Actually my reply was looking at the three pics above. I sort of blocked out the whole house purchase and concentrated on the toys.

Cessna, and I am sure other companies, have lending programs that are VERY similar to house buying. Financing the purchase of a plane need not be at all like financing the purchase of a car.

 

can't buy a house on my block for 600k..[mine is 900 sq feet ]...sorry..

 

I've seen an exact one like this couple weeks ago. They look pretty cool. The driver was in 50's with a suite (executive kink of a guy)...That is a sweet car!!!

 

I would take the plane, but parking & maintenance fees would kill me.

 

Is it true that if you live on your boat, the loan isn't treated as a home loan for tax purposes?

Why wouldn't a bank treat a nice big yacht that will be your primary residence the same as a house?

 

I'm not sure how boat loans are treated but there're actually a "living aboard" crowd, usually retirees and well-to-do self employed, that actually live on their boat, have a blast, and save serious $$$ for doing so. This is really not a choice in some 3rd world country, but these are people who'd just rather be on the water. The immediate problems i see are storms, seasick, highspeed internet, and corrosion for parking the stook near the ocean

[Edited by SixthGear on 05-08-2001 at 12:32 PM]

 

[QUOTE]Originally posted by Sunchild
[B]Is it true that if you live on your boat, the loan isn't treated as a home loan for tax purposes?

 

And houses don't sink...... except in California

 

I cannot tell you how happy it makes me to see that even our international friends can make fun of California.

 

From a financial perspective, the house makes much more sense. I wouldn't even buy a S2000 until I owned my own home!