Vancouver float home finally sold with potentially dirt-cheap mortgage
If you’ve ever dreamt of living on the water, you have one fewer option: a Vancouver float home that has been on and off the market for years was finally sold, and the mortgage is potentially dirt cheap.
B17 at 1525 Coal Harbour Quay sold this week for $320,000.
According to the listing, despite being 41 years old, it has seen some major improvements, has been “tastefully updated” over the past few years, and looks quite cozy.
On top of the usual homeownership costs, there’s also an annual moorage fee of $12,906. The City of Vancouver also has a live-aboard licence fee of $1,900 annually. However, even with those fees factored into total costs, the owner of this home will still pay way less than the typical detached homeowner in Vancouver.
- You might also like:
- A Look Inside: $420K float home for sale in Coal Harbour (PHOTOS)
- BC Hydro customer owes thousands in diverted electricity case
- Price of Vancouver home plummets below what it last sold for
Century 21 In Town Realty
The listing says, “Just bring your clothes and start enjoying your West Coast life!”
Century 21 In Town Realty
It offers 484 sq. ft. of space inside and provides a unique perspective on city living. It’s steps to the seawall, Stanley Park, and tons of businesses, and when the weather is nice, the owner has a rooftop deck to watch life sail by.
Century 21 In Town Realty
The listing also states there’s “no foreign buyer ban on this type of home.”
We initially wrote about this home almost exactly two years ago when it was listed for $420,000. So, over the course of two years, the price dropped by $100,000 before finding a buyer. It also sold $30,000 under the final asking price of $350,000.
Century 21 In Town Realty
Believe it or not, the home offers two floors of living, with a workspace, open closet area, and bedroom on the second floor. There’s also a TV mounted on the wall.
Century 21 In Town Realty
If this home were still for sale, with a 20% down payment ($64,000) on a five-year fixed-rate mortgage, you’d be looking at monthly mortgage payments of around $1,430.
Century 21 In Town Realty
Could you see yourself living in a float home like this?