Seven Things to Consider Before Buying a Houseboat

February 26, 2019 11:54 pm Published by 617 Comments

Are you planning on buying a houseboat sometime in the near future? If so, congratulations! This is an exciting decision to make for you and your family, and it means you have some memorable excursions on the horizon. Few things are more rewarding than waking up on a houseboat each morning, with the water literally right in front of you.

That said, this is not a process you should go into ill-informed. A houseboat is a major investment, and one you will probably live with for a long time. With this in mind, here’s some advice on things to consider, from a trusted provider of houseboat rentals in Lewiston, CA:

  • Usage plans: Do you plan to live on your houseboat full-time, or will it be reserved for holidays and weekends? And how many people will be living on this boat, whether full- or part-time? Such questions will help you determine which size and style of houseboat you should choose.
  • New or used: Used houseboats are considerably less expensive than new ones, but they can also come with needed repairs, and the element of the unknown. If you feel confident in your own ability to perform simple boat repairs and maintenance, go with a used houseboat. Otherwise, buying new is probably your best bet.
  • Costly repairs: When you buy a houseboat, you aren’t just committing to paying for the boat itself. You are also signing up for the maintenance and repairs that it will inevitably need. Make sure you are in a place to comfortably afford that before buying a houseboat yourself.
  • Financing: How do you plan to finance this major purchase? You generally will need to put down a 20 percent deposit on your houseboat, and can get financing for 20 to 25 years, depending on its condition and price. Talk to a financial planner to learn more about your financing options.
  • Tax deductions: Did you know that the interest you pay on your houseboat loan can probably be deducted from your taxes? It is similar to buying a traditional home in this way. This is another factor to think about when assessing your houseboat budget.
  • Know your budget: Speaking of financial concerns, it is imperative that you know how much you can reasonably afford to spend on a houseboat before you take the leap and buy one. Sit down with your spouse and a financing specialist before you start looking around at different options.
  • Transport is expensive: Here’s another long-term cost that comes with buying a houseboat: transporting it. Say you move to another state—your houseboat will need to come with you, and moving it won’t be cheap! If there’s a chance you might move soon, you might want to postpone buying a houseboat.

Buying a houseboat comes with a lot of unseen responsibilities. Fortunately, you can enjoy all that houseboats have to offer another way: with houseboat rentals in Lewiston, CA! Get in touch with Trinity Alps Marina today to learn more about your rental options. We look forward to hearing from you!

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