Expenses are another area that demand careful consideration typically when you purchase a yacht financing will allow you to pay for it over a maximum of twenty years vs. thirty years for a home. If you are trying to stretch out your payments this could make your month-to-month living expenses higher than a home that’s the same price. On the other hand boat insurance rates are often lower than home insurance and it’s likely that the property tax will be lower as well. Of course you should plan for maintenance expenses and depending on the age of your boat they could vary significantly. Older boats may cost less to purchase but their maintenance costs can be significantly higher than a new boat.