London has a raft of luxury houseboats that are as comfortable as new-build homes, with architect-designed glass spaces, designer kitchens and sustainable, low-energy features.

“Some houseboats in London are so well appointed that you wouldn’t know you were on a boat, they’re like living in a luxury apartment,” said Madelaine Cooper of Unique Property Company, which is currently selling Port, a three-bedroom concrete floating home for £1.395 million (US$1.6 million) in St. Katharine’s Docks Marina, in East London, with a Boffi kitchen and a smart-home system.

Increasingly in London, houseboats, or live-aboard vessels, are being bought as lifestyle purchases. More are being used as second homes, workspaces and even as business premises, rather than permanent homes, according to agents, and owners are turning them into design-led living spaces.

These watery escapes appeal to downsizers who want a weekend city pad and commuters who want a Monday to Thursday bolthole, said Ian Tichener of waterside property and houseboat specialist RiverHomes. Houseboats are liveable boats with engines, such as converted Dutch barges, or floating homes (a home without an engine), which can be towed to a different location.

“We’ve seen a massive uptick in inquires from people in the past four weeks looking for a houseboat as pieds-a-terre,” said John McDavid of Aucoot. “Many are people who have relocated from London during the pandemic who now need to return to their office a few times a week,” he added.

And more buyers are investing more cash into houseboat purchases as they are being seen as good investments, according to agents. “In the past, people thought you would never get your money back on a houseboat, but they are increasing in value, depending on where the mooring is,” Ms. Cooper said.

More: Luxury London Houseboat Asks £2.5 Million

There’s much to love about houseboat living in London. Living aboard a boat in the city offers a relaxing lifestyle immersed in nature, with big sky views and unusual vantage points of its futuristic and historic cityscapes.

London also has a number of vibrant, moored floating communities that offers a sense of belonging among its houseboat owners. They include Hermitage Wharf in Wapping which only includes historic vessels, such as river barges.

The key attractions of a houseboat, though, are the location they offer and the affordable price per square foot. 

The Modern House is selling Bosco, a converted contemporary barge in Battersea on sale for £1.5 million, renovated by its architect owners. “If compared to a similar-sized house or apartment on ‘dry’ land, in a comparatively desirable location, the value for money is exceptional, and the quietude is hard to match anywhere in the city,” said, James Klonaris, head of prime appraisals of The Modern House.

Some people successfully rent out their London houseboats via short stay sites such as Airbnb as they are interesting, quirky and usually in a good spot, Mr. McDavid said.

More: Living on the Thames: Two Luxurious Houseboats in London Up for ‘Sail’

London houseboats at the upper end of the market are priced between £1 million and £3 million, Ms. Cooper said. 

Some of my clients have been puzzled about how a houseboat can cost so much but it is the boat plus the mooring that gives it its value, said Ian Tichener, who has been selling houseboats for RiverHomes for the past eight years. “Currently, if it’s the right boat at the right price, it will sell quickly,” he said.

Much of a houseboat’s value is derived from its mooring, location, length and prestige, however, its design is an important factor in its desirability, Mr. Klonaris added. The aforementioned Bosco, on sale for £1.5 million, has a a striking glass and steel on-deck garden room and a cinema room. 

“Bosco occupies a wonderful position in Battersea, but a great deal of its value lies in how beautifully curated it is as a home,” he said.

People are doing up houseboats with a focus on design, explained Mr. McDavid. “Narrowboat living once had dreary “caravan with net curtains” connotations. These days, people are employing architects and designers and installing marble worktops, high-end appliances, solar electricity panels and incinerating loos for off-grid living as well as underfloor heating and smart thermostats.”

“Houseboats are big-ticket purchases, so they have to be top end,” Ms. Cooper said. “They have to have well thought out designs where you don’t feel like you’re losing out in any sense. Houseboat living was previously not regarded as a luxury and was sometimes thought of as housing of last resort. That has changed massively in recent years,” she said.

London has a number of fully serviced marinas with long-term residential pontoon moorings. They offer mains electricity, boat pump-out and sanitation service, a post and delivery service, broadband, Waitrose food delivery, security gates and cameras, off-street parking, and even leisure facilities such as a gym and pool.

More: Floating on the River Thames, This London Houseboat Offers Lavish Nautical Living

What you need to know 

Most houseboats are bought as cash purchases, or with a combination of cash and a personal loan. It’s possible to get a mortgage on a houseboat through a specialist marine finance company.  If the houseboat you are buying comes with a title registered with the Land Registry, it might be possible to get a loan through a traditional mortgage lender. The good news is that houseboats are exempt from stamp duty tax in the U.K.

Mooring rental fees are the biggest fixed cost for houseboat owners. Annually renewable moorings and leasehold and freehold moorings offer greater security of tenure. The alternative is a cruising license where you must move your boat every two weeks.

Buyers would need to secure the boat with a 10% deposit to secure the sale. It is advisable to get a pre-purchase survey on the boat (either an out-of-water boat survey or an on-the-water one, if the latter has been done recently) to make sure it is in a safe condition, Mr. Tichener said. It is also wise to get a lawyer to check through the boat ownership details and the Bill of Sale, which is essentially the receipt for the purchase. 

And when it comes to residential moorings, do your research as there are some companies who don’t invest the money back into the facilities, Ms. Cooper advised. 

COPYRIGHT © 2022 MANSION GLOBAL. ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com

DISCLAIMER: The currency conversion is provided for illustration purposes only. It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. We are not responsible for any loss that you may incur as a result of relying on these currency conversions. All property prices are as stated by the listing agent.