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Old 25-09-2015, 21:13   #1
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Starting from scratch

I am currently living and working in the Marshall Islands. I will be leaving here in about three years and plan to buy a boat. I am really struggling with coming up with a budget for this though. In my case I know I can comfortably spend $300K and still have plenty left over for emergencies and living off of. My issue is that this $300K will not just be the boat and the refit required to set it up but will ultimately be needed to buy everything including Pots and pans for the galley. I know there are tons of variables at play here but hopefully someone can give me some sound advice on what price range boat I should be looking at knowing that the $300K will be used for the entire set up.
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Old 26-09-2015, 20:05   #2
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Re: Starting from scratch

Buy an ex-charter boat from Moorings and it will come with pots, pans, plates, towels, etc

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Old 26-09-2015, 20:52   #3
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Re: Starting from scratch

Usually the question is: "I want a 38 to 44 foot boat, how much money do I need?"

You told us how much $$ you have.

Now: what size and kind of boat would help us to help you a lot more.
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Old 26-09-2015, 21:00   #4
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Re: Starting from scratch

Quote:
Originally Posted by AlmostParadise View Post
I am currently living and working in the Marshall Islands. I will be leaving here in about three years and plan to buy a boat. I am really struggling with coming up with a budget for this though. In my case I know I can comfortably spend $300K and still have plenty left over for emergencies and living off of. My issue is that this $300K will not just be the boat and the refit required to set it up but will ultimately be needed to buy everything including Pots and pans for the galley. I know there are tons of variables at play here but hopefully someone can give me some sound advice on what price range boat I should be looking at knowing that the $300K will be used for the entire set up.
Howdy! Welcome Aboard CF!

You are in an enviable position, with a budget of $300K for the boat and no preferences or other limitations. That gives you a LOT of flexibility and choices.

I know that you asked a very general question, and many here will be reluctant to offer advice, as it is like going out on a limb, and easy to criticize when someone has made the first move or suggestions.

Also, I am basing my comments below on what I would do, but that is not the same as saying "I have done this." In other words, this is not based on my personal experience buying this kind of boat or using that budget. So, take my comments with a splash of saltwater! But, this IS what I would do if I were in your boat shoes.

I want to make sure you get something for your post:

1. You should state something about your experience sailing, your preferences for types of boats, your goals, where you want to sail, and how you want to live on the boat. You should tell us how many people you need to have on the boat too. All of those things make a difference.

2. You should decide on how far you will go to buy the boat. Where will you buy or look? Australia? Malaysia? Hawaii? California?

3. Given your budget, it is conceivable you could get a used Catamaran or a Mono. State your preference.

4. You should indicate whether you intend to live aboard in a marina, do limited coastal cruising, or you have plans to cross oceans of do a Circumnavigation. Those things make a difference in budgeting. And, where will you be with your boat? USA, Australia, PNW, South Pacific, Med?

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Back to the budget issue:

If you gave me $300K to spend on ANY boat, and out of that budget I would need to make it ready to the first year of a South Pacific Cruise, or part of a "circumnavigation" (that is the ultimate test and length, usually taking 3-5 years) with a short handed crew (skipper + mate, usually a man + woman) and you want to do so in comfort, this is what I would budget:

1. $150K to purchase a used (good condition) Lagoon 380

While I love monos, and will probably get one in the near future, I also like cats and see the appeal of them. For me and a mate, I think the 38-40 foot size is just big enough and not too big for my comfort. I would get an "owners version" of the cat. A series of videos showing a young couple going from USA East Coast to Australia made a strong impression on me as to the size/type of cat and the comfort level. Here is a playlist I put together of their video series, look for video #12, where the owner gives the boat tour (he sold the boat at the end of the voyage). I am suggesting this series, because much of it is in the South Pacific islands. https://www.youtube.com/playlist?lis...5oY3_tUtVFKMXk

2. $50K to upgrade any systems I wanted to have or upgrade (e.g. water maker), or to buy new sails or toys such as kayaks, pots, pans, linens, cockpit cushions, etc.

3. $50K for first year's cruise expenses (about $4K per month). This is to cover the cruising costs such as check in fees, fuel, repairs, bottom job, consumables (food, filters, etc).

That uses up $250K right there.

I would save the remaining $50K for special things such as health insurance or flights home, special things to do when in the visited countries, etc. Or don't spend it. Or have a lot of fun with it (paying for guided tours, submarine rides, parachuting, toy rental, parties with friends, etc.).
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In short, I think that I would spend up to $150K and get a very comfortable boat for a couple. However, I could also find a comfortable monohull for as little as $75K, or even less.

But, if the money is available and you want to spend it, spend what you want to get what you want.
_____________

I hope this helps you, I am sure others will have different opinions and some will have much more experience with buying or spending that kind of boat budget.
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Old 26-09-2015, 21:55   #5
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Re: Starting from scratch

I would second everything Steady said.

In addition where you are sailing, and what your intentions are has a huge amount to do with what I would recommend. Your budget is large enough to move to a pretty big boat, possibly more boat than you need. For carribean cruising a big cat would be first on my list, for ocean crossings I would snatch up DEERFOOT Steve Dashwe's fathers boat for sale right now in California. She is a 68' monohull, and may be too much for a new sailor, but there probably isn't a better maintained example of a Dashew boat afloat.

