Once you have paid for your boat, your only real cost of living expense is slip rental and electricity. Internet is usually free (albeit slow) and water is included in slip fees. Internet is really the only compromise, but one if you shop your area, you may be able to find a solution to. . . In my case, I left a nicer, floating dock marina to go to “less-than” finger-piered wooden deck marina, but saved $75 in slip fees monthly and was able to get Comcast, wired from the dock, to my boat and the marina is still pretty damn nice. I feel I came out ahead honestly.
Now I know as I said that, half of the boating community probably didn't even make it through that paragraph without about choking on their laughter, thinking out loud, "BWAHAHAHAHA! He thinks those are your only real living expenses?!? Is he saving for haul outs, bottom jobs and unseen emergencies?" Well, of course I am. But you don't include your emergency fund for when your hot water heater breaks in your home, or your A/C stops working when you are paying your mortgage, so don't be ridiculous. Everyone knows there are maintenance costs to owning a boat... But so are there to owning a home and I'm not hitting you over the head with them, so please, quit trying to convince yourself this is a more expensive way of living. Maintenance costs are a constant, whether on land or sea and one I'll come back to, but I do concur - One that can not be ignored on a boat.
Bottom line, my total cost of living (rent and utilities) is closer to $300 than $400 and in today’s market that won’t even rent you a room in someone’s home on Craigslist (I know, group one, remember? I’ve been there) and for those that would say, “Yeah, but you are still paying rent! I’ll one day own my home!”, I’d answer really? You’ll own your home? How much do you pay in property taxes annually? What’ll happen if you stop paying your property taxes - Who will own your home then?
Now I realize this is not a given, but speaking for at least Florida and Texas - There is no property tax on a boat. I might also add, as both of these states are great places to live on a boat, they also don’t have a state income tax either, so if you are still working, there is an extra 8-16% you can retain, when compared to other states. If I was making a top ten list as to reasons why to live on a boat, these would be number one and number two: Ridiculously low rent and even lower taxes.
The one other criticism I’ve heard most often, when I decided to move aboard a boat is, “You’re a fool! A boat is just a hole in the water you throw money!” and to that I’d answer, so... What is rent? Or a mortgage? Yes, I still pay rent, but a fraction of market rates and I pay far less in utilities (with the ability at some point to completely get off the grid - solar and wind solutions are far cheaper for a boat than a home). For those with a mortgage, they’d laugh and say, “Well, I’m able to write off my interest and real estate always appreciates”. As to the interest argument, if you do have a loan on your boat, the same is true here, as the IRS considers the boat a second home and for the ridiculous argument that real estate always appreciates, I'd answer "Really? Do you remember 2008?". Most of us are still recovering.
Another thing about 2008, I really don’t want this article to digress into a political discussion of economics, but if I am being honest - 2008 has a lot to do with my choices, leading up to buying my boat. 2008 was never really dealt with - It was papered over with trillions of new dollars, printed and thrown at the problem. A problem with the big banks (that caused the problem) making risky gambles for high percentage returns. Gambles who's losses were passed off to the American tax payer... And they say we don't have socialism in this country! Hah!
The money that the Fed printed, like so many corks, plugged the holes in the dike of our economy that still continues to bleed (and will) until corrections are allowed to happen organically. All we did was kick the can down the road, but the worst is still coming. That dike will break under the weight of 20 trillion in debt and quadrillions in unfunded liabilities (check out the 2008 movie I.O.U.S.A., a non-partisan, objective discussion on where our country really sits). . . And this was before trillions more in debt!
Many economists consider the U.S. Dollar to be the next “bubble” to pop”). With that unemployment could soar... People will again be walking away from their homes, unable to pay their ridiculously high mortgages and this time, the lender of last resort won't be able to fix the problem with additional printing. The civil unrest that ensues will not be pretty, as the preppers run for the hills and everyone else hunkers down as all hell breaks loose (think Black Lives Matter and Berkeley riots on steroids, but coast to coast).
While you landlubbers sink, now my argument floats: Right out of the marina and onto the sea, possibly into a nice anchorage where I could weather the storm. Fishing pole in the water, coupled with tupperware cans of raisin bran (and powdered milk), rice and a deep stock of canned beans and veggies. While the world implodes around me, I will survive and possibly even put on a few pounds. So I guess there you have reason three and four. Recession proof and jokingly (though not much of a stretch) “zombie apocolypse” proof. And even for a time, rent free!
Granted, the safest place to own and live on a boat, is back in the marina. But when and if trouble ensues, our troubles can float away. So yes, we tolerate the pittance of rent we pay for the conveniences of the marina. But also there is access to CHEAP utilities, a place to park our cars and a private restroom (for marina tenants and their guests) that includes showers and often times other amenities like swimming pools, gyms, and club houses. I guess this would be reason number five. Let’s call it public amenities without high rent or an HOA fee.
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If you missed either of the prior chapters:
Chapter One: Not A Pot To Piss In, can be found here...
https://steemit.com/boat/@buckethats/why-i-decided-to-live-on-a-boat
and Chapter Two: Cash Talks, Bulls... Walks
https://steemit.com/boats/@buckethats/why-i-decided-to-live-on-a-boat-chapter-two-cash-talks-bulls-walks
Keep watching, as I will next publish Chapter Four: Pride of Ownership vs. Rent (and Section 8 Neighbors)