Houseboats, Yachts and Cruisers: A Second Home On the Water?

When you think "home on the water", what do you see? That second home on the beach? Maybe a cabin by the lake.

I have another idea to float by you...

How about a boat?

Houseboats, yachts and cruisers are possibly the ultimate second home on the water. Or would that be "in the water"?

Your floating second home will likely come in one of two forms.

Houseboats typically look like a cross between a pontoon boat and an RV. Yachts and cruisers look more like a traditional boat. Both offer all the amenities a second home should have - kitchens, bathrooms (called "heads" afloat), electric generators, even satellite TV is available.

Prices range from a few thousand dollars for a small used houseboat to millions for a luxury yacht you could cruise the world in.

If you're in the USA, you could even get Uncle Sam to help you buy that home away from home. As long as your floating getaway has kitchen and bathroom facilities, it should qualify as a bona fide second home, meaning the interest on any loan is deductible on your income tax just like your primary residence.

[This is not tax advice. Seek counsel from qualified professionals.]

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