Im thinking of living on a yacht, dont have one yet but probably around 32ft and marined in Brighton marina.

Can anyone tell me the advantages/disadvantages of this?

I've not done it myself, but l worked with a guy once who did here in California.
It was a lot smaller than what you're talking about though.

Some possible negatives:

I'd imagine u could get cabin fever after a while.
Not as much feeling of privacy & security.
You're much more subject to danger from bad weather than if u live in a house.
The noise of the water. (This would not bother some, but it would drive me nuts!).
No yard! -
Depending on the parking situation, it is probably a hassle for visitors, so u wo not get as many.

l may not be able to speak of the advantages of such
however l am able to write that the more prepared and creatively willing to venture=the more you shall grow in spirit and strength of character

Pros: everyone assumes you're fabulously wealthy and exotic. You're automatically respected. Men want to be you, women want to be with you. Your life is, henceforth, one of decadent luxury and bliss.

Cons: no lawn

Advantages - cheaper than living in a house.

Disadvantages - many actually. very damp in winter due to condensation. Cold - which radiates up from the water. Cramped - very. Noisy - wavelets slapping against hull, assorted creaks & groans, high pitched noises from the rigging if it is a sailing yacht, rain on the cabin top etc. Many many sleepless nights when it is either choppy or windy.

It is lots of peoples dream - the reality in a UK berth is nothing like the dream!

Been there, done that for 3 months, never EVER again!!!

It is an extended adventure in camping. You haul ur supplies down the dock. You haul ur tail to the shore side head every morning. As mentioned, parking can be a problem. So can foul weather. A house is not dependent on a bunch of pilings to stay in place. Very inefficient for heat.
On the plus side, it is mostly very peaceful. Water lapping against the hull, shore birds sounding off, wind whistling through the rigging r all part of the ambiance that make living on a boat very cozy. Another feature is lousy neighbors. It is easier to move a boat than a house. But the best feature is that it usually cheaper to live on a boat.

Advantages.
1 - You can move where ever u want to, whenever u want to.
2 - The ocean is pretty cool.

Disadvantages.
1 - Marine supplies r significantly more expensive than their residential counterparts.
No joke.
2 - You will be doing far more maintenance than u ever would have suspected. This is assuming that u would want to go to sea from time to time. Many boat owners never leave their slips & sea worthiness is not a great concern of theirs (way, WAY cheaper to live on a 'log' instead of a boat).
3 - Your 'house' can sink.
4 - The heads (bathrooms) on boats tend to reek. it is almost unavoidable.
5 - l do not know the slip rates r where u live, but where l work most people l know r paying $20+ per foot. There r extra fees to live aboard at most marinas here.
Boatyard repairs r something to be feared if you're on a limited budget.

advantages/stay younger live longer//disadvantages not secure,

l think its a good idea no bad advantages that l could think of

u got alot of good ansers myself l have been a full time liveaboard for almost 30 years now 16 motor yachts later l am now on a 52 ft chris craft & l cannot even think of any other life.the dampness that was mentioned yes it is there l have had boats like that but the nicer u get u can just about resolve all ur concerns but u if like me u start small & move up.this is the 2nd to the smallest yacht l have owned but by far the best, my largest was 77ft but this one has a full size house galley lots of living space about 850sq ft thats about close but for me alone it is the best two no problem.if the bug bite u u willnever look back it is a grand life good luck to you

l spend a lot of time living on my yacht - quite a bit smaller than yours - 26ft & also on Dutch barges.
Heads/shower: be prepared to pump out regularly or use the marina facilities.
Marinas r expensive, especially on the South Coast. You may find it much cheaper (and more peaceful) in a harbour somewhere.
In the UK u will need some kind of heating in winter. The cooking stove will not suffice.

Advantages - can be cheaper than a house. If u love being rocked to sleep by water at night there is no alternative. If u r planning a voyage it helps u get to know ur boat & affords u plenty of time to work on it. The view from a boat is often wonderful.

Disadvantages: You have to get on & off the boat in all weathers. In damp weather it can be hard to get ur clothes dry. You need to watch ur watch ur water consumption or keep filling up. You might have to listen to the sound of rattling halyards against masts all night (other peoples). Icy decks r very slippy. You will not have so much space & will need to rationalise ur possessions- It is no good having a Ming Vase on board.

Living on a Yacht? there r several advantages & disadvantages.

Advantages: It is a peaceful experience if u r riding at anchor, or a mooring ball. Living at dock, u miss the movement of a boat that gives the peacefulness. it can be less costly that living ashore, depending on ur location. If u r still working, ur family sedan will be exchanged for a dinghy, land transit will be public transportation. Friendship & camaraderie is great

Disadvantages: If at dock in a marina, this can be a hassle with other boaters, & the general public. There r costs that creep up on you, hull cleaning, boater insurance, hauling out, general boat maintenance, whether or not u r using ur boat or not.

We found that our best experiences were underway in the Bahamas, costs were about half that in Florida, but we did provide our own sources of entertainment. We also had a pretty nice swimming pool.

It is essential that both u AND ur partner really want to do this (that is why l am now ashore). Enjoy