Living on a Yacht - a Cheap Alternative to a Living in a House?

Maybe you have dreamed about spending time sailing around the Caribbean, the Mediterranean or the Pacific. Living on a yacht closer to home might just help you save enough money to afford that dream.

While a yacht can cost as much as a house to purchase, they are not all expensive. Particularly in tough times, lots of people are looking to sell their boats. Some have prices comparable to a caravan or camper trailer. Those with lower prices may well be less luxurious, require some maintenance and/or be moored at a place which is going to require a long sail or cartage to place your yacht where you wish to have it, however there are definitely bargains to be had.

When it comes to mooring your yacht there are of course many places where you can anchor for free. If you're looking to stay in a marina, the fees vary enormously from country to country and place to place, however as a very rough guide you can usually find something around the USD10000 per annum. Fees are usually charged per foot/metre per month. It's also worth noting that not all marinas allow "liveabords" on a permanent basis, some have time limits and some will only accept transient visitors. What you get for your mooring fees may include security, open space and bbq areas, bathroom and laundry facilities, cafes, the provision of water and power and the sale of fuel and maintenance services. Power is sometimes provided as part of your mooring fee, however most yachts now have solar panels and wind generators which will support basic running needs (though perhaps not your microwave).

When you live on a yacht, you don't have land taxes and rates to pay. You will have registration fees, insurance and maintenance costs however.

Living on a yacht means you can move whenever you want, for a better view, a cheaper mooring or just to go places that you would otherwise not get to see.

Another great positive about staying on a yacht, whether you're anchored offshore or in a marina, is the community. For those who love socialising, living on a boat is a sure way to make certain you will always have company. Yachties come from the four corners of the earth and are usually very friendly and keen to share stories, advice and of course a drink or two.

Living on a boat will also guarantee you an outdoor life with way more fresh air and sunshine than you can usually experience in a suburban environment.

If you don't know how to sail a boat and you want to go somewhere you either have to (1) learn to sail, (2) buy a motorboat, (3) stay in port or (4) hire or persuade someone to move it for you.

You totally need to be able to swim.

Living on a yacht means living in a relatively small space. If you can't live without 50 pairs of shoes then liveaboard is probably not for you.

You will have to cart all your groceries to your yacht, either in a trolley along the marina or in a tender from shore to your boat. You have to cart your rubbish out as well.

It is possible to get seasick, even when you don't leave port.

When the weather is poor, you have limited options for entertainment unless you go ashore.

Yachts require regular maintenance and this can be very expensive.

Security considerations are different on a boat, it's harder to lock up, however you may also have the eagle-eyed neighbours watching out for you and yours.

Sooner or later, everything on board is likely to get wet.

The inspiration for this hub came from a visit to a marina which hosts liveaboards on approximately 10% of its boats. As an example of costs, one yacht for sale there was priced at $16,000. The marina fees were $11,000 per annum. This appears to compare favourably with buying a house in the area (@$600,000) with all the associated mortgage and property costs. Obviously the purchase price and mooring fees will vary according to what sort of boat you want and where you want keep it.

If you work out how much it costs you to own your own home on land, with the mortgage, taxes, insurance, utilities and maintenance it may well compare unfavourably with living on a yacht. In some ways this is an astounding thought, given that yachts are generally seen to be the preserve of those with a great deal of money. Living on a yacht may well be a viable cheaper alternative to living in a house, although this of course will depend on the price of housing in the area you want to live in.