1.    What is a “liveaboard”?

A liveaboard is a boat or barge that has been designed or modified to be used as a home. Some of these boats are not motorized (like a barge) and only move when they are towed to a different slip. Many of the boats at the Wharf do have a motor (typically houseboats, sailboats, and yachts) and can operate under their own power.

2.    How much does it cost to live on a boat?

Ownership costs include:

• Boat purchase: $70K–$350K plus Liveaboard rights: typically $160K (often included in price of boat) = total average: $230K–$510K
• Annual dock fee: ~$15,000 (currently @ $31/foot and billed monthly/quarterly/etc.)
• Slip fee: ~$325/month
• Utilities: Electric, internet/cable (as needed)
• Boat insurance: varies
• Coast Guard registration: $133 first year, $26 annually
• DC registration: $60 first year, $45 annually

There are currently approximately 100 Liveaboard Rights granted at The Wharf, transient residents pay higher per foot prices and do not receive the full amenities/rights granted liveaboards. There are no sales taxes, no property taxes, and no mortgage insurance. Financing may be available through specialty lenders or as personal property loans. Keep in mind, though, that long-term and short-term rentals are prohibited. This ensures that our community remains residential, peaceful, and secure.

3.    Is financing available?

Some boat sellers may offer some flexible terms, so be sure to ask. Generally, we find people use any number of strategies to finance their floating home dream when they do not have the full amount available. Mortgage loans are not available for floating homes, but you can take out a secured or unsecured boat loan. If you already own your own home, you may also consider refinancing the mortgage for cash out or taking a Home Equity Line of Credit (HELOC).

• Secured Boat Loans: The most common type, where the boat itself serves as collateral. This generally results in lower interest rates due to reduced risk for the lender. Terms can extend up to 20 years.
• Unsecured Personal Loans: These do not require the boat as collateral, but often come with higher interest rates and shorter terms (typically up to seven years).
• Home Equity Loans/Lines of Credit (HELOCs): These leverage your home's equity as collateral and may offer lower interest rates, but come with the significant risk of losing your home if you default. 

4.    Where can I apply for a boat loan?

• Banks and Credit Unions: Your existing bank or credit union might offer boat loans, potentially with loyalty discounts.
• Online Lenders: Online lenders offer various options, including secured and unsecured personal loans that can be used for boat purchases.
• Marine Finance Companies: These companies specialize in boat loans and may offer more tailored options.

5.    Why are the liveaboard rights so important?

Most of our vessels come with the liveaboard rights, a cost typically folded into the price of the boat. The Liveaboard Rights grant you the very important privilege to liveaboard your vessel 24/7 days a week, 365 days a year as outlined in your Slipholder License Agreement (or SLA). These liveaboard rights are what make The Wharf Marina so unusual and there are only approximately 90 of these Liveaboard Rights available at the Wharf. Transferring this SLA is only possible with the purchase of a liveaboard-capable boat in the slip. Without it, you are considered a “seasonal” or “transient” slip holder.

Other marinas might turn a blind eye to full-time liveaboards temporarily or only provide services during warm weather months, but at The Wharf boat owners are provided with full amenities and support 24/7 days a week and 365 days a year. Established in 1977, we are the largest and one of the oldest liveaboard marinas in operation on the eastern seaboard and are embraced by The Wharf and the local Advisory Neighborhood Commission.

6.    Can anyone live on a boat?

Pretty much! The docks are wheelchair accessible and some of the barges are designed to be accessible to a wide range of people with disabilities. We have residents from infants to our still (very young) elderly residents!  One of our residents has lived here 36 years and another was born here and has lived all her life on a boat.

7.    Is the Wharf pet friendly?

Yes! We have plenty of dog parks close to the boats, dog walkers who live at the marina, and many liveaboards share their home with their favorite fur babies! We’ve had cats, big dogs, little dogs, lizards, and even a tarantula live on boats here!

8.    Is there parking?

With so many options – metro, bus, Lyft/Uber, bike and scooter rentals, and walking – you don’t need a car, but if you have one, parking is available. The Wharf has long-term parking spots steps from the docks at available at a premium price. You can also get monthly parking at Waterside Towers on 6^th Street behind Arena Stage. Other long-term and short-term parking options are available, so just reach out to the community if you are looking for parking.

9.   Is there anything challenging about living on the water?

Generally, it feels like being on vacation every day. But here’s what can be challenging – in the winter on the boats (not including the barges and houseboats that are well-insulated from the cold), it can be difficult to keep your boat really warm. Plus in the winter and for some boats throughout the year, we are on what’s called “winter water” which means we have to fill our tanks to get running water for showers, dishes, etc. (otherwise the hose connected to our boat might freeze). The larger yachts, houseboats, and barges are usually equipped with bigger tanks so they can go longer without needing to refill. Many of the barges and houseboats often connect to summer water during the warm months (generally March-December) and have all the water they need, without needing to fill any tanks.

10.   How is living on the water everyday so different than living on land?

It really is a different lifestyle. Most of us who live here took one look at what the lifestyle was and immediately decided we were going to buy a boat. There is something about floating every day, watching the ducks go by, and spending as much time as possible on a kayak, SUP, dinghy, friend’s rooftop deck, etc. that is quite simply life-affirming. We don’t get sea sick. When storms come up we literally “batten down the hatches” and generally enjoy riding it out. When the city floods it’s never our issue, because we are on floating docks, so we just float! For most of us, once you’ve experienced life on the water, going back to land is just too ordinary. We always enjoy our visits to land, but we love our time on the water!