityMillion dollar views of the city

skylineskyline•• Increased physical activityIncreased physical activity•• Neighbors with similar interestsNeighbors with similar interests•• Marina amenities & sponsoredMarina amenities & sponsored

gatheringsgatherings

–– Ability to untie the dock lines at aAbility to untie the dock lines at amoments notice for a cruisemoments notice for a cruise

–– Ability to pick up and move to aAbility to pick up and move to adifferent marina or citydifferent marina or city

•• ConCon’’ss–– Smaller living areasSmaller living areas–– Winter weatherWinter weather–– Never ending maintenance /Never ending maintenance /

cleaningcleaning–– Depreciating asset / Cost ofDepreciating asset / Cost of

OwnershipOwnership

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Selecting The Right MarinaSelecting The Right Marina

•• Location, Location, LocationLocation, Location, Location–– Where you select to live can makeWhere you select to live can make

or break the experienceor break the experience–– Walking distance or short drive toWalking distance or short drive to

stores, restaurants and activitiesstores, restaurants and activities–– Marina cleanliness, amenities,Marina cleanliness, amenities,

securitysecurity–– Single or double slipsSingle or double slips–– Shore power hook-upsShore power hook-ups–– Deep channel entranceDeep channel entrance–– Close proximity to oceanClose proximity to ocean

You can always pick-up & move

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Real Time Monthly CostReal Time Monthly CostComparisonComparison

•• $600K Boat$600K Boat–– Slip FeesSlip Fees $ 800*$ 800*–– Hull CleaningHull Cleaning $ 90$ 90–– 2X/mo wash2X/mo wash $ 120$ 120–– InsuranceInsurance $ 200$ 200–– MiscMisc $ 200$ 200–– Property tax Property tax $ 500$ 500–– TotalTotal $1,910$1,910

*Note Electrical included in slip fee*Note Electrical included in slip fee

•• $600 House$600 House–– UtilitiesUtilities $ 800$ 800–– Yard ServiceYard Service $ 220$ 220–– Pool ServicePool Service $ 120$ 120–– InsuranceInsurance $ 180$ 180–– MiscMisc $ 500$ 500–– TV / ComputerTV / Computer $ 150$ 150–– Property TaxProperty Tax $ 550$ 550–– TotalTotal $2,520$2,520

(Boat and home mortgage, food and transportation not included

Assumes newer boat with minimum repair work)

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Monthly Cost VariablesMonthly Cost Variables

•• $600K Boat$600K Boat–– Slip FeesSlip Fees $ 800*$ 800*–– Hull CleaningHull Cleaning $ 90$ 90–– 2X/mo wash2X/mo wash $ 120$ 120–– InsuranceInsurance $ 200$ 200–– MiscMisc $ 200$ 200–– Property tax Property tax $ 500$ 500–– TotalTotal $1,910$1,910

*Note Electrical included in slip fee*Note Electrical included in slip fee

(Increasing or decreasing the size / cost of the boat will effect mostthe above items and overall cost of ownership)

Single largest controllablevariable (20%) influenced bylocation

How much can you doyourself?

Not much room here

Talk to your tax accountant

You will spend this!

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Poor economic times Poor economic times –– Opportunity Opportunityor Obstacleor Obstacle•• Why today makesWhy today makes

sense to move aboardsense to move aboard–– Lower cost of livingLower cost of living–– Healthy life styleHealthy life style–– Some trawlers holdingSome trawlers holding

their value better thentheir value better thensome realstate orsome realstate orfinancial marketsfinancial markets

–– Some excellent deals toSome excellent deals tobe foundbe found

Untie those dock lines

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SummarySummary•• The DecisionThe Decision

–– No one can or should make theNo one can or should make thedecision for youdecision for you•• Have the first mate on boardHave the first mate on board

–– It should be more a passion notIt should be more a passion notan experimentan experiment

–– Start out slowStart out slow•• Smaller boat for weekends &Smaller boat for weekends &

weekly staysweekly stays•• Borrow a friends trawler for aBorrow a friends trawler for a

weekendweekend•• Consider renting out yourConsider renting out your

house for the first yearhouse for the first yearbefore sellingbefore selling

–– DonDon’’t wait as there will never bet wait as there will never bethe perfect timethe perfect time

Your life, your boat!

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Parting ThoughtsParting Thoughts•• Mark Twain :Mark Twain :

•• Twenty years from nowTwenty years from nowyou will more likely beyou will more likely bedisappointed for things youdisappointed for things youdidndidn’’t do then those yout do then those youdiddid

•• John Torelli:John Torelli:•• Life is an ever changingLife is an ever changing

balancing act that doesnbalancing act that doesn’’t givet givea second back. Dona second back. Don’’t wastet wasteanother, take the first step toanother, take the first step tolive your dreamslive your dreams

Live with the dolphins