Different horses for different courses.
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Old 26-09-2015, 23:34   #6
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Re: Starting from scratch

I will be retiring when I leave the island. I intend to use the boat as a live aboard and my cruising area will be where the wind and weather take me. Most likely the carribean as I am already spending a few year tooloing around the south pacific. The 300k is for the boat and equipment only. I do not need to save any of this for the kitty. I am not asking for any assistance on picking out my boat because I feel that is a personal decision that only I can make. I guess I should have worded the question differently. If you were to have to buy everything on your boat (tools, linens, cooking gear) already have the dive best what is a rough ball park of what to expect. I started coming up with a list of what I would think I would need to keep on the boat and figured it would be around 15-20k for setting up the boat not to include upgrades and repairs which I am guesstimating to be another 40-50k. Based upon these numbers I am thinking a price range around 200k is where I should be. I may not go near that high but like to know an upper limit to be safe. Based upon your experiences is long term cruising are these numbers realistic.
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Old 27-09-2015, 04:45   #7
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Re: Starting from scratch

Your most expensive must have in my book is the Honda generator
Next
A good drill and angle grinder
drill bits, sand paper, glue, epoxy, fiber glass, are all necessary.

Two cheap lap tops and two android phones

I highly endorse using a kayak and get extra paddles
Dishes and pots and pans keep minimal as they take up space

Forget water maker if possible.

Plan to spend some money on the canvas work.

If you recall Windswept, well I am in it now.

I am ready to down size if you are interested.
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Old 28-09-2015, 20:27   #8
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Re: Starting from scratch

I should be banned from ever typing on my phone. I just read my last post and the grammar and spelling is horrible. Hopefully I got the message across. I think I have a pretty good idea of how much of my budget should be dedicated towards repairs and equipment upgrades. I just really am not sure how much of my budget should be dedicated to the other stuff to make the boat livable and how much to budget for tools that are needed or just nice to have around.
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Old 28-09-2015, 23:01   #9
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Re: Starting from scratch

if the question is about how much of the purchase price to reserve for upgrades. It really depends. A new boat will come empty, so you will need to spend a lot to equip it with everything from anchors to dishes, a newer used boat typically will have all of these odds and ends already.

But you really have to take each boat as an individual deal, a 5 year old boat with modern electronics, and working engine and diesels probably doesn't need much except for a good wash and maybe new bed linens. A ten year old boat may have some lingering deferred maintenance and be due for some engine work, and likely be due new sails and a standing rigging work.

In your budget and cruising grounds I would pick a 40ish foot catamaran as new as the budget allows. With a shopping list in my pocket of the gear I would want. If the boat has those items I would add it to the price I was willing to pay, if not I would assume I would need to add them.
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Old 29-09-2015, 13:24   #10
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Re: Starting from scratch

That makes complete sense to me.
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Old 29-09-2015, 13:50   #11
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Re: Starting from scratch

For galley plates and cooking, check out GalleyWare.com. A set of 4 plates about $100. Stackable pots and pans about $150.

I'm guessing we have less than $1,000 in all the galley and berth stuff: pots, pans, knives, towels, bed sheets, pillows, etc. That include 3" memory foam on our beds on our Beneteau 393.

I'm guessing another $500 in basic tools, wrenches, rechargeable drill, 110v sander. Nothing fancy, most from Lowes or Sears Craftsman.

We paid about $1,000 for a Sailrite sewing machine.

I'd guess total cost of all sewing, galley, bed and bath "stuff" is less than $3,000.

Very minimal compared to sailboat electronics, rigging, anchors, genset, sails canvas, etc.
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Old 29-09-2015, 14:13   #12
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Re: Starting from scratch

I think you'll find some beautiful boats well within your budget that come nearly fully equipped ready to go in the Caribbean. What a great thing to plan and look forward to!
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Old 29-09-2015, 14:33   #13
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Re: Starting from scratch

Mark,
Thank you that was exactly the kind of information I was looking to get. First hand experience. I am trying to avoid overspending on the boat and then needing to dip into other accounts to pay to put sheets on the beds. Sounds like from your experience the cost of equipping the boat with bed, bath and beyond is fairly minimal.
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Old 29-09-2015, 14:54   #14
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Re: Starting from scratch

.what kind of work are you doing in the Marshall Islands? How do you like it there? Not a lot of cruisers seem to go there.
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Old 29-09-2015, 14:57   #15
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Re: Starting from scratch

Assuming you buy a boat with nothing, outfitting the household probably costs about what it would to outfit a college sophomores first apartment. The lack f space normally dictates settings for 4 rather than 12. It's a boat so good China is out, all you need is good quality stacking plastic. Cooking utensils need to be multi-purpose and stackable, so a cheap kit, maybe with a few special tools. Sheets can either be bb&b or there are companies that will make custom sized sheets. Your choose but most sail with two flat sheets...

I have never added it all up (we only buy used boats) but I would be shocked if the hotel stuff adds up to more than 10k on all but the largest of boats. The refit cost is in the sails, electronics, diesels, and big budget systems (dive compressor, windlass, water maker, solar, ect). These have to be priced individually per boat.
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