When you think of floating homes for sale, images may come to mind of quaint, tucked-away cottages with stunning water views. In reality, the perks of owning a floating home extend far beyond breathtaking views to include a tight-knit community atmosphere and a close connection with nature. However, there are a number of challenges to owning and living on the water that you should consider before you make the plunge.
The Difference Between Floating Homes and Houseboats
While a floating home is typically larger and more upscale than a houseboat, the terms are often used interchangeably. A houseboat is a traditional boat or barge that has been modified for use as a home, while a floating home is typically built on a foundation to rise and fall with the tides. Floating homes are often more stable than houseboats and have the advantage of permanent access to utilities like water and electricity. Read more https://www.sellmyhousefasthoustontx.com/we-buy-houses-anna-tx/
As more home buyers seek alternatives to cookie-cutter home designs, floating houses are one type of alternative housing that has been gaining popularity. They offer a unique lifestyle that combines serenity with lively charm, and they’re often cheaper than traditional homes in coastal cities like Seattle. However, you should carefully weigh the pros and cons of owning a floating home before you take the plunge.
Among the biggest challenges of owning a floating home is navigating maintenance challenges. For example, the home’s moorage system may need to be repaired or replaced periodically as it gets weighed down by furnishings and renovation projects. In addition, the home’s exterior must be regularly maintained to ensure it holds up to moisture and other elements. Similarly, homeowners face other longterm costs like HOA fees and rent if their floating home is part of a community with such amenities.
In addition to maintenance challenges, many buyers face financing obstacles when purchasing a floating home. While many lenders have expanded their mortgage offerings to include floating homes, they are not available everywhere. You should talk with a mortgage expert at Redfin to learn more about your options and get preapproved before you begin shopping for a floating home.
The average price of a floating home in Seattle is about $2,908,000. This is slightly lower than the average price of a single-family home in the city, but still higher than the national average of $1,570,000. The most expensive floating homes are found in the communities of Eastlake, Portage Bay, and Westlake. In 2020, the average sales price of a floating home in Eastlake was 72% higher than that of a floating home in Portage Bay and 47% more than a floating home in Westlake.
Despite these challenges, floating homes can be an excellent option for buyers who are looking to live in a waterfront community with a strong sense of community and a natural environment. The perks of owning and living on the water are far-reaching and can be a rewarding experience for anyone willing to work through the challenges.
