Ever thought of living on a houseboat as a solution to the cost of living?
The cost of housing continues to rise and rise. Between January 2022 and 2023, consumer shelter prices rose by 7.3%. It might seem that there’s little to nothing you can do about the cost of living. While it’s difficult to control life’s expenses, there are some ways to reduce your living costs. Aside from staying with family and friends or getting roommates, have you ever thought about living on a houseboat?
Living on a houseboat is a simple and fun way to drastically reduce your living expenses and become even more frugal!
Read on to learn about how to begin living on a houseboat.
Owning a Houseboat
The prospect of owning and living on a houseboat is an intriguing and exciting way of living. Living on a houseboat gives you the chance to reduce how much you own and become more intentional with how much you really need. Additionally, it gives you the chance to travel on different lakes or oceans and see the world in a way you’d never be able to if you lived on land.
Let’s get into the process of living on and owning a houseboat. Buying a houseboat is a huge choice and impacts many aspects of your life – where you sleep, what you eat, how many people you can host at home, and more.
Life on a Houseboat
What’s life on a houseboat like? For one, it’s quite similar to living in a regular condo, apartment or home. You’ll have access to food, electricity, water and internet. Additionally, you’ll still need to do regular upkeep that you’d do with a normal home – think cleaning and repairs.
However, there’s one major difference between living in a houseboat and conventional living – you’re on water! When you’re closer to nature, you’ll have time to appreciate the little things, slow down and learn how to be happy with what you have. Living on a houseboat may help you practice slow and intentional living. You’ll be able to appreciate more simple pleasures in life, including the warm breeze, birds chirping, the sounds of the water, the sunset and more!
Life on a houseboat is well-suited to those pursuing a minimalist lifestyle who want a smaller living space and are mobile, flexible and adaptable.
Is It Cheap to Live on a Houseboat?
To answer the question “Is it cheap to live on a houseboat?”, let’s first get one fact straight first. Owning a houseboat is a lot cheaper than owning a conventional condo or home. However, the price of a houseboat can vary a lot. On the lower end, a used houseboat might cost between $25,000 – $80,000. On the high end, a houseboat might cost upwards of $100,000 for a luxury or deluxe houseboat.
Costs Associated with Living on a Houseboat
There are some other costs with owning a houseboat, including:
- Interest on repayment for the boat – if you buy the boat from a dealer and finance it, you’ll have interest. Avoid this charge by paying for your new boat in cash.
- Mooring and liveaboard fee – the fee to dock at a marina, internet, electricity, garbage disposal, laundry fees, and more. On average, this will run you around $1000 per month.
- Maintenance – all the expenses relating to regular boat upkeep, including any repairs. On average, this might run around $100-150 per month.
- Insurance – this will run you around $100 per month.
Let’s say you purchase a boat for $50,000 and you monthly expenses are $1300 per month ($1000 mooring and liveaboard fee, $150 maintenance and $100 in insurance).
If you want to own a home, on average, you’re looking at a purchase price of $416,000 USD in the United States.
When one adds up the cost, the average houseboat owner saves nearly $1000 per month versus living in a conventional home – and a lot more on a mortgage. When you go to buy a houseboat, you’ll want to set a budget and stick with it.
There are other costs associated with living on a houseboat such as groceries, but for the sake of this example, let’s say you spend the same amount per month regardless of your living situation.
In summary, is it cheaper to live on a houseboat? Absolutely. The purchase price and maintenance fees for living on a houseboat are lower than a regular home. However, there are still some costs to consider.
Additionally, keep in mind that where you park your houseboat will greatly impact the cost. The cheapest place to own a houseboat is in the state of Mississippi, and the most expensive is Florida.
Should I Buy a New or Used Houseboat?
If you’re just dipping your toes into the world of living on a houseboat, it’s best to buy a used houseboat. Additionally, this is the best option for those who are practicing frugal living. Buying used will save you tens of thousands on a houseboat.
On the other hand, if you’re a serious houseboat dweller who wants a newer, fancier dwelling and you want to commit long-term, a new houseboat may your best bet. Since the houseboat is newer, it’ll likely last longer. Check out marketplaces and local dealerships for new houseboats for sale.
How Do I Get a Deal on a Houseboat?
How can you get a deal on a houseboat? The same way you would with anything else such as grocery shopping and buying clothes to stock your wardrobe – looking for deals! Check out second hand houseboats for sale. You can browse online marketplaces in your area. Facebook Marketplace is always a great place to find cheap houseboats for sale in your area.
When you’re shopping around and find a houseboat that’s suitable for you, remember to bargain! Owners are looking to sell, so it never hurts to ask for a lower price. At the very worst, they’ll say “The price is the price,” but sellers are usually flexible with the cost. Think about it: if you want to get something off your hands, you’re probably going to be willing to lower the price – within reason! Used houseboats for sale can already be a great deal, but why not try to get the lowest price you can?
Rent a Houseboat
Don’t want to fully commit to buying a houseboat? Why not rent a houseboat for 3 months and see how you like the lifestyle? For rentals, check out a website like Houseboating or Book a Houseboat to find houseboats for rent.
