Thats a very good question…
I think that answer starts off by looking at where I am in life right now. I’m 51 and want to do the corporate working thing until I am 55. At that time I want to ease off the workload and work in a less taxing job until I’m 60. By that time I will be able to get at my Super on a tax free basis (as the rules currently stand). Combine this with the fact that Trace and I are committed to live in our current house while Trace’s parents are alive, they live with us in an extension. So that means tht there is no real date when I will eb able to “set sail” so to speak. I feel waiting until “something happens” before I buy a boat will be very difficult for me…I am not a passive tpye person, I like to make things happen rather than leaving things to chance. So the next 4 years are work as usual and the next period after that will have some time available to do something. Co-inciding with this timeframe will be the (hopefully) graduation and independance of the kids who are costing a small fortune at the moment through Uni and other costs. So there might be some spare cash.
What has this to do with deciding to build…well four things…
– I will not be able to afford to pay out a large single sum in one hit due to circumstances;
– It will be at least 10 years before we are in anyway independent (Trace and I);
– I love building things and I beleive this would be a wonderful project for me;
– Building timeframe might suit nicely with my Stage 2 retirement.
Having re-read what I wrote above…I can see some very tenuous links and some confused timeframes. So I guess I have not really understood why I want to build…let me try again without the BS.
– I have an ego, I would love to build a boat and I think I can do it;
– I can’t afford to spend much money for the next 4 years, so this is one way of spending less money over the next 4 years and still be moving towards my dream;
– I dont want to let go of the dream and if I sit on my hands for at least 4 years I will go mad;
– I am trying to convince myself, without much luck, that building a boat will be cheaper than buying a boat, seriously I dont think it will be;
Yes, thats more like the real situation….
But can I afford it? I doubt it but heres my “logic”…
The first step is in the planning, and believe it or not I have got a lot of that thinking done. I understand the problems to be overcome and the key ones are…
– Finance and cash flow…see above;
– A place to build, dont underestimate this;
– The design, getting a designer, design and path forward to create a realistic design;
– Materials, which ties directly into the build type, from scratch, get parts supplied, etc;
– Systems like propultion, services, etc
– A place to moor that does not break the bank;
There are others but thats a start.
Timeframe…I will devote my next blog to that.
In the meantime here are some of the sketches I have been doing…
See you next blog.