In a city notorious for its sky-high rent prices, one London couple has found a unique and inspiring way to save thousands of pounds annually: living on a renovated narrowboat. Nancy Kerina and Dale Rankmore, aged 26 and 32, first met during a ski season in Andorra. When the pandemic abruptly cut their trip short, they decided to take the leap and move in together. Unwilling to be tied down by a mortgage, they began exploring alternative living arrangements and stumbled upon a narrowboat built in the 1970s listed on Facebook Marketplace for £22,000.
They quickly fell in love with the idea and saw it as a way to achieve a more unconventional lifestyle. They invested an additional £10,000 in renovations, transforming the boat into a cozy and comfortable home. The couple now revels in the freedom their tiny boat provides, allowing them to explore London’s picturesque waterways. This unique living arrangement has become so deeply ingrained in their lives that they now find it hard to imagine buying a traditional house.
“We’re so used to the freedom of being able to move if we don’t like somewhere,” says Nancy, who works as a crew member at the Royal Albert Hall. “It’s benefitted our relationship massively.” The couple’s journey began when they returned to the UK together at the start of the pandemic. They initially moved into Nancy’s family home in Leigh-on-Sea, Essex, while figuring out their next steps.
“We both had a similar mindset. We wanted to live in an abnormal way,” Nancy reflects, adding that they knew they “didn’t want to live with mortgages.” As they researched alternative living options, Nancy’s stepdad introduced them to the narrowboat community, sparking an instant obsession. “On the financial side of things – we couldn’t afford to get a house. It was a cheaper way of doing things,” says Dale, who works in stage management and hails from Cardiff.
They finalized the purchase of their chosen boat in September 2020, which was stationed in Bath at the time. They began renovating the boat while simultaneously moving to London. The boat was in need of significant work, as it was both damp and moldy. “We took it apart to the steel…we were living on the boat with nothing but an airbed,” Dale explains. Over the past three years, the pair has diligently saved and worked to complete as much of the renovations as possible themselves. “It wasn’t all perfect, [but] we appreciate it so much now,” Nancy reflects.
Their financial savings are impressive. They pay £100 per month for a cruiser license, which requires them to move their boat every two weeks. Between November and March, they spend £150 per month running their log burner. Investing £1,000 in solar panels has allowed them to save on electricity costs. Meanwhile, many of their friends living in London pay £1,000 per month for a house share, which they describe as the “bane of their life.”
In contrast, Nancy and Dale’s combined bills and license costs come to £1,950 per year, saving them a remarkable £10,050 annually on London rent. “We have stayed in some really nice high-end places for £100 a month. It’s totally different seeing it from the canal,” Nancy says.
The narrowboat isn’t their only investment. In June 2023, they purchased a previously renovated van from Facebook Marketplace for £4,500. They took their new van on their first trip to a festival in Croatia this summer, stopping off in Germany, Austria, Luxembourg, and Slovenia along the way. It was during this trip that Dale proposed to Nancy. “Little did I know his friends were bringing the ring with them,” Nancy recalls.
Looking to the future, the couple plans to build a tiny home and upgrade their van to create more space for a potential family. “Sharing that with our future children will be the best thing,” Nancy concludes.
