Guide to Buying a Float Home at Mosquito Creek Marina
Imagine waking up every morning to shimmering water views, the sound of seals, and the downtown skyline as your backdrop. Life at the Spirit Trail Ocean Homes at Mosquito Creek Marina in North Vancouver is serene, community-driven, and deeply connected to nature—yet only minutes from the shops, restaurants, and energy of Lower Lonsdale. Whether you're downsizing, looking for a stylish pied-à-terre, or investing in a unique property with income potential, buying a float home offers an unmatched lifestyle.
But purchasing a float home isn’t like buying a traditional condo or house. It comes with its own rules, financing challenges, and legal structure. This guide answers the most common questions to help you understand what’s involved.
Disclaimer: The information below is provided for general guidance only and does not constitute professional, financial, or legal advice.
Is buying a float home like buying freehold real estate?
No — buying a float home is a chattel purchase, not a real estate transaction.
Float homes are considered personal property, similar to boats or RVs. You are not buying land, and there is no land title or strata plan. Instead, the structure is transferred via a Bill of Sale, and ownership is not registered with the Land Title Office.
Key Point: You’re buying the structure, not the location. The float home’s berth (where it moors) is licensed separately through a Moorage Agreement with Mosquito Creek Marina.
Can I get a mortgage to finance a float home?
It’s not easy — but it’s not impossible.
Because float homes are chattel and not land-based, traditional mortgages are rarely available. Most buyers finance through:
- Cash savings
- Personal lines of credit
- Private loans or lenders specializing in marine or unconventional financing
That said, this is an evolving area. Some lenders may consider offering a mortgage depending on:
- The size of the down payment
- The buyer’s overall financial profile
- Whether the mortgage can be insured
Pro Tip: Speak with a mortgage broker or financial advisor familiar with float home financing early in the process. Lender policies can change quickly.
How does the moorage agreement work for the float home?
When you buy a float home at Mosquito Creek, you are entering into a contractual agreement with the marina to rent the water space where the home sits. This Moorage Agreement includes:
- Monthly moorage fees based on square footage (including decks and overhangs)
- Term length, renewal rights, and termination conditions
- Occupancy rules, including permitted residents and rental restrictions
- Maintenance, renovation, and insurance obligations
- Additional monthly fees for services and maintenance, typically calculated at $0.15 per square foot, plus taxes
Important:
- Moorage does NOT automatically transfer to the new buyer.
- The buyer must apply for moorage approval.
- The marina charges a Transfer Fee (see next section for full details).
If approval is not granted, the new owner may need to relocate the home.
Do I pay a transfer tax when buying a float home?
Not to the government — but yes, through the marina.
Because float homes are not real estate, you do not pay a provincial property transfer tax, nor is the sale registered through the BC Land Title Office.
However, Mosquito Creek Marina does charge a Transfer Fee as part of the moorage approval process:
- 1% of the sale price up to $200,000
- 2% on any amount over $200,000
- Minimum fee: $10,000
This fee is required for the buyer to secure continued moorage at the marina.
Should I get a home inspection?
Yes — and ideally two inspections.
While not required by law, inspections are strongly recommended to assess both the home and its float system. Consider:
- Home inspection: Evaluates the roof, windows, plumbing, electrical, heating, and structure—just like a house.
- Float survey: A marine surveyor checks the condition, materials, and buoyancy of the float (your “foundation”).
Insurance Note:
Marina rules require $2 million liability insurance. Many insurance providers will request a copy of a recent float survey (within the last 4 years) before issuing coverage.
Are there property taxes for my float home?
Yes. Even though you’re not buying land, float homes at Mosquito Creek are subject to annual property taxes levied by the Squamish Nation, as per the terms of the moorage.
Non-payment may result in termination of moorage, so ensure this is part of your financial planning.
Can I rent out my float home?
Yes, but with strict rules from both the marina and the City of North Vancouver.
Marina Requirements:
- Short-term rentals (less than 90 days):
- Allowed only with written approval from the marina
- Subject to a $5,400/year rental license fee
- Must provide insurance naming the marina
- Long-term rentals (90+ days):
- Must be approved by the marina
- Require fob registration and valid insurance
City Requirements:
If you plan to rent your float home nightly (Airbnb, VRBO, etc.), you must obtain a short-term rental business license from the City of North Vancouver and comply with their bylaws.
Always check both the marina, municipal, and provincial requirements before listing your float home for rent.
Are float homes subject to the Speculation & Vacancy Tax or Foreign Buyer Ban?
No.
Because float homes are not classified as real estate and are not titled through the Land Title Office:
- The BC Speculation and Vacancy Tax does not apply
- The federal Foreign Buyer Ban does not apply
This makes float homes an appealing option for non-resident buyers and investors, though all purchases are still subject to marina approval.
What happens when I sell the float home at Mosquito Creek Marina?
Selling a float home involves two separate steps:
- Transfer of the float home (chattel) via a Bill of Sale
- New moorage agreement approval by the marina
As noted earlier, the buyer must apply for approval and pay the marina’s Transfer Fee. If not approved, the new owner must arrange to relocate the home.
What are my responsibilities under the marina agreement?
The Moorage Agreement outlines your obligations as a float home owner. These include:
- Maintaining the home in good, safe condition
- Carrying $2 million liability insurance (naming the marina)
- Following all marina rules regarding:
- Waste disposal
- Construction and renovations
- Noise, pets, and parking
- Ensuring any floatation replacements use HDPE-encased floats
- Getting prior engineering approval for renovations > $1,000 or involving structure, floatation, electrical, or plumbing
Can the marina kick me out?
Yes, under certain conditions.
Your moorage is governed by a contract, not a land right. The marina may terminate your agreement if:
- Rules are breached
- Fees or property taxes are unpaid
- Your float home falls into disrepair
- The marina requires the space for operational, safety, or redevelopment reasons (with 6 months’ notice)
You may then be required to remove your float home at your own expense.
Recap
Owning a float home at Mosquito Creek Marina offers a rare and remarkable lifestyle—blending tranquility with urban convenience. With water on your doorstep, downtown views, and access to parks, trails, and the Shipyards just steps away, it's easy to see why people fall in love with this way of living.
But it’s not without complexity. Float home ownership requires due diligence, careful financial planning, and a full understanding of marina rules and responsibilities.
Key Takeaways:
- You’re buying a chattel, not land
- Financing options may be limited or evolving
- Moorage is separate and must be approved
- There is no government transfer tax, but a marina fee applies
- Nightly rentals require a license from the City of North Vancouver
- The Speculation Tax and Foreign Buyer Ban do not apply
- Get help from professionals who understand float homes
Mosquito Creek Marina Float Home Listings & Sales
Curious about what’s currently for sale—or what’s recently sold—at Mosquito Creek Marina? We’ve put together a dedicated page with all current float home listings, recent sales data, and market insights so you can stay on top of this unique waterfront community.
Want to be the first to know when a new float home hits the market or one sells? You can also set up free “Just Listed” and “Just Sold” alerts so updates come straight to your inbox.
[View Listings & Sales at Mosquito Creek ➜]
Thinking About Buying or Selling a Float Home?
If the idea of waking up to water views at Mosquito Creek Marina has you dreaming—or if you’re ready to move on to your next chapter—we’d love to help. Our team has extensive experience in float home sales right here at Mosquito Creek, with a deep understanding of the marina’s rules, lifestyle, and market trends.
Whether you’re buying your first float home, upgrading to something bigger, or preparing to sell, we can guide you through every step—making the process smooth, informed, and stress-free.
Get in touch today to learn more about available listings, recent sales, and how we can help you make your waterfront dream a reality.