That's right. If you can pony up the cash, and maintain the boat (read: elbow grease) it's not a bad choice. But you have to love the boat, and the sea.
Inboard maintenance in cramped quarters ankle-deep in oily bilge muck is not a joke. Any sailboat big enough to live aboard is going to have an engine of some sort. Outboards are probably the least bad if you can make that work and not drop it into the sea, but most have inboards which require some degree of maintenance.