Every year, buyers come to Sausalito who have fallen in love with the idea of living on the water. Some of them have done years of research. Some of them walked the docks once and knew immediately. What they share is that the process of actually buying a floating home — figuring out financing, understanding hull inspections, decoding slip leases, choosing the right dock — is unlike anything they've encountered in conventional real estate. This guide is for them.
Paul Bergeron has guided more first-time floating home buyers through this process than anyone else in Sausalito. Here's what he tells every one of them.
Step 1: Understand What You're Actually Buying
When you buy a floating home in Sausalito, you are typically buying two separate things: the structure itself (the floating home, which sits on a float or hull) and a slip lease (the right to moor that structure in a specific berth at a specific marina or dock). You do not own the water, and in most cases you do not own the land under the water.
The slip lease is arguably as important as the structure. It determines your monthly costs (slip fees typically run $800–$1,500/month in Sausalito's dock communities), your rights as a resident, and what happens if you want to sell. Some leases are easily assignable to a buyer; others require marina approval or have conditions attached. A floating home with a favorable, long-term slip lease at a stable marina is worth significantly more than the same home with a short-term or problematic lease.
Your agent needs to understand and read slip leases. Not all of them do. This is one of the clearest ways a floating home specialist separates from a generalist.
Step 2: Get Your Financing Lined Up First
This is where most first-time floating home buyers hit their first wall: conventional mortgage lenders won't touch floating homes. Fannie Mae and Freddie Mac don't purchase loans secured by floating homes. This means the familiar pre-approval process that works for a condo or house doesn't apply here.
What does work:
- Marine lenders. Lenders who specialize in liveaboard and marine property financing. They understand hull surveys, slip leases, and the specific documentation floating home purchases require. Rates and terms differ from conventional mortgages — expect higher down payment requirements (typically 20–25%) and potentially higher interest rates.
- Portfolio lenders. Community banks and credit unions that hold loans on their own books rather than selling them to the secondary market. Some of these institutions have developed specific programs for floating home buyers in the Bay Area.
- Cash. A significant proportion of floating home purchases in the premium tier are all-cash or near-cash. If that's you, the financing complexity disappears — but the due diligence on hull and lease becomes even more important.
For a deeper look at liveaboard financing options, see our Floating Home Financing Guide and FloatingHomeLoans.com.
Step 3: Choose Your Dock Before You Fall in Love With a Home
One of the most common mistakes first-time buyers make is fixating on a specific home before they've decided which community they actually want to live in. The dock matters — probably more than any individual home feature. Different docks have radically different community cultures, monthly costs, physical environments, and social dynamics.
Our Sausalito Docks Guide covers all twelve main floating home communities in detail. But briefly:
- Gate 5 and Waldo Point — historic, eclectic, strong community identity, more price variation, more complex due diligence.
- Gate 6 and Gate 6½ — more polished, architecturally sophisticated, higher prices, well-established HOA structures.
- Liberty Dock — intimate, family-friendly, one of the most desirable addresses in all of Sausalito's floating home world.
- Issaquah and Yellow Ferry — closer to downtown, good access to Sausalito's restaurants and ferry, mid-range pricing.
- Kappas, Commodore, Mission Creek, A Dock, Main Dock, South Forty — each with its own character, pricing tier, and community profile.
Paul's recommendation: walk at least three different docks before you start looking at specific homes. You'll feel the difference. One of them will feel right in a way that's hard to articulate — and that instinct is usually worth following.
Step 4: The Hull Inspection Is Not Optional
In conventional real estate, some buyers waive the home inspection in competitive markets. Never waive the hull inspection on a floating home. The hull is what keeps the structure afloat, and hull problems are expensive, sometimes catastrophic, and cannot be assessed from above the waterline.
A marine survey — performed by a certified marine surveyor — typically costs $500–$1,500 depending on the size and complexity of the home. It examines:
- Hull integrity. Concrete, steel, and fiberglass hulls each have different failure modes and inspection considerations. Concrete hulls can develop cracks; steel hulls can corrode; fiberglass can delaminate. Each requires specific expertise to assess.
- Through-hull fittings and bilge systems. The points where plumbing passes through the hull are common failure points. The bilge pump system is what keeps water from accumulating — its condition matters.
- Electrical systems. Marine electrical is different from residential electrical, and improper wiring in a floating home is both a safety hazard and a financing obstacle.
- Last haul-out date. Floating homes need to be periodically lifted out of the water and their hulls inspected and treated. The history and schedule of this maintenance is critical information.
Your agent should be able to recommend marine surveyors with specific experience in Sausalito floating homes. Paul Bergeron has been working with the same trusted inspectors for decades.
Step 5: Know What You're Getting Into Culturally
Floating home communities are not just real estate — they are communities in a more immediate and tangible sense than most neighborhoods. Your neighbors are close. The dock itself is a shared space. HOA meetings matter and are attended. Community decisions — everything from dock repairs to pet policies to subletting rules — are made collectively and affect daily life.
This is a feature, not a bug. But it's an adjustment for buyers coming from more anonymous land-based living. The most successful floating home buyers are people who genuinely want to be part of a community — who see the dock as a social environment, not just a place to park their home.
Roman's take: "I grew up on these docks. The thing that surprises most first-time buyers isn't the water — it's how real the community is. You will know your neighbors. You will run into them on the gangway every day. If that sounds amazing to you, you're probably going to love it here. If it sounds like a lot, that's worth thinking about before you buy."
Your Pre-Purchase Checklist
Before You Make an Offer
Pre-approval from a marine or portfolio lender — not a conventional bank pre-approval, which won't apply. Know your budget before you start looking seriously.
Walk at least three docks — ideally at different times of day. Notice the light, the motion, the community feel. Don't buy a dock community you've only seen once.
Read the slip lease — terms, monthly rate, renewal conditions, assignability, marina rules. Your agent should walk you through this before you go under contract.
Review HOA documents — meeting minutes, financials, rules and regulations, any pending assessments or disputes.
Commission a marine survey — certified marine surveyor, full inspection including hull. This is non-negotiable.
Verify utility setup — how water, power, and sewage are handled. Municipal sewer connection vs. holding tank affects both financing and ongoing costs.
Check last haul-out date and schedule — when the hull was last lifted and inspected, and when it's next due. This is a real cost and a real logistical event.
Get floating home insurance quotes — before you're in contract, not after. Some homes are difficult or expensive to insure; know this upfront.
Calculate true monthly cost — purchase price is just one number. Add slip fees, HOA dues, insurance, utilities, and maintenance reserves to understand what you're actually committing to monthly.
The One Thing That Makes All of This Easier
Every complexity on this list — financing, hull inspection, slip lease review, community due diligence — becomes dramatically more manageable when you have an agent who has done it dozens of times, who has personal experience as a floating home buyer and owner, and who has the relationships with the surveyors, lenders, and marina managers who will all be part of your transaction.
That's what Paul and Roman Bergeron offer. Paul has been buying, owning, and selling floating homes in Sausalito since 1985. Roman grew up in this community. Together they've guided more first-time floating home buyers through this process than any other team in the market.
If you're at the beginning of your floating home journey — even if you're still in the "is this even possible for me?" stage — reach out. The first conversation is free, and it will save you a lot of time going down the wrong paths. Find them at paulbergeronrealestate.com.