Seattles unique floating residence community never fails to capture the attention of newcomers and visitors to the city. These charming and historic homes offer an adventure to explore sparking imagination, about what it would be like to call one of them
Presently there are 520 floating homes remaining in Seattle all situated on Lake Union. They are predominantly found in the neighborhoods of Eastlake, Portage Bay and Westlake each with its dock that undergoes constant evolution. The vibrant community of floating homes in Seattle is made up of individuals who share a deep appreciation for waterfront living.
The debate over whether these dwellings should be referred to as houseboats or floating homes has persisted over the years. While traditionally known as houseboats floating homes differ in their attachment compared to their boat like counterparts scattered across the city. These residences are tethered to city utilities for power, water and sewage services. Lack a motor or hull. Despite being anchored on floats than ground floating homes in Seattle bear more resemblance to traditional land based residences, than other types of houseboats when it comes to their structure. Both houseboats and floating homes offer residents a lakeside lifestyle.
From Modest Beginnings, to Enchanting Communities
While many contemporary floating residences are constructed with floats, a majority of the dwellings in the Seattle area still rest on bundled logs dating back over a century. These homes are perched atop floating log raft foundations that incorporate barrels beneath them to ensure stability and extra buoyancy.
During the peak of Seattles timber trade Lake Union served as the epicenter with massive logs being gathered and transported through the water channels. A number of individuals seized the opportunity to salvage and group together logs from the lake to construct cost effective (albeit questionable) housing options.
Presently numerous original floating homes have undergone renovations. Been reconstructed from scratch on their existing floats. Some have been. Replaced with contemporary concrete floats of similar dimensions. Despite these changes the historic allure of the neighborhood remains intact providing a setting for residing on Lake Union.
Is Investing in a Seattle Floating Residence a Wise Choice?
In contrast to fluctuations in the Seattle real estate market over time the floating homes market has consistently appreciated in value independently. This specialized niche market is relatively shielded from market trends due, to its supply – only 520 homes exist and regulations prohibit any new constructions.
When someone constructs a house they must match its size to the one being replaced due, to the “net zero” policy. The combination of housing supply and consistent demand from buyers makes this option appealing.
Considering Purchasing a Residence? Factors to Keep in Mind
Living in a floating home differs from residing in a neighborhood. It’s essential to consider these factors before embarking on the home buying journey.
What Kind of Moorage Does Your Floating Home Have?
In Seattle floating homes are primarily found on condo, fee cooperative owned docks nowadays although there are some leased dock options. Owning a floating home along with the water its moored in provides a secure ownership arrangement.
Seattle has implemented an equity ordinance to regulate rents for leased docks. Its advisable to seek out a floating home situated on fee condo or cooperative slips for greater control, over your living space. Real estate taxes vary based on the type of dock you select.
You’ll need a specialist to navigate this market
While these homes offer the allure of waterfront living they’re floating properties that require expertise beyond what a standard real estate agent can provide. A specialized professional will connect you with the service providers assist you through inspections and facilitate the home buying process. Each dock has its intricacies and a broker specializing in floating homes can help you steer clear of mistakes.
Securing a mortgage, for a floating home isn’t typical with lenders so partnering with a lender is necessary albeit at slightly higher interest rates. The same goes for services like insurance agents. It’s crucial that your broker has referrals and firsthand experience with them. Roofers and painters must also have expertise due to the challenges posed by water exposure. The escrow process is overseen by a closing agent who’s well versed in the nuances of each docks legal structure.
Value is heavily influenced by location, within the dock when it comes to determining the worth of a floating home.
There are around 70 end slips in the community making them constantly in high demand. The coveted end moorage homes come with price tags, such, as one that sold for a record $4,500,000 in 2020. In contrast a smaller home located in the middle of a leased dock recently sold for than $300,000.
Typically prices for homes in owned slips start at approximately $500,000 600,000 and go up from there based on various factors like float size, parking availability, boat moorage options, views and the presence of a rooftop.
When you move into your floating home it’s advisable to enlist the help of divers to ensure your home is level unless you’re keeping everything exactly as it was before. The divers adjust the barrels, underneath the logs to provide flotation and maintain balance. Each barrel offers around 400 pounds of lift. If you plan to bring in furniture or make renovations like installing a large quartzite countertop later on you may need to have your home leveled again.
Divers can be your saviors when your belongings accidentally end up underwater. It’s wise to be pals, with a diver so they can fish out items like that BBQ that took a dive during the Seahawks game. Often umbrellas, lawn furniture, sunglasses and keys end up in the lake by accident. Keep your diver on speed dial. Make sure to compensate them for their help. Another handy tip is to keep a magnet on a string for retrieving lost keys since everything seems to find its way into the water
Considering Living on a Home?
Living on a floating home isn’t suited for everyone. If you enjoy being surrounded by water and nature while still having city access it could be an ideal choice for you. Space is limited so having thousands of shoes might not work in this setting. However if you’re open to downsizing possessions and embracing scenery this lifestyle change might just be perfect for you. Many residents who embrace this community often find themselves falling in love, with it over time.
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