Floating Home season is upon us, and now is the time you will see more of these unique properties on the market! www.PortlandFloatingHomeInfo.comÂ Purchase fnancing is available from smaller banks and credit unions. The interest rate is usually about a point higher than regular financing. The process is simple:Â
Speak with a potential lender about how you might finance your purchase. Floating homes are personal property, so they would be financed like a large boat or an expensive car. The mortgage interest is tax deductible just like on real property.
Start browsing the moorages for floating homes, and learn a bit about what the floating home lifestyle is all about. Moorages come in all kinds of sizes and styles, but a factor to consider is whether or not you prefer to own your slip (where the home is moored) or rent a slip. The difference in price can be significant. Owning a slip gives you an asset but increases your initial purchase price. Renting a slip costs more on a monthly basis (usually around $400 or more).
Hire a professional who knows something about floating homes to assist you with looking and buying. Floating homes require a bit of specialized knowledge during the purchasing process.
Get ready to enjoy a very special living environment! Portland is one of the few water way areas that enjoy floating homes.