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Did it for a while back in the 90's. Bad points:
Cold & wet in the winter, everthing will smell of damp
empting the Elsan and filling the water up gets old fast
Diesel prices are extortionate and combined with mooring fees and marina charges [If you like having water and electricity without running a generator eat up a lot of your savings on rent.
Much denser housing than flats!
Everything you leave outside or on your boat will get stolen and/or thrown into the water.
people will just walk onto your boat to have a look around or to get to theirs.
The canals stink of sewage in the summer from tourists who just empty tanks into the water and shitty drains.
make sure you have a PO box to get all your post sent to because good luck getting a postie to go to "leaky bucket, Gas street basin" same with any jobs or non email correspondence.
Its good fun if you're single or if there's only 2 of you though.