Parking a Houseboat
As mentioned previously, you’ll need to park your houseboat in a semi-permanent place. Where can you park your boat? You’ll need to ensure the space you leave your craft is legal and safe. Most likely, you’ll need to register with your local municipality and get a permit to park at a dock.
Another alternative? Parking your boat on a public waterway. Check with your municipality to see if there’s a spot you’re allowed to park your boat. Be sure to check first – you don’t want to be the person whose boat gets towed away. An expensive and not-so-fun experience!
Like This Article? Pin It!
Is it Practical to Live on a Houseboat?
Is it practical to live on a houseboat? If you’re looking for a living situation that allows mobility and the freedom to move where you want, it’s a very practical way to live. Additionally, as mentioned above, when looking at the cost, it’s a lot cheaper to live on a houseboat. In terms of the financial picture, it is more practical and frugal to live on a houseboat as opposed to living in a home you own.
The Benefits of Living on a Houseboat
There are several major benefits to living on a houseboat:
- Nature – by living on a houseboat, you’ll automatically spend more time outdoors. Since you’ll be living on the water, you’ll have the chance to drive around to different parts of the lake or body of water you’re living on, dock at different points and may even take some nature walks around the forests!
- Being part of a community – the houseboat community all shares a common interest – wanting a different way of living! When you own a houseboat, you’ll become part of a group of likeminded people who want to do one or more of the following: cut down on expenses, live a minimalist lifestyle, travel more and enjoy nature. Check your local area to see if there are any groups or meetups you can join!
- Taxes – since you aren’t living on land, you’ll likely have a smaller tax burden. Be sure to check with your municipality and government regarding tax burdens.
- Reduced chores – since you don’t own a lawn, you won’t have to mow it! You’ll save time and will be able to pursue other things – why not spend more time with family or friends – or take up a side hustle?
- A simpler lifestyle – when you own or rent less space, you’ll have less to clean and furnish! By living on a houseboat, you’ll automatically spend less money on furniture and even cleaning supplies. Additionally, since you’ll have less space, you’ll spend less time cleaning your home.
The Disadvantages to Living on a Houseboat
While there are many advantages to living on a houseboat including the three I just covered, there are a few disadvantages that come with this lifestyle. Before committing to living on water, consider these points and decide whether this method of frugal living is for you:
- Taxes – while you might save on land taxes, there may be association fees for living on a boat that’s on public land. Again, be sure to check with your local government and municipality regarding any obligations you’ll have.
- Maintenance and repairs – if your craft suddenly breaks, you’ll need to send it in for repairs. Since houseboats are being in constant use, they generally need more maintenance than regular homes and condos. If you can’t live on the houseboat, you’ll need to seek alternative arrangements. While you might stay with family or friends, be sure to budget for emergency backup funds in case you need to stay in short-term housing!
- Reduced living space – since houseboats are smaller than the average home, you might get antsy with staying in a small space for a long time. Be sure to spend as much time outdoors as you can and get active.
- Commuting – if you need to physically be working in an office or go to a job site every morning, it’s not practical to live on a houseboat. If you want to transition to online work, there are many side jobs and opportunities you can take to work online.
- Ability to host friends and family – since your living space is a lot smaller, large gatherings will be difficult, if not impossible. IF you’re an introverted person, this may be an advantage for you! However, if you enjoy having friends over for dinner, you might feel like you’re missing out on hosting friends.
Can You Live Permanently on a Houseboat?
Can you live permanently on a houseboat? If you’re a mobile person who is flexible and wants a nomadic lifestyle, then yes, you can!
While living in a houseboat might work for many people, it’s important to weight to pros and cons of this lifestyle as opposed to a regular home. For example, you might miss out on some special aspects of living in a conventional home. These include the higher amount of privacy that comes with dwelling in a larger living space, owning and using a porch and backyard, installing a pool (although the lake is always there for you!), hosting a large group for dinner and doing significant renovations on the home to change it.
If these aspects are parts of living you won’t miss, then you may be a perfect person to live permanently on a houseboat! Again, no harm in giving this lifestyle a try. If you’re flexible and have the cash, why not buy a used houseboat and try it out for a few months? Used houseboats will save you money while also allowing you to try out the lifestyle for yourself and see if it’s a good fit.
Conclusion – Living on a Houseboat
In summary, living on a houseboat is a practical and frugal way to live. If you’re flexible, adaptable and have a minimalist and mobile lifestyle, then you should try it out! There’s nothing wrong with declining to participate in conventional homeownership. Living on a houseboat is a cool and fun way to see the world, live with less space, downsize your stuff and enjoy the ride of life!
Like This Article? Pin It!
Janita is a frugal living expert and owner of Frugal Fun Finance. With over five years of personal experience finding and trying out the best ways to make and save more money, she's eager to share her knowledge. Janita's strategies have helped her save thousands of dollars for funding investments and traveling to over 20 countries.
Janita completed training in personal finance at The University of Western Ontario and McGill University, two prestigious Canadian universities. Her expertise has been shared on GoBankingRates, Yahoo Finance, and NASDAQ.com.
