Alternative Housing

Floating Home Meet Log Cabin = Floating Log Cabin

I grew up in Seattle, so I was familiar with floating homes before I ever saw Sleepless in Seattle. These fun waterfront (water-top, I guess is more accurate) homes can be great if you don't mind replacing yards and grass with a lake or river. Of course, they're not practical everywhere, but if you live in one of the areas where floating home communities are popular, they can be a fun condo alternative. They can also make for great recreational or vacation properties (I'm sure you'd have no trouble renting out such a unique vacation home either)

And if you like the rustic look, you can now find builders who will create floating log cabins with all the comforts of a land-based home.

As one company writes, "A Floating Cabin is designed to provide recreational housing on the water. Built on an aluminum frame with encapsulated, foam-filled floatation, the Floating Cabin adheres to all U.S. Coast Guard rules and regulations. In essence, the Floating Cabin is a houseboat with a hull ID number that can be equipped with a motor or transom for relocation. Most units are shipped to marinas to be used as overnight accommodations or as water condominium investment properties. Additionally, individuals purchase the Floating Cabin as investment opportunities or to rest at the end of their dock on lake-front property."

Prices start around $50,000 at http://floatinglogcabins.com/

Types of Floating Homes

There are just as many styles and designs of floating homes as there are traditional land-built homes.  If you're still deciding what kind you want, it can be helpful to know the general categories floating homes fall into:

Cabins -- These are small, rustic shelters, with a "deliberately primitive look."  They're often built using simple materials, such as wood, and simple construction methods.

Cottages -- These are a "more neighborly version of a cabin," and they tend to be small but intricately detailed.  They are often painted and planted to look friendly and charming.

Suburban House -- Yes, even in floating home communities, you can find "suburban" homes.  These are basically just floating versions of middle-class suburban houses. 

Townhouse -- Since marinas are already like townhouses (narrow slips flanked with houses on both sides), many floating homes comform to that sort of design.  These houses are urban-inspired, two-story dwellings with solid side walls, flat roofs, and open front and rear elevations.

Pavilion -- A little more rare, the pavilion style home is like a free-standing temple.  They're built to take advantage of the views of the water.

Source: The Houseboat Book

Before You Buy a Floating Home...

I love the idea of living in a floating home.  In fact, buying one is something I'm seriously considering.  Of course, there aren't that many places where they're available.  Seattle's Lake Union was made famous by Sleepless in Seattle, and then Portland, OR has floating home communities, as well as San Francisco.  I'm sure there are some on the east coast, too.  But what I want to talk about today is what you should know before you buy.

For one thing, you can't finance a floating home the same way as you do one on land.  Interest rates are higher, and you definitely need %20-%25 to put down if you go through a bank (sometimes sellers are willing to make deals and help you finance it another way).  This is because a floating home is considered personal property rather than a house. 

Also, homeowners insurance is higher than with traditional landlocked homes. 

And, much like condos, you're going to be stuck with homeowners dues.  You'll also have to pay a slip fee, unless you are able to buy your floating home in a place that sells the slips too. 

This doesn't mean you should get discouraged.  It's just important to know what you're getting yourself into.  For more information, visit this floating home FAQ.