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  1. #1
    Platinum Member Platinum Member fantastixvoyage's Avatar
    My Boats:
    Join Date
    Jul 2003
    Livonia, MI

    Boat as a permanent residence...

    Anyone know info or a good link? Curious what the requirements are and if it works for us northerners as well...

  2. #2
    Registered dreamer's Avatar
    My Boats:
    boatless... with money in the bank!!
    Join Date
    Mar 2002
    bed head galley....thats it... write off the interest as a second home

  3. #3
    Registered User
    My Boats:
    1990 28 Apache SOLD!, 1990 16 Wahoo DC, 1973 40 Kingscraft
    Join Date
    Jan 2007
    Mansfield, TX
    Quote Originally Posted by dreamer View Post
    bed head galley....thats it... write off the interest as a second home
    I agree. Even if you did make the boat a principal residence all you could deduct is the interest. Better to keep the house as a principal residence - you can deduct the interest and property taxes, maybe a home office. Might even be able to qualify for some energy saving credits and anything else that might come up in the futre.

    Wait a minute - are you trying to claim the boat as a personal residence so that you can be exempt from income on the sale of your boat? That would be the only good reason - but to justify the trouble you would have to make atleast a $10-20K profit, which is pretty hard to do on a boat.

  4. #4
    Offshoreonly Advertiser Offshoreonly Advertiser
    My Boats:
    Join Date
    Jan 2001
    spring valley,ny usa

    boat as a residence

    Make sure that your boat insurance has "LIVE ABOARD" coverage if you do this.

  5. #5
    GLH is offline
    Platinum Member Platinum Member GLH's Avatar
    My Boats:
    Join Date
    Dec 2002
    Burlington, VT
    Quote Originally Posted by dreamer View Post
    bed head galley....thats it...
    -Sleeping Bag

  6. #6
    Platinum Member Platinum Member CigDaze's Avatar
    My Boats:
    Cigarette 35 Cafe Racer
    Join Date
    Jun 2001
    St. Petersburg, FL

    Straight out of IRS publication 936:
    "A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities."

  7. #7
    Diamond Member #001 Charter Member C_Spray's Avatar
    My Boats:
    2000 Formula 382 with Innovation 600's
    Join Date
    Oct 2000
    Coastal North Carolina
    If you mean REALLY living aboard, try Passagemaker Magazine's website That's where you'll find out the hardcore stuff about actually surviving onboard.
    Retired! Boating full-time now.

  8. #8
    Lip-Ship- Grafikworx Glad Platinum Member pm203's Avatar
    Join Date
    May 2003
    MA and NH
    There is a marina across the water from Boston. It has million $$ views of the city and obviously is right on the water. Electricity and water are included and there are no real estate taxes. You could spend short money on a large old boat and live for cheap. I woudn,t do that , but there are alot of people that do.

  9. #9
    Join Date
    Jul 2006
    Glasgow, UK
    I lived on a boat in Scotland for about 6 months solid. One thing I would recommend is not only make sure you have the right boat, make sure you have the right marina.

    The one I was in had a great friendly community, plenty of services and close to all shops and the essential bars and restaurants etc.

    If I could afford it I would be living on a boat today!!

    (Plus its quicker and easier to clean than a house!!)


  10. #10
    Neno the mind boggler VIP Member glassdave's Avatar
    My Boats:
    Batboat, 38 Scarab Thunder, 16 Sidewinder, 27 Magnum
    Join Date
    Sep 2001
    toledo oh
    Quote Originally Posted by fantastixvoyage View Post
    Anyone know info or a good link? Curious what the requirements are and if it works for us northerners as well...
    what ya got in mind Neil? i know some people that have done it up here but winters kinda suck. Hell in the summer i spend about 3 nights a week on my boat. and yes, whatever you do get the biggest boat you can. i am thinking about picking up a Gran Sport i found at the right price just to park next to my Scarab an pretty much use as a summer home although my Scarab has plenty of room to keep me happy.
    Throttles- Cleveland Construction 377 Talon
    08 OPA Class 1 National Champion
    08 Class 1 Geico Triple Crown Champion
    08 OPA High Points Champion
    10 OPA Class 1 National Champion ( happy now Ed! )

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