We have just made a complete change of tack in our residency plans since my last post. This week we found a little apartment in Melbourne City that we were really happy with and decided to put the boat plans on hold for a while. Provided the bank will approve our application for a home loan we will be the proud owners of an apartment in King Street by next week. The change came in the wake of some thoughts on the practicality of living on board a yacht in Melbourne for a significant amount of time. We are very happy with this decision and the fact that we are not over extending our selves on the amount we are paying for the apartment we expect to be able to buy a small sailing boat within the next 12 months.
4 Comments
Hi,
Congrats on your purchase. I think it was wise to change your plans from living on a boat given Melbourne’s climate.
Cheers
Rollie.
Thank you
Yes, I´ve had the melbourne weather comment before. Yet to experience a Melbourne winter though.
Brg,
Valberg
Congrats!! I am not sure about your plan of living on a boat but certainly think you have done the right choice to go for a flat. After 5 yrs value of this flat and the boat will not be the same.
A
Tnx Anil. After thorough financial analysis the boat plan would have made sound financial sense if deployed in the short term, ie. upto 3 years. The only drawback was the inconvenience of not having all the facilities you have in an apartment. The pinnacle of the boat plan though was to have a substantial amount of money at the end of the 3 years to make a deposit on a house/appt, which in effect would have meant 3 frugal years in rather inconvenient circumstances.
Brg,
Valberg
ps. I am sure my father will too readily agree with you point of view though