Floating Home FAQ's Frequently Asked Questions About Floating Homes...

Expert: Graham Marden, Prudential Northwest Properties Reprinted with permission by the Oregonian Publishing Company Topic: What should I know about buying a houseboat? Q: I'm thinking about buying a houseboat. What should I know about financing? A: Floating homes are considered personal property, so the few lenders that offer loans on them have different requirements than for a home on land. Interest rates are usually about 1 1/2 - 2 points higher than for real property loans. These lenders require a 20 percent down payment, with the balance at approx 7 1/2 to 8 percent interest over a term of 20 to 25 years. There is also a 5 year balloon product for approx 6 1/2 to 7 per cent. These vary according to the exact amount of the loan, setting up an account at the respective lending institution for an automatic deduction for your monthly payment, etc. To make the deal more attractive, some sellers offer to carry the sales contract themselves (also known as seller financing), which allows them to ask for a lower down payment and/or lower interest rates than banks typically do. Q: How do houseboat inspections differ from those on land? A: The most important aspect of inspecting a floating home is the dive or float survey. This entails going under the home to check on the condition of the logs, stringers, shims, pins,  flotation and chaining to the mooring slip. All lenders require a dive survey. The cost is about $350-$550. In addition, I always recommend an above-water-line inspection, as a buyer would do with a home on land. The cost is $275 to $400, depending upon the size of the property. Q: What should I know about homeowners insurance for a houseboat? A: Homeowners insurance is easy to obtain but is slightly higher than for homes on land. The annual premium is about $550 to $1,800 depending upon the total amount of the coverage for the home,(excluding the value of the slip), personal belongings, etc. Q: What are some positive features to look for in a houseboat? What are some "red flags" to watch out for? A: Positive features to look for include: * Having the slip included in the sales price; * Decking that is part of the house and/or a swim float that is attached to the main house which offers additional outdoor decking space for viewing the river and entertaining. * A cement float, which lasts longer and is easier to maintain than a log float (in newer homes with log floats, however, look for steel stringers); * A metal roof, which is easier to maintain and lasts longer than composite, rolled or shake roofing materials; * A place to moor your boat or other water toys. Some "red flags" watch for are * Windows with cracked seals; * Damaged or weathered siding; * Chaining & bracketing properly to the mooring slip; * Problems with the float or built-up sediment under the house, both of which can be detected in a dive survey. (Also, if the home had a second level added after original construction, have your inspector make sure that the home is structurally sound.) Q: What should I find out about the moorage? A: Check the by-laws or lease agreement for possible restrictions, such as whether pets are allowed; the size of the boat that can be moored to your home; the availability of RV parking, storage and a garage for your car, all of which can be hard to find. Also, find out whether slips are available for purchase or by rental only. Even if you own your slip, there is a Home Owner's Association (HOA) fee which typically range from $210 to $350 per month and includes your; water, garbage and sewer service, plus maintenance for the common areas including the walkways, parking lot, landscaping and entry gate, if available. If you do not own your slip, the rental/moorage fees will be higher, usually from $400 to $700 per month. w/ the same services included. Q: What should houseboat novices know about life on the water? A: Part of living in any moorage means hauling your groceries down the ramp and your garbage back up. Plus, most moorages do not have garages to keep your car from the elements. Only three moorages can guarantee you a garage and two others have them on a rental basis only. The largest moorage in town, Jantzen Beach, has some carports w/ storage, but these are not owned or transferable, they are rented and available on a wait list basis. What one is really buying on the river is a lifestyle unavailable anywhere else. For most people, life on the water provides tranquility and a respite from the trials of life itself. It also offers buyers the opportunity to view an abundance of wildlife not found in the city. Q: What about resale prospects? A: Due to the strict financing requirements, it usually takes longer to sell a floating home than a house on land, on average six months to 1 year (compared to a land average of 50 to 65 days in the Portland-Vancouver area). The appreciation of floating homes followed that of homes on land throughout most of the 1990s. From 1993 to 1998, the values soared.  However, during 2001-2003 annual appreciation slowed considerably during the economic slowdown. But over the past two plus years appreciation has gone up again along w/ the increased values on land for real property. As the available inventory of slips diminishes, the values should continue to gain in the future. Q: Anything else I should know about purchasing a houseboat? A: Buying a floating home offers a unique opportunity for a different and relaxing lifestyle. Slip prices range from about $50,000 to $150,000, depending on the moorage, the exact location of the slip, and whether a garage is included. As with homes on land, it is possible to have a new house custom-built to your specifications. For further information about building a floating home, obtain financing, inspections, insurance and viewing of properties on the river, my contact data is noted below. To read additional information about floating homes, click this link - Floating Homes 101.

