A woman who couldn’t afford to climb the real estate ladder in Toronto has revealed how she beat the market by buying a house that floats on water.
Sailing fanatic Kate Fincham currently lives with her cats, Charlie and Finn, in a 50 square meter two-story house in the Scarborough Bluffs neighborhood.
Unlike a normal house, the 34-year-old’s house is built on steel pontoons and sometimes makes her seasick.
She used to live in a shared apartment with three roommates before hitting the water in the summer of 2020, but now she balances her time between working from home with beautiful views and outdoor activities like sunset kayaking 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 50 square meter, two-storey house in the Scarborough Bluffs area
Kate previously lived in a shared apartment with three roommates before hitting the water in the summer of 2020. She now divides her time between working from home with beautiful views and outdoor activities such as sunset kayaking and relaxing on the beach
She said her idyllic home is in a park, so she has access to hiking trails and beaches.
Kate said: “Every morning or after work I go for a walk by the water or through the park or go kayaking at sunrise or sunset. I leave my kayak tied to my back deck, so I just jump in and go.
“It is so peaceful and relaxed here. It feels like a microcosm, but it’s only 30 minutes from downtown Toronto.”
She added: “The community is amazing too – we always have dockside drinks, ladies nights, dinners, rooftop movie nights and general weekly get-togethers with the houseboat and houseboat owners.
“They are all ages, from their 30s to their 70s, and we all help each other and enjoy each other’s company.”
Kate said: ‘It’s so peaceful and relaxing to live here. It feels like a microcosm, but is only 30 minutes from downtown Toronto.
Compared to the average price of a home in Toronto, Kate saved CAD$410,000 ($299,480) by choosing to live on the water.
Kate said living in the city has become so unaffordable that she hasn’t even considered buying an apartment or house.
She said: “It was a completely different lifestyle – living right in the beating heart of the city, within walking distance of my work and with all the amenities of a metropolis within easy reach.
“Although I got along well with my roommates, you never really feel like the space is really yours since we all shared the kitchen and living room.”
“I now have much more freedom in my area.
“I own the boat and it was significantly cheaper to buy than any other flat or property in town.”
Kate said she has no regrets as her new home has given her a calmer and more fulfilling life
Kate said apartments in Toronto average about CAD $750,000 ($547,835).
As the 34-year-old saved money to buy her new home, she admits she has to spend a little more than usual on utilities.
However, Kate said she has no regrets as her new property has given her a more peaceful and fulfilling life.
The stationary house is on two floors, with an attic bedroom, a kitchen, a functional toilet, a bath and even a fireplace.
Kate’s monthly expenses are about the same as when she rented in downtown Toronto.
She likes having the whole house to herself rather than sharing a house with other people.
Kate said her monthly expenses are about the same as when she rented in downtown Toronto. She likes having the whole house to herself rather than sharing a house with three others
Kate said she has electricity meters and pays electricity to the marina on a quarterly basis – an average of about CAD$105 ($77) a month.
She said she has no gas, but does have a main connected directly to her house that supplies her with city water – which is included in her port fee.
The home also benefits from parking, post office and access to a septic tank.
Kate said her previous big city lifestyle has changed completely for the better since she moved.
Going on the water also has disadvantages.
While Kate can’t see herself returning to the city anytime soon, she admits her new lifestyle isn’t so easy during the winter months.
Kate said her previous big city lifestyle has changed completely for the better since she moved
Kate said: “Winter is harder.
“I have to make sure the ice around the pontoons doesn’t freeze and crush them, and I have to deal with frozen pipes once or twice in the winter.
“But after two years I handle the colder months much better.
“Every day I am so grateful to live in such a beautiful home, in an incredible place and with such a wonderful community.”
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James is an author and travel journalist who writes for The Fashion Vibes. With a love for exploring new cultures and discovering unique destinations, James brings his readers on a journey with him through his articles.
