A woman who couldn’t afford to get on the property ladder in Toronto has revealed how she beat the market by purchasing a house that floats on water.
Sailing fanatic Kate Fincham currently lives in a 550 sq ft two-story house in the Scarborough Bluffs district with her cats, Charlie and Finn.
Unlike a regular home, the 34-year-old’s property is built on steel pontoons and has a tendency to make her feel sea sick at times.
She previously lived in a shared residence with three housemates before taking to the water in the summer of 2020, but now balances her time between working from home with a stunning view and outdoor activities, including kayaking at sunset and relaxing on the beach.
‘My life is completely different,’ Kate, who works in marketing, told NeedToKnow.Online.
Sailing fanatic Kate Fincham currently lives in a 550 sq ft two-story house in the Scarborough Bluffs district
Kate previously lived in a shared residence with three housemates before taking to the water in the summer of 2020. She now balances her time between working from home with a stunning view and outdoor activities including kayaking at sunset and relaxing on the beach
She said her idyllic home is located in a park, so she has access to hiking and beaches.
Kate said: ‘Every morning or after work I go for a walk by the waterfront or through the park, or go for sunrise or sunset kayaks. I keep my kayak tethered to my back deck, so I just jump in and go.
‘It is so peaceful and calming living here. It feels like a microcosm, but it is only 30 minutes from the downtown core of Toronto.’
She added: ‘The community is also incredible – we always have dock drinks, ladies nights, dinners, rooftop movie nights, and general weekly get-togethers with the floating home and houseboat owners.
‘It is all ages from people in their thirties to their seventies, and we all help each other out and enjoy each other’s company.’
Kate said: ‘It is so peaceful and calming living here. It feels like a microcosm, but is only 30 minutes from the downtown core of Toronto’
Compared to the average price of a home in Toronto, Kate has saved $410,000 CAD ($299,480) by opting for life on the water.
Kate said that housing in the city has become so unaffordable that she didn’t even consider buying a condo or house.
She said: ‘It was a very different lifestyle – I lived right in the bustling heart of the city, within walking distance to work and with all the amenities of a metropolitan city at my fingertips.
‘While I got along with my house mates very well, you never feel like the space is truly yours since the kitchen and living areas we all shared.
‘I now have a lot more freedom in my space.
‘I own the boat and it was significantly cheaper to buy than any other condo or property in the city.’
Kate said she has no regrets as her new home has given her a more peaceful and fulfilling life
Kate said that condos in Toronto average around $750,000 CAD ($547,835).
While the 34-year-old saved money on buying her new home, she admits that she has to fork out a bit more than she’s used to on utilities.
However, Kate said she has no regrets as her new property has given her a more peaceful and fulfilling life.
The stationary home is set across two floors, with a loft bedroom, kitchen, functional toilet, bathtub and even a fireplace.
Kate’s monthly costs are about the same as when she was renting in downtown Toronto.
She enjoys having the whole place to herself instead of sharing a house with other people.
Kate said her monthly costs are about the same as when she was renting in downtown Toronto. She enjoys having the whole place to herself instead of sharing a house with three others
Kate said she has a meter and pays the marina for electricity quarterly – averaging around $105 CAD ($77) per month.
She said she has no gas but she has a water line directly connected to her place that supplies her with city water – which is included in her marina fees.
The house also benefits from parking, mail and access to a septic pump-out.
Kate said her previous big city lifestyle has completely changed for the better since making the move.
However, moving onto the water does have its downsides.
Although Kate doesn’t see herself moving back to the city anytime soon, she admits that her new lifestyle isn’t as easy in the winter months.
Kate said her previous big city lifestyle has completely changed for the better since making the move
Kate said: ‘Winter is harder.
‘I have to make sure that ice doesn’t freeze around the pontoons and crush them, and I have to deal with frozen pipes once or twice a winter.
‘But after two years I am getting much better at dealing with the colder months.
‘Every single day I am so grateful to live in such a beautiful home, in an incredible location, and with such an amazing community.’
