Posted on 01/18/2022 11:03:58 AM PST by setter
•Storyline's MV Narrative, a ‘residential community at sea’, has one to four-bedroom apartments and studios
•The ship, which launches in 2024, also features two-storey penthouses that are on the market for £5.8million
•Amenities on board include a 10,000-book library, three pools, a spa, a cinema, and 20 bars and restaurants
(Excerpt) Read more at dailymail.co.uk ...
Micheal Palin around the world in 80 days.
Wasn’t he the one with the tag line..
“Exploring the world so you don’t have to”?
“Food $500 (we eat in)
Utilities $250
Property tax $500
Insurance $85
Etc $200
Maintenance $400 (lots of projects)
So yeah, kinda close. But THAT is for the family. That fee is PER PERSON.”
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What about car payments and insurance and maintenance and gas, your internet and cable bills??
$250 utilities? Is that water, sewage, electric and gas??
Um, no.
So for two people that is $5k/month, or $60k/year. As a retired old geezer, it costs me a lot more than that to live.
Now there are other disadvantages which would make me say no: inflation increases, medical costs, what happens if the ship owners go bankrupt, etc. But the cost is not outrageous.
For that price I would buy a nice Catalina 445 then cruise the East Coast and the Bahamas. Set my own time schedule.
About ten years ago, someone was marketing something similar on the Tennessee and Mississippi rivers. This was a rectangular barge like vessel with a couple of hundred apartments that could be rented like a long term time share. There were three month, six months, year long rental rates. The vessel would relocate about every two or three weeks. I don’t think it went over too well since I haven’t heard anything since about 2012.
“... residents will be charged a ‘living fee’ to cover expenses such as maintenance and food, which reportedly starts from $2,482 (£1,827) per person per month.”
Like paying property taxes in NY or NJ.
One the other hand, the ability to rent out your unit could cover a good deal of that.
Who the hell has that kind of money? I’ve been in the same apartment for 20 years, and my rent is $500 a month. I have central air, dishwasher, garbage disposal, water. I don’t have to pay for trash pick-up. I pay my own utilities, cable, phone, and internet. The building, and area is safe. Two bedrooms, a bathroom, living room, kitchen, and dining room. Also two big walk-in closets, a closet in the second bedroom, and a storage locker in the basement. I’d love to have a new paint job inside, and new carpeting, but I’m not paying to have it done. My painting days are over, so I’ll put up with it until I die. They’ll have to carry me out of this place.
Is it UNSINKABLE? 🤓
Remember, it’s PER PERSON.
$50 /mo cover ALL utilities. We live in the country - no water or sewer bill. We went solar and our electric bill averages about $70/mo. Propane is a big hit in winter.
Vehicles are paid for. Yes there’s insurance. Maybe $100/mo. (good drivers).
So starting at $5500/mo for the two of us? We live a LOT cheaper than that. Sadly Medicare is the single LARGEST expense per month. Can’t get away from that.
For us, we need a baseline of about $50K/year to live comfortably. Pretty much everything is paid for except taxes and insurance, plus medicare.
We budget/amortize $200/mo for break-fix around the property.
Is it tempting? Yes. My wife would NEVER do it. Ya have to realize, we live on a big wooded lot, on a lake. Mountains in tn view on the far side of the lake. VERY red county and far from the ATL.
We’re planted.
“What happens to your investment after the ship is scrapped?”
If you bought into it for a retirement place you’ll be dead before the ship is scrapped.
With 2 week ports of call like St. Louis and Memphis I can see why it wasn’t popular.
Get Covid, be confined to your room with the back-flowing toilet, trapped around the world.
I’ve heard of plenty of retirees that are on constant cruise, they just book 1 ship for a year at a time. Honestly with all the helpers and on ship medical staff and everything else not a bad idea. They’re basically retirement homes, but with rum drinks.
$2,482 per month is cheap for renters in San Francisco and Los Angeles. I prefer to live on land where I can tend a garden.
If you use that same $366K to buy a house or condo, after you die your heirs get to use or sell the asset. Chances are the asset will be worth at least what you paid for it (not including the monthly maintenance fees.)
This is more like buying a luxury motorhome to live in that depreciates to almost zero after 20 years.
There have been a few incidents of pirates targeting cruise ships. I don’t know if pirates = terrorists, but both would be awful.
Maybe pirates just want passengers’ jewelry and stuff; I don’t know.
We seriously considered retiring on cruise ships. The cost would’ve been much less than what my in-laws were paying at their retirement home.
We’ve met several people on cruises who do that.
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