An increasing number of first-time buyers in London are looking to the waters for their first purchase.
Who can blame them when the average price of a property in Central London is over £1 million.
A sum of money the vast majority of us will never have to spend.
Where as a houseboat is unlikely to cost your more £100,000 all in, despite having ability to be moored in some of London’s most affluent areas.
The Thames follows a 42-mile route through central London, while the city’s waterways cover more of the capital than the congestion charge zone.
The Canal & River Trust, which oversees 100 miles of waterways across the wider London region, including the Grand Union Canal, Regent’s Canal and River Lea Navigation, has recorded a huge rise in boat numbers over the past few years.
Demand for riverfront living has begun to outstrip the supply of moorings, increasing interest in London’s disused wharves, forgotten docks and Thames backwaters.
However those who have made the move from land to water, advise you make sure its right for you.
The romantic set-up is not without its faults, including the lack of running water, power, warmth and space.
Furthermore, it should be remembered that houseboats are not without their additional costs – and maintaining them isn’t as simple as you might think.
How much will a houseboat set you back?
(In addition to the original boat cost)
Boat Safety Scheme (BSS): Before you do anything else, you will require a valid BSS, the boat equivalent of a boat M.O.T. This boat safety certificate will cost about £150. (They are valid for four years)
Licence: Well firstly you will have to obtain a boat licence, costing between £500 and £1100 a year depending on the length of the boat.
Mooring: Unless you are fine will constantly moving your home, mooring in London will cost from £2000 plus a year.
Insurance: Depending on your provider and vessel, boat insurance is likely to cost around £200.
Fuel, maintenance and pumping out: Though subject to the boat and usage, this will probably set you back around £200 per year. Boats are famously temperamental and will, unless brand new, require almost constant maintenance and upkeep.
Is it for you?
Possibly, though you will need a reasonably large amount of funding as first-time boat buyers find it almost impossible to get a mortgage.
If you enjoy your home comforts and are not ready for a more rugged way of life, perhaps look elsewhere.
Though if you fancy a lifestyle change which will force you into a more simple and minimalist way way of life, then perhaps this is the move for you.
Though I’d be swift, the land to water movement is not new in London, and space along our canals and rivers is limited.
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HeadlineAre houseboats the affordable solution to London’s housing crisis?
Short HeadlineAre houseboats a solution to the housing crisis?
StandfirstAs London house prices soar, house boats are becoming a more viable option
An increasing number of first-time buyers in London are looking to the waters for their first purchase.
Who can blame them when the average price of a property in Central London is over £1 million.
A sum of money the vast majority of us will never have to spend.
Where as a houseboat is unlikely to cost your more £100,000 all in, despite having ability to be moored in some of London’s most affluent areas.
The Thames follows a 42-mile route through central London, while the city’s waterways cover more of the capital than the congestion charge zone.
The Canal & River Trust, which oversees 100 miles of waterways across the wider London region, including the Grand Union Canal, Regent’s Canal and River Lea Navigation, has recorded a huge rise in boat numbers over the past few years.
Demand for riverfront living has begun to outstrip the supply of moorings, increasing interest in London’s disused wharves, forgotten docks and Thames backwaters.
However those who have made the move from land to water, advise you make sure its right for you.
The romantic set-up is not without its faults, including the lack of running water, power, warmth and space.
Furthermore, it should be remembered that houseboats are not without their additional costs – and maintaining them isn’t as simple as you might think.
How much will a houseboat set you back?
(In addition to the original boat cost)
Boat Safety Scheme (BSS): Before you do anything else, you will require a valid BSS, the boat equivalent of a boat M.O.T. This boat safety certificate will cost about £150. (They are valid for four years)
Licence: Well firstly you will have to obtain a boat licence, costing between £500 and £1100 a year depending on the length of the boat.
Mooring: Unless you are fine will constantly moving your home, mooring in London will cost from £2000 plus a year.
Insurance: Depending on your provider and vessel, boat insurance is likely to cost around £200.
Fuel, maintenance and pumping out: Though subject to the boat and usage, this will probably set you back around £200 per year. Boats are famously temperamental and will, unless brand new, require almost constant maintenance and upkeep.
Is it for you?
Possibly, though you will need a reasonably large amount of funding as first-time boat buyers find it almost impossible to get a mortgage.
If you enjoy your home comforts and are not ready for a more rugged way of life, perhaps look elsewhere.
Though if you fancy a lifestyle change which will force you into a more simple and minimalist way way of life, then perhaps this is the move for you.
Though I’d be swift, the land to water movement is not new in London, and space along our canals and rivers is limited.
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