Holiday house?

Discussion in 'Investment Strategy' started by PMC Property, 1st Feb, 2019.

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  1. Brady

    Brady Well-Known Member

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    Have been going up to partners families holiday home, it's great property, they also have a boat and jetski up there.
    Both the boat and jetski have been to the mechanics a few times in the last couple months..... definitely BOAT @TAJ
    Partners Dad loves it up there, wants the property to be kept in the family for generations.
     
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  2. Blacky

    Blacky Well-Known Member

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    A boat is about $1,000/m/year to upkeep. Maybe a bit more if it’s in a penn/and bigger.
    Over the life I would say that’s pretty accurate.
    If I use the boat 100days a year its $100/day of usage. If I use it once its $10,000.

    A day on the boat costs maybe $200 for 5 people. A weekend is probably about $400.

    Taking them to the movie costs about the same (including a drink/ice cream after).

    So per hour of entertainment it’s cheap. It’s only expensive if not used.

    Blacky
     
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  3. johnmteliza

    johnmteliza Well-Known Member

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    Fortunately as of late Mornington Peninsula holiday houses have benefited from strong capital growth (2nd top in Australia), rising rents in 2018 and being in Melbourne’s popular holiday playground or as it has been dubbed ‘The Hamptons of Victoria’. The area really combined the most ideal coastal holiday destination on the fringe of Melbourne with a great investment opportunity. The popularity of Airbnb on the western side of the peninsula really shows the viability of this mixed use.
     
  4. Ghoti

    Ghoti Well-Known Member

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    I think you may be buying the wrong boats Blacky . My 6.15m boat, including depreciation, has on average cost me $2200 per annum over last 12 years (excl fuel).

    Some years I get better value than others.
     
  5. Blacky

    Blacky Well-Known Member

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    True. I wouldn’t spend nearly $1k/m/year.
    but wait till you need a new engine $15k-$20k , and the trailer packs it in $5k.

    I’m not sure I would be comfortable doing the trips I do with a 10years old outboard!

    Blacky
     
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    Depends on how many hours you have on it and how well you look after it doesn't it? Hence the $1000/m
     
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