Call me or email me, 24/7, with any questions you might have about floating homes. Graham Marden is a Realtor with Prudential Northwest Properties in Portland, Oregon. Marden, who holds the Graduate Realtor Institute designation, has been selling floating homes on the river and real property on land in the Portland area for over 15 years. The homes Graham sells for his clients have been featured in the New York Times, the Oregonian, and many other publications nationwide. Graham Marden ranks among the Top 1% of real estate agents nationwide in terms of overall Web site traffic. Graham can be reached at 503-807-4504 or by clicking this link and emailing him directly.

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While you are here looking at Portland floating homes, feel free to take an unhurried look around. Discover how Portland real estate agent Graham Marden can help you bring your personal real estate dreams to life... Graham Marden's cutting-edge Internet tools make buying or selling any home a virtual breeze... The full web site link menu is located at the bottom of every page on this site. After clicking through to the page of your choice, simply fill out the brief form found in Graham's Portland Oregon Floating Homes Quick Contact Email Panel located near the bottom of that particular page. Click "Send" when you are finished, and Graham Marden will get back to you in short order to help you assess your personal situation. Graham's Portland Oregon floating homes consultations are always free of charge. Call today and chat with Graham Marden about your personal floating homes in Portland search -- or send Graham an email in 2 seconds using the email panel located immediately below... Graham Marden is a Realtor with Prudential Northwest Properties in Portland, Oregon. Marden, who holds the Graduate Realtor Institute designation, has been selling floating homes on the river and real property on land in the Portland area for over 15 years. The homes Graham sells for his clients have been featured in the New York Times, the Oregonian, and many other publications nationwide. Graham Marden ranks among the Top 1% of real estate agents nationwide in terms of overall Web site traffic. Graham can be reached at 503-807-4504 or by clicking this link and emailing him directly.

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Portland Oregon Floating Homes - How to Get the Maximum Number of High Bids When Selling Your Floating Home: It's a numbers game...and if you work with an "average" real estate agent, who doesn't have a prolific presence on the Internet, your home won't get seen by the staggering numbers of qualified home buyers that Graham Marden's homes are seen by, 24 hours a day...Graham Marden's site is in the Top 1% nationwide in terms of total hits...

Portland Oregon Floating Homes - A Real Estate Tip That May Save You Thousands When Purchasing a Floating Home: Reading this one, single, very informative Web page can save you thousands of dollars on your next home purchase...find out what the most common critical mistakes are that home shoppers make, when shopping for a floating home (or any other type of home)...find out why it pays to use a qualified expert when purchasing a home...

Portland Oregon Floating Homes - Floating Homes 101 - A Basic Outline of Important Terms and Concepts: Find out the difference between a raft float, a barge float, a box float and a pontoon float...get fast access to easily understandable definitions and basic floating homes terminology...find out the two basic options for "docking" your floating home and living on the water in style...can you fish directly from the window of your floating home? (yes!)...

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Portland Oregon Floating Homes - Floating Home FAQ's: Top floating homes expert Graham Marden answers some frequently asked questions about floating homes...find out how floating homes are different from typical real estate properties, what's involved in the floating home buying process, and more...get fast answers to questions commonly asked by novice buyers...Taxes? Insurance? Moorage facilities? Buy the slip or rent it? Get fast answers here.

Portland Oregon Floating Homes - Floating Home Marinas and Moorages: Once you've decided to purchase a floating home, you'll need a place to put it...find out about the top floating home marinas and floating home moorage facilities in the Portland area, right here...access info about marinas, moorages, and what's involved in the entire process of owning and mooring a floating home. Quick links to the top marinas and moorages in Portland.

Portland Oregon Floating Homes - New Homes in Portland: View all the new homes for sale in the Portland Oregon area...view beautiful high-rise condos and townhomes in the downtown Portland Oregon area...view new single-family homes, townhouses and more...view every single new property for sale in the entire Portland Oregon area...call Graham Marden if you don't see what you are looking for...Graham can find you properties not available on the Internet...

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Portland Oregon Floating Homes - Contact Floating Homes Expert Graham Marden by Email Right Here: Taking the first critical step and contacting the No. 1 floating homes expert in North America is a very smart idea, if you are considering buying a floating home - or selling your existing one. Graham Marden is one of the nation's top floating homes experts, and you can contact him 24/7 using this Quick Contact Email form.

Graham Marden specializes in helping his clients locate the very best Portland Oregon floating homes, Portland Oregon house boats, Portland Oregon boathouses, Portland Oregon moorages, Portland Oregon marinas, Portland Oregon house boat rentals, Portland Oregon rental house boats, floating homes for sale in Portland Oregon, floating homes in Portland Oregon, house boats for sale in Portland Oregon, house boats in Portland Oregon, boathouses for sale in Portland Oregon, boathouses in Portland Oregon, house boat moorages in Portland Oregon, and house boat marinas in Portland Oregon.

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