Want to live the idyllic London houseboat life? It’ll cost you £1,000,000
Walking along the towpaths of London’s canals, it’s tempting to imagine packing up your flat for an idyllic life on the water. And whether it’s to save money on renting or mortgage fees or simply to unlock a more relaxed lifestyle, houseboats are the hottest new property trend.
But while they were once an affordable option in one of the world’s most expensive cities, they’re not what they used to be. In fact, one freshly renovated barge with a kitchen better than most brick-and-mortar houses has just hit the market for a cool £1,000,000.
Affectionately nicknamed ‘Big Ness,’ the 2,100 square foot barge has four cabins and an open-plan kitchen and reception room, which has ample space to entertain guests. And it’s little surprise, either, considering that this dolled-up houseboat used to belong to a chef.
For reference, the average size of a flat in the UK is 656 square feet – making this over-water option more than three times larger.
The price tag might sound expensive for a houseboat (the typical price most people pay ranges from £250,000 to £400,000), but it’s located in an incredibly sought-after area, moored on the Victoria Steps Quay in Brentford, just a stone’s throw from Kew Bridge (near Kew Gardens).
POrthole windows offer water-level views of the River Thames, so there’s plenty of natural light inside – just as you’d get inside a regular house.
The two floors are connected by a custom-built wooden staircase, an element that you don’t often get with regular houseboats.
In fact, the boat is so spacious that the agents have suggested the potential to transform a section of the barge into a self-contained studio flat which could generate rental income.
The share of the freehold doesn’t just cover you for the water: it includes riverside land, allocated parking, storage, an office space and a garden workshop, all for relatively low mooring fees of £4,050 per year.
Comparatively, data from Zoopla places the UK average at between £2,000 and £18,000 per year – so this certainly isn’t a bad deal.
Elsewhere, the barge was last surveyed in 2021, when it had its hull re-blacked and the exterior epoxy painted.
Why own a houseboat?
So, what are the pros and cons of owning a houseboat? According to the experts at Zoopla, buying a barge as opposed to a regular home allows buyers to dodge stamp duty.
Until March 31, 2025, homeowners are exempt from paying the fee on properties worth up to £250,000, but for the next £675,000, they’ll need to pay 5%.
After that, £575,000 extra comes with fees of 10%, while the remaining amount (for properties worth more than £1.5 million) necessitates 12%.
Setting up shop on a boat also poses an opportunity to live in ‘exclusive postcodes at a fraction of local bricks and mortar prices,’ as well as ‘an outdoorsy lifestyle and the chance to bond with nature.’
However, it’s not all roses – as naturally, you’ll have limited space to store your belongings, so you might want to think about having a clear out before filling up the removal van.
How much does it cost to live on a houseboat?
Thinking of trying out the houseboat lifestyle for yourself? Many might opt to live on the water to save money, but as data from Zoopla shows, that might not always be the case.
On average, a boat survey will cost between £350 and £400 plus any potential repairs – which is an essential step so that you can check the condition of a second-hand boat to mitigate the risk of any nasty shocks once you move in.
You’ll also need to shell out for a boat safety certificate, which typically costs £150, and then a boat licence, which comes in at between £510 and £1,100 per year.
The insurance could cost over £200 per year, and as previously explored, the mooring fees average out between £2,000 and £18,000 – and if you’re at the upper end of that limit, you run the risk of paying more for a houseboat that you would for a regular home on land.
Then, you’ve got to think about hull blacking and painting. Though not a yearly cost, it typically comes in at around £850 and is recommended every three to five years to protect the boat from corrosion. Just taking the boat out of the water can cost up to £350, and the work typically comes in at around £500.
Finally, you’ll need to budget £20 each month so empty the contents of your toilet – either pumped out through pipework or at a designated pump-out station.
You’ll also need to commit to maintaining the boat, which includes everything from engine servicing to blacking the hull – which needs to be done every three to five years.
While houses typically appreciate in value over the years, as Zoopla’s insight shows, houseboats often depreciate – so if you’re looking for a profit here, you might lose out.
You’ll need to consider the disruption that could come with living closer to the elements, too, as rain at night could keep you awake, particularly if the exterior of the boat is made from steel, while the summer typically sees these vessels retain their heat.
After all though, committing to living in a houseboat is often about committing to the lifestyle, right?
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