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Photos: This cute little floating house is one of the cheapest homes in Vancouver

The views include Burrard Inlet and the North Shore Mountains.

If the cost of land seems high in Vancouver, then new homeowners may want to look to the water.

For example, one of the more affordable homes in the city right now is a $425,000 floating home in Coal Harbour. The little blue structure works as a home or potentially, an office for someone comfortable in small spaces, since it only has about 500 square feet of space.

"This could be your one-bedroom apartment or an in-town office with a bedroom on the upper floor," notes real estate agent Bob Scragg in a write-up.

Downstairs is the main room which works as a kitchen and living/work space with wood panelling and hardwood floors. Upstairs is the bedroom and bathroom.

The structure is 32 years old.

While the floating home is under $500,000, the purchase doesn't include any property. Instead, moorage must be paid; that, along with other fees and insurance comes to about $15,000 per year.

"This is likely the lowest cost opportunity to own a home in Vancouver," notes Scragg. "You are in walking distance to downtown offices with entertainment and restaurants a stroll away."

The tiny home is located at the Coal Harbour Marina and is visible from the seawall.