#QuickTipTuesday – Houseboats and Sales Tax

FINALLY!  Warm and Sunny Days in Seattle.

Watch the video here.

All this sunshine… How could you NOT think about houseboats??

In the last year, we have sold 13 houseboats.  It is an appealing and unusual lifestyle.  And with an average sold price of just $327,000, houseboats get attention from folks looking to escape the high prices of Seattle living.

When thinking about buying a houseboat, there are LOTS of things to consider.  From a financial perspective, the two most overlooked expenses are:

  1.  Sales Tax – When buying a houseboat, the buyer has to pay 10.1% of the purchase price in sales tax.   If you bought a houseboat for the average price of $327,000, that means that in addition to your down-payment you would also need to pay $33,207 in sales tax!  That essentially makes your purchase price $360,027
  2. Moorage fees – You have to have somewhere to park that sweet little houseboat of yours!   Each month you will need to pay a fee (ranging from $350 per month to upwards of $1,000 per month) in order to have a place to moor your home.  Living on a houseboat has similiar added monthly expenses as condos (with the HOA dues) do.

Houseboat life is AMAZING!  I’ve been doing it for a decade now and can’t imagine moving back to land.  Just keep in mind the houseboat-specific costs that are associated with this great lifestyle.

 

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