Woman who couldn't afford London property builds herself a luxury houseboat worth £182,000
She earns a six-figure salary but couldn't afford London property prices
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Your support makes all the difference.With property prices in London continuing to increase, one woman took matters into her own hands and built her own floating dream home.
Karen Boswell, a 35-year-old advertising executive, designed and built her houseboat, which she named Maybe Tomorrow, in just four months.
And the vessel isn’t a shabby abode either - Boswell’s 70ft-long houseboat includes a king-sized bed, two bedrooms, concrete countertops in the kitchen, high ceilings, and a bathroom with a double shower.
Speaking to The Times, Boswell revealed that before building the houseboat, she struggled to afford property in London - despite earning a six-figure salary.
When a friend suggested a houseboat as an alternative, Boswell realised she could save a significant amount of money if she created her own home.
“I could have afforded a two-bed place in a not-great area or a studio or one-bed somewhere I wouldn't be stabbed walking home, but I wouldn't have had any wiggle room to put a finish on it,” she told The Times of her deposit savings.
So despite her preconception of boats as “weird and cramped,” Boswell decided to give it a try, putting down a deposit of just under £50,000.
The advertising executive took out a marine mortgage, which she’ll pay off in just five years, and purchased her new home, a 12ft-wide empty vessel for £120,000.
Boswell had to take out a £20,000 loan to decorate the interior, which she described as “nautical modern chic,” but it was worth it - as the boat is now worth £30,000 more than she paid for it.
Now, Boswell pays £8,000 a year to keep the houseboat docked in a private marina in the Grand Union Canal in north-west London and a yearly fee of £3,000 for electricity and a three-yearly hull treatment, which she admits are "not cheap," but worth it.
As for transportation, Boswell plans to invest in a kayak so she can get from her boat to the supermarket or pub.
Boswell’s luxury London houseboat will be featured on the new reality show My Floating Home on More 4 tonight, which follows families as they build their aquatic dream homes.
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