Condos Afloat

Vancouver, Canada is known to be one of the hottest and fastest growing residential markets in the world right now.  New Vancouver condos and homes are being developed across the city with more high-rises than most other major cities in the world.  Vancouver also offers many luxury waterfront condos and residences from the semi-affordable to the very expensive.  But here is an opportunity that I have yet to have seen…

By now most of us with our ear to the ground in the world of homebuilding and selling have heard of condos being sold aboard cruise ships and other things of this nature.  Well, there is a new opportunity aboard a retired cruise ship docked in Vancouver – 22 renovated condos ranging in price from $189,000 to about $600,000. 

The ship/residence is called The Aurora and will be at its dock five days a week and two or three weekends each month.  Once a month or so the ship will take short sightseeing trips along the Pacific Coast and once each year a longer voyage of about two weeks to destinations such as San Francisco. 

Is anyone seeing the oddities here?  I mean this all sounds interesting but it really sounds more like a floating multi-unit mobile home to me.  What if this sailor were to buy a home here and come stumbling home early one weekend morning only to find that his ship had sailed?!  I never spent much time on ships when I was in the navy, but I wonder if The Aurora will have a curfew.  OK, back to business.  As silly as some of this sounds, it probably will suit the interests of quite a few people.  With about 40 to 50 rooms and amenities such as housekeeping, three meals each day, common area sundecks and lounges, this place just might not be so bad.  As a second home for retirees it might just be perfect. 

Here comes the interesting part…and you boat owners out there were probably wondering about this.  The cost of operating a boat, yacht, or ship can be nothing short of exorbitant. Home owners dues will be anywhere from $12,000 to $32,000 annually depending on the size of your condo unit and its location onboard.  Wow!  

Prospective owners will be required to place 20% into and escrow account but if they change their mind before closing, their money is fully refundable.  A management company will also be available to rent units for owners wishing to earn income on their new seagoing condo!

We may see more of this to come as cruise lines decommission their smaller ships and they become available for purchase.  We’ll see.