The first thing to consider when buying a
houseboat is your financing options. Unlike buying a traditional brick
and mortar home, you can't take out a mortgage to buy a houseboat.
Because of this, you're going to need to take out a special loan to
purchase your houseboat and along with that special loan is going to
come a higher interest rate and you probably won't be able to finance
any more than 80 percent of the purchase price of the houseboat.
On the other hand, houseboats can be more affordable than traditional
brick and mortar homes.
While interest rates may be higher, purchase
prices are lower, allowing you to get into a houseboat for a lot less
than you would an ordinary home.
Unlike traditional brick and mortar homes, houseboats can offer you an
abundance of freedom. If you want to travel, you can take your home
along with you. If you don't like your neighborhood, pick up your house
and move elsewhere. The freedom offered by a houseboat is one of its
biggest benefits.
Another benefit of owning a houseboat is that you don't have a yard to
take care of. There won't be any mowing in the summer or shoveling a
driveway and sidewalks in the winter.
One thing to consider when buying a houseboat is that houseboats do not
come with deeds like brick-and-mortar properties do. Because of this,
there is more chance for fraud on the houseboat market. When buying a
houseboat, make sure that the person selling you the houseboat has the
legal right to sell it.
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