Living aboard while financing

[danielfillmore]

So I noticed in FLA they have rent to own boat options where you pay like $600/month -The slip fee of $500 includes water electricity, cable for television, free wireless internet access and use of the marina bathroom, and the rest goes towards the principal on the boat, and you live aboard rather than paying rent at an apartment or a mortgage. As someone who is trying to make the switch to live aboard, this option appealed to me. My question is do any companies or anything offer anything like this in Pittsburgh? Seems like this is popular along the southern coasts but not so much this way. I'm just trying to think of a way to finance a boat and live aboard and still be able to afford docking/slip fees, etc.. Thanks!

[Grantz]

There isn't anybody around here that I know of that does anything like that. When you are figuring out your monthly budget, you just need to figure in those costs associated with owning/living on a boat.

[galleyslave]

Let the buyer beware. I never saw a "rent to own" option in the north either, however it is common in the south. In my experience, most of those "deals" are boats that have either been sunk, been abandoned at a marina or generally have other serious issues. Frequently there are liens against them.

You should NEVER purchase a boat without first having a Marine Survey done by a licensed Marine Surveyor, especially if it's a boat big enough to live on. Likely any marina you want to dock at is going to require insurance, and the insurance company will require a survey.

Many people think it's a cheap way to live, I can ASSURE you it is NOT. I don't mean to be discouraging, living aboard can be phenomenal, but it can also be tough.

Good luck.