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Guidelines you Need to Consider as you Purchase a Houseboat as the Main Home
Buying a houseboat, house barge or even a floating home to live in is different and at times advantageous than buying land or a house seeing that you get to enjoy benefits like deductions from the house interests and if you want to live well in a houseboat, you need to involve an agent who has more knowledge in the field to guide you and also consider the following tips in your boat buying process because you will have additional insights.discover more
To start with, you need to consider where you will source your financing and understand the implications of the source, and most houseboats are financed by a recreational vehicle loan or a floating home loan with the appraisal being done case by case but all these cases mostly have either 30 years of amortization and 10 years of cash out or 20 years of amortization and a requirement that you should pay 20% to 30% down payment and gaining a fast pre-approval, you need a good credit score and am existing income that provides solid payment of interests.click for more
The other consideration that you need to make is getting the houseboat to proper inspection, which is a requirement for all houseboats to go through before finalizing on a purchase, where they undergo a marine survey that inspect the interior and also conduct a haul-out inspection for insurance companies and the lender to determine the values, and your tip in this one if to make sure you are prepared to pay the survey and lift out from water while making sure that you employ the best vessels surveyors and divers, who are mostly available from many lenders.
Next, you need to budget for the purchasing fees that come with the houseboats and this may means covering for some costs like the sales tax, some homeowners association fees, an annual licensing fees based on the size and value of the house boat but other costs like the property taxes may be avoided while still remembering the costs that may come up in future like the annual licensing fee. click for more
The last tip is that you should be aware that the process of buying a floating boat is based on a complicated decision that should be made patiently without a hurry, whereby you should take your time to conduct a constructive research that will help you find out the information you need to know about floating boats and prepare in advance, while putting into consideration the rules and regulations put in place by the state. A houseboat will give you a lot of fun due to the freedoms you will enjoy.