A life afloat is without a doubt a wonderful experience that should be enjoyed by anyone with the desire to try this wonderful alternative lifestyle.

However, without immediately appearing negative, and contrary to popular belief, it is a dream that is sadly not easily financed. Out of every 100 people with a real desire to live life afloat, less than 5% will be able proceed due to lack of funds. Basically, unless you have a minimum 50% deposit of the price you are looking at, your dream will unlikely to become a reality.

At this point, you are likely to consider one of the following;

a) Be happy with the explanation and continue your search
b) Reluctantly abandon your search due to lack of funds
c) Be offended as to why the lack of funds would restrict you and continue your search anyway!

Whatever your decision, we wish you the best of luck and hope that the rest of this information will help make your dream become a reality.

The most common type of residential craft, moorings and guide prices.

There is a saying that says, "anything that floats and has a roof, is a potential houseboat" This is true, but as a company we will only market boats that we believe are in good order, show potential, are on good secure residential moorings and are realistically priced.

The most common style of mooring and representing 95% of all residential boats on the Thames are on:

PREMIUM RESIDENTIAL MOORINGS

The value and therefore normal asking price of these types of moorings are based upon the value of the craft and the mooring as two separate items. Once this is done, there may be a little value added to test the market and the boat with the mooring will become the package asking price.

Remember, you will be buying the craft and the right to moor only. You will NOT own the mooring and will need to pay mooring fees to the mooring owner. If finance is required, you will need to add the monthly payment amounts to mooring fees, maintenance, insurance and river license. Moorings can not be financed so the only finance is via the craft itself. Below is an example of a £90,000 package price breakdown of costs of a small 65' Dutch barge;

Approx guide to costs
	£	Monthly	Annualy
Value of craft:	65,000
Premium for Mooring:	25,000 ---------- 90,000
80% loan to value of boat based at 65,000:	52,000	600.00	7,200.00
Cash deposit required:	38,000 ---------- 90,000
Moorings based upon £ 100.00 per foot per annum:		540.00	6,500.00
Mooring License:		66.00	800.00
Average Maintenance costs:		100	1,200
Totals:		1,300.00	15,700.00

Premium moorings are usually month to month or year to year to arrangements. This may immediately fill you with fear and will possibly result you asking the obvious question "what security do I have!". The answer is, as secure as it can be as it will be a recognized mooring from a mooring owner that earns his living from renting the space to you. There is always a very slim chance that the mooring will cease to exist but it is extremely rare and almost unheard of. The only way to be 100% secure is to buy a long lease or freehold mooring, but to do this you will need to add at least another £100,000 plus to the asking price. (this is explained later).

Most boats with Premium moorings will be of a steel construction and include canal boats, wide beam canal boats and Dutch barges converted to live aboard. A few may be timber but as they are almost impossible to raise finance against and require more maintenance, they are best avoided unless in great order. Some may be of a fibre-glass construction.



LONG LEASE OR FREEHOLD MOORINGS represent approx 5% of the remaining moorings on the Thames and are therefore very rare and in high demand. They are of course the best to buy, but will be more expensive and demand much higher deposits. Again a minimum of a 50% deposit will be required.

The style of boats on these types of moorings will be potentially Dutch barges but most likely, purpose built houseboats such as seen on Taggs Island at Hampton, Middlesex. The moorings will have gardens, road access, parking or garaging, mains sewerage and either a long lease or freehold. Finance in most cases will be against the land and not the moorings and again, a minimum of a 50% deposit will be required.



IN SUMMARY

Life afloat is a fantastic way to live, but in short, it is very much governed by the cash you have as a deposit and the finance you may require. You will see that by the time you have added all the costs involved in buying a premium mooring and boat can be very expensive if large finance is needed. It is our opinion that boats are normally bought in cash or with substantial deposits.

We hope this information has been of help and if still keen to pursue a life afloat, we would be delighted to help you achieve your dream.