What happens to unspeakable in floating homes? No, it doesn’t go into the river. Floating home toilets are handled with Honey Pots. These are barrels of fiberglass or steel that are under the floating home. They usually (and should) have an access panel through the deck that can be lifted up in case something goes wrong and you need a plumber to work on the honey pot.  How it works is this: you flush, the contents of the toilet bowl are flushed into the honey pot. The honey pot has a small pump that pumps the contents  to a main sewer line that runs under or next to the docks.  All the honey pots in the  moorage are pumped to a large holding tank usually located near the bottom of the ramp that comes down from the land into the moorage. That larger holding tank is serviced by a powerful pump that pumps the contents into the main sewer system for Portland. Thus, you have public sewer for your home.

If you notice sewage backing up in your toilet or shower, call a plumber. Not all plumbers work on floating homes but I can refer you to a good one. The maintenance of the honey pot is that periodically, usually every 5 years or so, the honey pot pump will need servicing or replacing. Cost is from $600 to replace. You should ask the diver who inspects your home when you buy it to take a look at the honey pot and tell you if it is in solid condition under the water. Your home inspector can take a look at the top of the tank and let you know if it appears to be working correctly. If the home inspector doesn’t know anything about honey pots, and you are concerned about it, ask a plumber to take a look.

Maintaining a well working honey pots insures that you can swim and eat the fish that you catch from your very own dock!

Once you find the perfect floating home is definitely NOT the time to call a lender. Call the lender before you begin to look! Loans to purchase floating homes are available from your credit union or from some small local banks. This year, it looks like the best rates are available from Banner Bank. By best rates, I am talking about 7.1% with a 20% down payment. Get friendly with the lender you choose so they can keep you informed about any changes in the loan market or terms available as you look for the perfect home.

When you make an offer to buy a floating home, it should be subject to both a property inspection and a float inspection. The property inspection will tell you all the good, the bad and the sinkable in your potential home. The float inspection is very important. I will write more about the float of a floating home in another post! The main message here is to get your money ready by finding out exactly what is expected of you by the lender you choose.

Wow. We had quite a blow over Easter weekend. The house rocked! This happens very rarely. The storm blew in from the South West and we had white caps on the harbor….and my poor tulips had to demonstrate their resilience! Floating homes are attached to the docks by stationary metal hinges called stand offs so they are very secure. None the less, it is always exciting to see a big storm. Our boat is moored right at our house, tied with docking lines to our swim float. This part actually came loose during the storm but we caught it before any damage was sustained. There are some great new listings on the river right now! Why not go looking? Give me a call or shoot me an email.

Floating Home loans are different than traditional or conventional mortgages. They are not usually offered by mortgage banks. Instead, you will shop for a floating home mortgage from a credit union or a smaller bank. The interest rates are higher than conventional mortgages. Right now, you can get a conventional mortgage for around 5% if you have excellent credit. Floating home interest rates today range from 7.1% to7.9% depending on the lender and the way you agree to repay the loan (like an automatic deduction from the lender’s bank). The term of the loan will be about 20 to 25 years. You will need a down payment of at least 15% to 20% of the purchase price.  Floating homes are considered ‘personal property’. Never the less, you will enjoy the same benefit of owning a home as other homes; the interest on your mortgage is tax deductible. Cover image courtesy of © Thomas Stankiewicz/Look/age fotostock.

Floating Home buyers are starting to cruise the docks. It is fun to check out floating homes, and Portland is one of the few cities on the West Coast that enjoys a thriving floating home community right in the city! Financing is a bit different for floating homes. It is more expensive than regular mortgages, and it is not offered by all the banks. Your credit union may offer you a good option if your goal is to purchase a floating home. Other options are smaller banks and credit unions. This year, Banner Bank seems to have the best rates. They are offering 7.1% interest if you open a checking account there and have the house payment automatically deducted from that account. Other mortgage rates seem to be hovering in the 7.9% range. Terms are 20 to 25 years. The down payment is 20%. But the great news, financing is available!  I will offer more information on how to buy a floating home in days to come!Great Music to Cruise the Harbor. Cover image courtesy of Sauvieisland.org. 

So beautiful, the line of blooming Cherry Blossom trees. Spring in announced by these delicate, fluffy blooms. People are out taking walks, children are playing, the grass is getting ready for Easter eggs.

Cherry Blossoms on the West Bank

Wow! Look who moved in to the East end of Hayden Island! The beautiful pair of Bald Eagles was noticed by me when we returned from a day of sailing on the Columbia. I am looking forward to watching them through the summer. I wonder how they will get along with the Osprey who live on the Dolphins across the channel.

Cover image courtesy of Wikimedia Commons.

Bald Eagles On Hayden Island

Deck Gardens in Bloom

There is not a lot of storage on a floating home, and the lifestyle in floating homes is informal…..so you don’t need a huge house! Find one that you love, then make an offer to the owner. Once accepted, find out about the neighborhood….they are all different. Do they accept pets? Is there parking for guests? Is there a policy regarding parties and noise? Where can you park your boats? (people in floating homes usually have more than one boat so when one of them is not working, they can use the other one!) Have an interior home inspection and a marine float inspection (approximately $300 each), negotiate repairs that are required…..and voila! Get ready for your best summer ever! Cover image courtesy of HomeDSGN.com. 

Peaceful floating homes

REad about the Federal First Time Home Buyer tax credit that may qualify you or someone you know to receive this (basically) free money when you purchase a home before December 1 2009!http://www.federalhousingtaxcredit.com/2009/home2.html

Photo by Thomas J. Story

Homes in Tomahawk Moorage on a late winter day

This shot was taken from the decks of the Dew Drop Inn as we headed out for a sail in mid February.

What is the most challenging thing about living on the water in a floating home? Lots of people might think it is getting your shopping from your car to your home. Here are some thoughts on that subject!

• If your moorage doesn’t have enough dock carts, buy one of your own. Label it and remember to take it with you. Leave it in the parking lot when you go out, and bring it down to the house when you get home.
• Invest in several (like 10) umbrellas and a good umbrella stand. That way you should always have one at the floating home and one in your car.
• Don’t bring packaging to your house. Deposit it directly into the recycling area. After all, what goes down must also come back up.
• Take your own shopping bags to the store. Use one for your recycling and others to shop with.
• Get over it already! Walking the docks in the rain is simply part of the life style of floating home living! Enjoy the experience!

Cover image cortesy of LeahGlass.blogspot.com.

Lots of people want to live on the water….but how to make that happen? Floating homes are considered personal property so you will have to speak with a lender who makes loans of personal property. Usually smaller banks or credit unions will have good loan programs for buying a floating home. Usually the loan will require a down payment and you might pay a small bit higher interest rate on the loan. As with any purchase, it is a good idea to line up your financing while you are looking so you are prepared to make an offer to purchase when you find the home you like.

Cover image by Blog.popflys.com.