Living on a Boat in Singapore


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Jan 17, 2009
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#1
Anyone has any experience living on a boat in Singapore ie. mooring it off one of the yacht clubs...

Considering the extravagant property prices these days, would it make sense to live on a boat compared to condo living? How much would a small boat cost and what are the mooring costs/mth at these yacht club?

Anyone shares the same dream?
 

pinholecam

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Jul 23, 2007
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#2
Anyone has any experience living on a boat in Singapore ie. mooring it off one of the yacht clubs...

Considering the extravagant property prices these days, would it make sense to live on a boat compared to condo living? How much would a small boat cost and what are the mooring costs/mth at these yacht club?

Anyone shares the same dream?
Better off to moor in international waters. Can 'siam' taxation :D
 

Aug 27, 2009
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#3
bro, if the person cant afford a condo, i wont suggest the person to consider living on a boat. u need to set aside ard $3000 each month depending on the type of yacht boats and club membership you have. i do have a pilot friend who lives on a boat in hk, he chose that because he likes living on a boat and besides he is always flying.
 

izerkudie

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Jan 1, 2010
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#4
boat parking cost?
maintainence?
oil fuel?
tax?

hmmm...:cry:
 

jeanie

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May 19, 2005
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#6
owning a yatch, the breakdown cost is more than 5k a month.
 

madmartian

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May 2, 2009
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Outer Space
#9
- Boat has got no resale value, houses have resale value
- To sell off a 2nd hand boat takes long long time. Houses can be done in days.
- Mooring cost is many many times more expensive than paying your condo maintenance fees that comes with car park, gym, swimming pool, bbq pits, just to name a few.

Unless you have real deep pockets & 200k is loose change to you
 

jeanie

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May 19, 2005
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#10
What about the boat cost itself? Can get one for 100K?
100K?

a slightly better one than a sampan maybe.

for yatch, you're looking at millions.

not to mention membership first.
 

#11
to live in a boat comfortably, you will need at least a 50-60 footer. sailboats are definitely cheaper than yachts.

just google for sailboat or yacht brokers and you can see the indicative prices. usually can knock off 10-20% off those prices..

you can also try getting those diving liveaboard boats for maybe 3-400k..very nice and can even be a retirement plan. but you will need to factor in running costs as well.
 

jeanie

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May 19, 2005
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#12
bottomline is....

if you cannot even afford a house or car in sgp,
dont even think about buying a boat and staying in it.

i dont mean to pour cold water.
 

2evans

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Nov 8, 2007
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#13
Maintenance on a boat is much, much more regular than on a house or condo. It's a real money pit.
 

Dec 28, 2006
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#16
another thing that you have to consider is, will you get sea sick easily :bsmilie:
 

azul123

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Dec 4, 2004
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#17
What about the boat cost itself? Can get one for 100K?
There are those built for living in... the boat is mostly docked, not meant to sail around but is classified as boat so as to get around the taxes I think.


Discovery Travel Channel had one episode with Megan McCormick visited one such Houseboat, the pier was full of these houseboats docked "permanently".

Needs many considerations, waste management for one.. can't just pooped out in the water right? garbage needs proper disposal, how to get fresh water piped in, cooking? wah that is a fire hazard in itself etc..

Capital cost should not be more than 100K but I am sure like many things here, it will add up in some other ways, won't be cheap lah.

../azul123
 

Deyeno

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Jan 22, 2009
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Singapore
#18
actually if you are foreigner working in singapore, and taxed as foreigner, the tax is much higher than local
Your statement is incorrect, tax paid as a foreigner depends on how you are are classified either resident or non resident.

From IRAS:
Tax resident or non-resident?

Different tax rates apply for tax residents and non-residents. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a:

* Singaporean; or
* Singapore Permanent Resident (SPR) if you have established your permanent home in Singapore; or
* Foreigner who stayed/worked in Singapore for 183 days or more in previous year (excludes director of a company).

Otherwise, you will be treated as a non-resident for a particular YA for Singapore tax purposes.
Tax rates for non-resident individuals

Employment income
Your employment income is taxed at 15% or resident rate, whichever gives rise to a higher tax amount.
So quick calculation:
Resident Rate - 20,000 - Tax 0.00
Non Resident Rate - 20,000 - Tax 3000.00


Cheers ....
 

Jukon

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Apr 23, 2006
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West
#19
- Boat has got no resale value, houses have resale value
- To sell off a 2nd hand boat takes long long time. Houses can be done in days.
- Mooring cost is many many times more expensive than paying your condo maintenance fees that comes with car park, gym, swimming pool, bbq pits, just to name a few.

Unless you have real deep pockets & 200k is loose change to you
A 2nd hand 35 feet sailboat cost about SGD $30,000.00.
Mooring cost about SGD $300.00 to $500.00 a month and you get free parking, gym, swimming pool, garden & etc.
 

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night86mare

Deregistered
Aug 25, 2006
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#20
what about those type of bumboat that ferry people to pulau ubin? cannot be that expensive what? :D
everytime it rains and you are floating out in the open seas, good luck with not falling off the boat, especially in a thunderstorm :bsmilie:

anyone who has been in a boat when it rains will know what i mean. you need a really big boat in order to be stable in such conditions.
 

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