A woman couldn’t afford to buy a house, but fear naut — she made do with a floating home.
Kate Fincham beat the housing market by purchasing a 550-square-foot, two-story home that’s built on steel pontoons and can float on water.
“My life is completely different,” Fincham, 34, told NeedToKnow.Online.
“The housing in Toronto has become so unaffordable that I truly had no thoughts or ambitions of purchasing a condo or house,” the Canadian shared. “It was a very different lifestyle – I lived right in the bustling heart of the city, within walking distance to work and with all the amenities of a metropolitan city at my fingertips.”
The sailing fanatic lives in the water-bound home on Canada’s Scarborough Bluffs with her crew: two cats, Charlie and Finn.
Prior to living in a floating house, Fincham resided with three roommates. She relocated to the open seas in the summer of 2020.
“While I got along with my housemates very well, you never feel like the space is truly yours since the kitchen and living areas we all shared,” she said. “I now have a lot more freedom in my space. I own the boat and it was significantly cheaper to buy than any other condo or property in the city.”
Fincham’s decision to live on the water rather than in a landed Toronto home — which on average would go for about $551,508 in US dollars — saved her more than $300,000.
While living on a floating home is cheaper, Fincham does have to shell out more money than she’s used to on utilities — meaning she spends about the same every month as she did while renting in downtown Toronto.
“But the upside is I have the whole place to myself instead of sharing a house with three others. I … pay the marina for electricity quarterly — it averages around [$77 US] per month,” she said. “I have no gas but I have a water line directly connected to my place that supplies me with city water — this is included in my marina fees. This also covers parking, mail and access to septic pump out.”
The floating lifestyle gets harder during the winter, Fincham admits.
“I have to make sure that ice doesn’t freeze around the pontoons and crush them, and I have to deal with frozen pipes once or twice a winter. But after two years I am getting much better at dealing with the colder months,” she said.
The toilet situation isn’t so glamorous, either.
“You have to pump out your septic tank from the toilet – which really isn’t that bad,” she said.
Despite the downsides, Fincham feels she has a more peaceful and fulfilling life on the water — and doesn’t see herself moving back to the city in the near future.
“Where I live now is in a park, so not only am I surrounded by water, I also have access to hiking and beaches,” she shared.
She splits her time between working in marketing from her home with an amazing view and soaking up the sun doing outdoor activities, including kayaking at sunset and relaxing on the beach.
“Every morning or after work, I go for a walk by the waterfront or through the park or go for sunrise or sunset kayaks. I keep my kayak tethered to my back deck, so I just jump in and go,” Fincham said. “It is so peaceful and calming living here … but is only 30 minutes from the downtown core of Toronto.”
Fincham isn’t the only one living life on the water — there’s a whole society of people with floating homes.
“The community is also incredible – we always have dock drinks, ladies nights, dinners, rooftop movie nights and general weekly get-togethers with the floating home and houseboat owners,” she said. “It is all ages, from people in their 30s to their 70s, and we all help each other out and enjoy each other’s company.
“Every single day I am so grateful to live in such a beautiful home, in an incredible location and with such an amazing community,” Fincham added.