Sausalito Floating Homes: A Buyer's Guide to Buying a Houseboat

Buying a floating home in Sausalito is unlike buying any house on land. The home floats. The land underneath it is leased, not owned. The financing scares off most banks. And the community on the docks operates by its own rhythms, rules, and relationships built over decades.

If you're thinking about buying a floating home on Richardson Bay, this guide walks you through what actually matters — the slip leases, the financing, the construction, the buying process, and how to choose someone to guide you through it. It's written from the inside. Paul Bergeron Real Estate is a father-and-son team that has been on the Sausalito docks since 1984, and between us we've brokered more than 50 houseboats, personally owned more than 20, and built or remodeled more than 15.

What makes a floating home different from a house

A floating home isn't a boat and it isn't a typical house — it's a legal and physical category of its own. It rests on a buoyant concrete or wood hull, connects to city utilities, and sits in a berth (a slip) within a marina. You own the structure. You do not own the water or the berth beneath it; you lease that space from the marina.

That single fact — you own the home but rent its location — shapes everything else: how you finance it, what you pay each month, what you can renovate, and even how easily you can sell. Understanding it early saves buyers from expensive surprises later.

The docks and marinas of Sausalito

There are more than 400 floating homes spread across the marinas of Richardson Bay, including Gate 5, Gate 6½, Issaquah Dock, Liberty Dock, Main Dock, South 40 Dock, Yellow Ferry Harbor, East Pier, West Pier, and Waldo Point Harbor. Each dock has its own character, its own community, and its own economics. Homes on a sought-after dock with deep-water berths and good light can command far more than a similar home a few slips away.

Knowing the difference between docks — which ones hold value, which have berth issues, which marinas are well run — is local knowledge no listing site can give you. It comes from years on the water. See our full dock-by-dock guide

Slip leases and berth fees: the part buyers underestimate

When you buy a floating home, you take over (or negotiate) a berth lease with the marina, and you pay a monthly berth fee for the right to keep your home where it is. These fees vary by marina and berth, and they're a real, ongoing cost on top of your mortgage.

Before you buy, you want clear answers on: the current berth fee and its history of increases, the terms and transferability of the lease, the marina's rules and financial health, and any rent-control protections that apply. A home is only as secure as the berth it sits in, so the lease deserves as much scrutiny as the home itself.

Financing a floating home: the hardest part

Here's where most buyers hit a wall. Floating homes don't fit conventional mortgage programs, because the lender can't take the land as collateral — there is no land. Many big banks simply won't lend on them at all, and buyers who assumed they'd get a standard mortgage can find themselves stuck after they've already fallen in love with a home.

Financing a floating home usually requires specialized lenders who understand the asset, and the terms differ from a typical home loan. This is the single most common reason a houseboat purchase falls apart — and it's avoidable with the right guidance up front. (Paul Bergeron Real Estate also brokers houseboat mortgages directly, NMLS #399152, which is why we tell buyers to sort financing before they shop, not after.)

Inspecting the home: what's under the waterline

A floating home's most important component is the one you can't easily see: the hull. Concrete hulls and older wood hulls age differently, and the condition of the flotation under your home determines both its safety and its value. A beautiful interior on a failing hull is a money pit; a plain home on a sound hull can be a smart buy.

Beyond the hull, floating-home construction has quirks — how the home is anchored and connected, how utilities run, how additions and remodels were done and whether they were done to last on the water. Someone who has actually built and remodeled these homes can spot in an afternoon what an inspector unfamiliar with floating homes might miss entirely.

The buying process, step by step

1. Get your financing lined up first. Because lending is the bottleneck, knowing what you can actually borrow — and from whom — comes before house-hunting.

2. Sign a buyer-broker agreement. As of August 2024, new national real estate rules require buyers to sign a written agreement with their agent before touring homes. This is now standard everywhere, not specific to Sausalito.

3. Tour with someone who knows the docks. A guided tour from a specialist tells you not just about the home, but about the dock, the berth, the marina, and the neighbors.

4. Diligence on the home and the berth. Inspect the hull and structure, and review the berth lease and fees in parallel.

5. Offer, escrow, and close. Floating-home transactions have their own paperwork and timelines; an experienced local broker keeps it on track. For the full step-by-step breakdown, see our complete 9 step Buying Guide

Life on the water: what you're really buying

People don't buy floating homes for the square footage. They buy them for a way of life — waking up on Richardson Bay, a community where neighbors actually know each other, sunsets over the water, and a kind of freedom that land living rarely offers. It's one of the most distinctive residential communities in America, and the people who live there tend to stay for decades.

How to choose a floating-home agent in Sausalito

Most real estate agents are excellent on land and lost on the water. When you're choosing someone to guide a floating-home purchase, look for:

• Lived experience on the docks. Has this person actually lived on the water, or do they just sell here? The difference shows up in every negotiation.

• Construction knowledge. Can they tell a sound hull from a future disaster, and a quality remodel from a cosmetic cover-up?

• A financing answer. Do they have a real plan for the hardest part of the deal, or will they hand you off and hope?

• Community standing. Floating-home sales run on relationships and reputation built over years, not on ad budgets.

Ask any agent how many floating homes they've actually bought, sold, lived in, or built. The honest answer tells you everything.

Frequently asked questions

How many floating homes are there in Sausalito? There are more than 400 floating homes across the marinas of Richardson Bay in Sausalito, including docks such as Gate 5, Gate 6½, Issaquah, Liberty, Main, South 40, and Yellow Ferry.

Do you own the land under a floating home? No. You own the floating home itself, but you lease the berth (the slip) it occupies from the marina and pay a monthly berth fee. Reviewing that lease is a critical part of buying.

Can you get a mortgage on a floating home? Yes, but not through most conventional lenders. Floating homes require specialized financing because there's no land to serve as collateral. Sorting out financing before you shop is the best way to avoid a deal falling through. Paul Bergeron Real Estate brokers houseboat mortgages directly (NMLS #399152).

What should you inspect when buying a houseboat? The hull and flotation first — it's the most important and most overlooked component — followed by the structure, utilities, and the quality of any additions or remodels. Construction expertise matters enormously here.

Who specializes in Sausalito floating homes? Paul Bergeron Real Estate is a father-and-son team specializing in Sausalito floating homes and houseboats, on the docks since 1984, offering buying, selling, property management, and houseboat mortgage brokering.

Thinking about buying a floating home?

If you're considering a floating home in Sausalito, talk to people who actually live this life. Paul Bergeron Real Estate has been on the Sausalito docks since 1984 — a father-and-son team with 60+ years on the water, 50+ houseboats brokered, 20+ floating homes owned, and 15+ built or remodeled. We help you buy, sell, manage, and finance homes on the water.

Paul & Roman Bergeron, Paul Bergeron Real Estate · (415) 332-7539 · (415) 789-5278 (Broker, DRE #01356345) (Agent, DRE #02439924)