So, how are we doing this?

Anyway, we added up all the costs (the load) if you will, of living in our home. These included the mortgage, homeowners insurance, HOA dues, utilities (gas, electric, cable). That number came to be known as DryHome costs.

Then we added up all the costs (the load) of living in a marina on a boat This number is called WaterHome costs.

Those costs were comprised of estimates of:

1) boat payment

this was based on the asking prices we are seeing for boats in our size range -- 38-45 feet long and the financing estimates for the balance after down payment.

We can drive this down by putting more down on a boat or finding a less expensive boat.

2) moorage (liveaboard costs more here) in a marina

3) insurance for the boat loan

4) liability insurance if we live in a port of seattle marina

5) utilities

6) boat maintenance ($6000 per year which equals $500 a month) going into a savings plan. I've been told this is a pretty good number by quite a few experienced boaters and brokers.

DryHome Dollars - WaterHome Dollars = about 1.5 K savings.

I've built up a spreadsheet with all the costs, so we can verify out estimates as we go along including up front costs like, down payment, surveying fee, hauling costs for survey, and licensing of boat, etc. All those are known and reasonable.

We have also built a down payment by selling off stuff that we don't want (cars, scooters, bicycles, etc) or can't have on the boat or don't want to store.

So it makes sense for us to do it, financially.

And that's how we are doing it.