Live Sleepless In Seattle Style On A Lake Union Floating Home

Beautifully Updated Seattle floating home for sale…

seattle floating homes for sale

2031 Fairview Ave E, Houseboat “P”

$775,000

Stunning Eastlake Seattle floating home for sale and new on the market—2 bedrooms, 2 baths, bamboo floors, new windows, new exterior paint, roof top deck, window seat, room for your small craft or water toys, LARGE 10 x 4 ft kitchen island for entertaining & a cook’s dream!

  • 2 Bedrooms
  • 1.75 Baths
  • 1100 Square Feet
  • Built in 1985
  • Owned Moorage
  • $385/month dues
  • LOW yearly taxes at $2005/year
  • roof top deck
  • updated finishes throughout

Beautiful surfaces and finishes everywhere you look! Hip glass“garage door” let’s in the light & the fresh air and is just one of the reasons you will fall in love with this home!  Here are some more pictures or you can see the full listing here:  2031 Fairview Ave E #P

For Your own private showing or for more information on this Seattle floating home or other Seattle houseboats, please get in touch with Seattle floating homes Realtors Courtney Cooper (courtney@cooperjacobs.com) or Molly Cartwright (molly@cooperjacobs.com or 206-841-6800) of Cooper Jacobs Real Estate. If you are interested in other Seattle floating homes for sale, we would love to show you what is available besides this beautiful property.

Rent or Buy? How To Decide

Is it better to buy or rent? Whether renting is better for you than buying depends on many factors. The information and variables listed here will help answer this question. Included are statistics and studies on home owners and renters as well as financing options and tips. (M. Glick, Senior Information Specialist, National Association of REALTORS)

Buy vs. Rent Comparison

The chart below shows a cost comparison for a renter and a homeowner over a seven year period.

The renter starts out paying $800 per month with annual increases of 5% The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000

After 6 years, the homeowner’s payment is lower than the renter’s monthly payment

With the tax savings of homeownership, the homeowner’s payment is less than the rental payment after 3 years.

Comparison of renting vs. homeownership over seven year period

Rent vs. Buy

4 ways to pay off your mortgage early

If you can manage it, paying down your home loan ahead of schedule can save you a LOT of money. Here’s how-

Because Americans are coming from a season of incredible risk and disaster on many levels, fewer homeowners are refinancing to take money out of their homes. Having lived through the foreclosure crisis, more people want the financial security and the psychological benefit of owning their home free and clear.

If you want to pay off your mortgage early, plenty of experts recommend ways to do it. They all work, but you’ll find some methods of paying down your mortgage are safer, faster and more painless than others. Here I compare four ways you can pay off your mortgage early, starting with the simplest and moving toward the most complex.

Just pay more

If you want to see magic, start playing with mortgage calculators and see how adding a little payment to your principal here and there can shorten the length of your loan. You can use Bankrate.com’s mortgage loan payoff calculator to see how $100 or any other amount added to your payment reduces your interest and shortens the length of your loan.

If you pay a little more principal, you get a bonus. The lower your principal gets, the more every payment from then on is applied to principal, as less goes to cover interest expense.

If nothing else, round your payments up. When people have a payment for $644, they think of it as $650. Why not just pay $650 then? An extra $6 a month on a $200,000, 30-year loan can save you four payments at the end of the mortgage loan.

When you pay extra, make sure the extra is applied to the principal balance, not just set aside for the next payment. And before you make extra payments, read your contract and make sure you won’t have to pay prepayment penalties.

Refinance to a shorter-term loan

You can refinance into a mortgage for 10, 15 or 20 years, but 15-year mortgages are the most common. Your payments will be higher on a 15-year loan, though maybe not as high as you think, especially since they often offer lower interest rates.

One advantage of a 15-year loan is that you’re committed to the higher payment. There’s no messing around about whether you’ll pay extra this month. So if you have an unsteady income or a high likelihood of other expenses rising, consider this: to get the effect of a shorter-term mortgage without the risk, take out a 30-year loan, but make payments as if you had a 10- or 15-year loan.  You just make increased payments. You’re in control, not the bank.

With a 30-year, $100,000 loan at 5 percent, your principal and interest payments are $537. At the same rate, but on a 15-year payoff schedule, your principal and interest payments are $791. That’s $254 more a month.

Bankrate.com’s 15- or 30-year mortgage calculator can help you compare loans.

Switch to biweekly payments

Biweekly payments take advantage of the fact that there are 52 weeks in the year and 12 months. If you pay half your regular mortgage payment every other week, you’ll have made 26 half-payments, or the equivalent of 13 full monthly payments, at year’s end. See how it works with Bankrate’s biweekly mortgage calculator. The extra annual payment can chop off about six years from a 30-year mortgage.

You shouldn’t have to pay an outside company to set it up for you. I hate the idea of having to pay a third party for something the consumer can do on their own.  Check on whether your bank will set up a biweekly payment plan. Some banks do it for free; others charge.  Ask the bank to credit extra payments toward principal so you save more on interest expense. Some banks set aside extra payments until the end of the year.

Use a money merge account (the Australian method)

In Australia, mortgages are generally set up like home equity lines of credit, or HELOCs. They double as checking accounts, thus the term “money merge.” When you get paid, you deposit your check into the account, and as you spend money you take it back out again. You hope to put more money in every month than you take out.

With a mortgage using the Australian method, interest is calculated daily instead of monthly, and because the money spends as much time as possible in the account before you take it back out to pay bills, you save on interest expense.

Some money merge programs require you to buy software for thousands of dollars. However, there’s no magic formula for shifting your money around.  You don’t need software to do that. The biggest downside to the money merge plan is that it requires discipline; you shouldn’t do it unless you understand cash management.