Originally Posted by AlmostParadise
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
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
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
3. $50K for first year's cruise
expenses (about $4K per month). This is to cover the cruising costs such as check in fees
, 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.).
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.