I save £3k a month after ditching my flat to live on a narrow boat – it started sinking once but I love it | The Sun
A FATHER saves thousands of pounds each month living on a house boat.
James Posner, 44, a commercial property sector surveyor, has hailed his new lifestyle as “London’s best kept secret” amid the crippling cost-of-living crisis.
After splitting from his wife, James started looking for a new place to live.
With the exception of cramped bedsits and house share rooms, there was nothing within budget.
With five young children to look after, time was ticking and the two available options were far from ideal.
Taking a leap of faith, James bought a narrowboat for £12,000.
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Despite some perilous moments – notably when his new home started to sink at one point – James is happily integrated in his new mobile dwelling on the Grand Union canal in Hertfordshire.
He said: “With the cost-of-living crisis, narrowboat living was the best decision I could have made. Property prices in London are massively expensive but I have so much financial freedom on the boat.
“It has been a learning curve, with the boat even sinking at one point while I was fixing it up, but I wouldn’t change my lifestyle. I plan to live on my boat for many years to come.”
In spite of that, living on a houseboat is not without its drawbacks.
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Living by the water can invite bugs and mosquitoes into your space.
Mooring fees and depreciation are further stumbling blocks which turn off buyers.
However, James says his children love spending time on the boat.
He reveals: “It’s really fun for them. When I was living at the boat yard while renovating, there were other families and people there to socialise with. We were like a small community of nomads.”
Currently, James claims his new quarters have saved him thousands of pounds.
The bulk of his expenditure involves fuel, gas and electric, a licence for the home, insurance and maintenance – totalling around £300 monthly.
This meagre outlay allows the father-of-five to save over £3000 at the end of each month.
James said: “Living on the boat has given me so much freedom and, considering it only costs me around £300 a month with all my bills and expenses, I don’t know why more people aren’t doing it.
"I always say narrowboat living is London’s best-kept secret. I’m constantly amazed that it’s a floating home with everything I could possibly need with unlimited outside space.
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“Living in a close community that moves around and is so sociable is really great. As long as I’m able to, I’ll be living on my narrowboat for a long time.”
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