Is living on a boat a stupid idea?

Say you were gonna get $20ishK, you have zero prospects of being able to buy property, renting is getting more tedious and you might get blacklisted anyway for an arrears + damage issue. Is buying a cheapish yacht and living aboard a terrible idea?

The way I see it rent is currently $17K, plus all bills which easily makes it >$20K p.a.

Other than the initial price of buying the boat, marina fees are $10K or less (often including electricity etc), then boat insurance and registration.

Provided you’re a low maintenance person, it seems the better option. I ask tho coz it doesn’t seem a popular avenue so is there something I’m missing