The exterior has a heat vent, a small hole, and is covered with seaweed. The interior has fancy chairs, a stairway that leads back to the original spot like a boomerang, and some furniture.
The house first appears when Squidward and SpongeBob are looking for a house that SpongeBob would live in. The house is so fancy-like that Squidward even wants to live there. Squidward gets the house of his dreams and tells SpongeBob he can have his old house. Squidward later goes to bed, and sets his alarm clock. The next morning, the alarm clock isn't an alarm clock; it is actually a countdown clock for the launch of the rocket. It isn't a house, it is a rocket. The rocket launches into space but stopped in space and crashed down between Squidward's house and SpongeBob's house.