Toronto's Housing Prices Are So Hot, Even The Cost of House Boats Has Doubled

TORONTO'S HOUSING PRICES ARE SO HOT, EVEN THE COST OF HOUSE BOATS HAS DOUBLED

Soaring housing prices in Toronto have forced some home buyers to look for more affordable alternatives to the conventional detached home, but prices for one type of dwelling may be on the same boat.

House boat prices in the Greater Toronto Area have doubled in the last six years, putting the average cost of a floating home in the range of the average condo. 

According to the Toronto Real Estate Board, the average home price in the city, regardless of property type, rose 17.7% to $710,410 in August compared to the same month last year. Detached homes in the city of Toronto proper cost on average $1.2 million, up 18.3%.

In an interview with BNN, floathome expert Denise Doucet said the rise of Toronto's housing prices has driven more people to consider buying a house boat instead.

"The price point of a floating home lends itself for a first-time home buyer or someone who's rightsizing or downsizing," Doucet said. "It's very attractive in many because it offers wonderful interaction with nature. And most importantly, water."

So what exactly do you get with a house boat in Toronto? Here's an inside look into a floating home (one of 24 in the community, and one of only 25 in Ontario):

Price: $1,075,000

What you get: 

• 3 bedroom, 2 bathroom - 1300 SF of interior space, 1000 SF of outdoor deck
• 9' ceilings with heated floors
• Upgraded appliances
• $700/month mooring fees
• Two parking spots
• Access to marina facilities
• Can dock up to 20' boat along front deck

For more information, email Matt Smith, MBA