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Old 15-12-2015, 08:02   #31
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pirate Re: How much can I responsibly afford to spend?

Get yourself an owners version Lagoon 380 and the tropical worlds your oyster.. small and well laid out enough to solo.. yet capable of accommodating up to 4 guests in comfort for a while..
If pre-owned it'll be fitted out with all you need and the niggles sorted..
Enjoy..
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Old 15-12-2015, 08:05   #32
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Re: How much can I responsibly afford to spend?

a64pilot, he could certainly go bigger than a mid to upper 30 foot cat - and should keep in mind that all else being equal, a bigger boat is faster, safer, and more stable. There are limits, of course, but there are a number of cats in the 40 to 45 foot range that will be no more difficult to sail than a 38 foot cat. Sound advice, of course, on saving for his post-sailing days!

Brad
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Old 15-12-2015, 08:19   #33
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Re: How much can I responsibly afford to spend?

I like this thread. Its sort of like when you buy a lottery ticket and before the drawing you think of all the things you are going to do and how your going to spend it.
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Old 15-12-2015, 08:19   #34
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Re: How much can I responsibly afford to spend?

I have to go with Boatman, how much room do you need, and at what point does it become a liability?
I differ with him a little I guess in that I don't think of a Lagoon 380 as being small. I can see a Lagoon 380 as being a good boat for a four person family.


It might be a little different if he had experience and knew this was his life's dream, and was positive he was going to spend at least ten years doing it.
But if you have cash and can watch for a deal and jump when it becomes available, I don't see how you could get hurt buying an Owners version Lagoon 380.

On edit, then after a year or two, if he decides this is really what he wants to do, by then he will know probably exactly what boat he wants, and as a the Owners version 380 is a very popular boat, he won't have any trouble selling it.
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Old 15-12-2015, 08:35   #35
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Re: How much can I responsibly afford to spend?

I'd spend $130 to $150K on a quality 40 foot cat from the late 1980s. Then re-fit it myself for $50 to 70K over the course of a year or so. There's no better way to learn the vagaries of your boat than to identify, research and replace issues yourself.

Every bolt removed and rebedded, engines overhauled, rigging, rudders, sails etc. The whole shootin' match.

The remaining $1M placed in some nicely balanced funds will conservatively earn 4% annually after taxes and thus grow by $40K per year and keep pace with inflation until you finally return. Figure a couple Mil after 13 years. Plus a residual $100K or so from the boat, assuming you don't leave it on a reef somewhere!

Meantime cruise like a king on your trump card - the "passive" income of $120K/yr - $24K a year for health insurance, $12K on food, $20K fuel and maintenance, and the rest is play money....
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Old 15-12-2015, 08:36   #36
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Re: How much can I responsibly afford to spend?

Quote:
Originally Posted by D-Vector View Post
First, thanks for all the responses - whether helpful or snarky, they all serve to inform in one way or another.

A little more about me, briefly. Yes, I am new to sailing - I fell in love with it years ago when working in the Bahamas, where I rented a Prindle 16 beach cat every weekend. Since that time, I have rented sailing vessels in numerous locales, usually small daysailers. Over the past several years, I have chartered cats in the US and British Virgin Islands, and have taken a week-long sailing course. I know that I am extremely green, but everyone needs to start somewhere, and my current location doesn't afford many sailing opportunities, so I do the best I can.

Why now? It turns out that I do project work, and my latest job, which I have been working on for years, is coming to an end in 2016. That and the fact that I am getting a little older are motivating me to consider the cruising lifestyle now.

I should note that I have no love loss for my profession and frankly do not intend to continue in my field beyond 2016 no matter what I end up doing, cruising or otherwise. As such, I have been preparing to move on with my life for years, and again, it finally feels like now is the time.

I agree with TheThunderbird who suggested chartering more boats or serving as crew before taking the plunge. This is great advice, and something that I have been considering before purchasing a boat Ė and frankly, is the approach I will likely take.

Regarding my original question, let me see if I can elaborate. What Iím trying to determine is the maximum amount I should consider spending on a vessel, including acquisition and restoration/refurbishing costs, if any are necessary. Iím not saying that I would necessarily max out my budget, but what I'm trying to avoid is setting my sights on something that I cannot responsibly afford, as I would like to be realistic when considering my options. Once I have a budget in mind I can start looking, but at the moment, I don't know what my budget should be, and that is the root of my question. Further, knowing what I can afford will also be instructive as I decide how to move forward at this pivotal point in my life, as it will give me an idea of how I can afford to live while cruising.

Finally, as WindwardPrincess said, this is, ďa financial question, not a cruising one.Ē I agree, but at the same time Iím guessing that finance and budgeting are an important part of cruising. With that said, if Iíve posted my question in the wrong area of the Cruisers Forum, please excuse me.

Thanks again.
all this to ask a question only you can answer.
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Old 15-12-2015, 08:36   #37
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pirate Re: How much can I responsibly afford to spend?

By 'small' I was referring to being of a size within comfortable handing solo in out of the way places..
and no stupid flybridges..
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Old 15-12-2015, 09:07   #38
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Re: How much can I responsibly afford to spend?

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I have $1.2M in the bank, a passive income of conservatively $120K / year, and I expect annual increases of at least 5%. I am 47 years old and plan to live the cruising lifestyle for at least a few years.
Sorry, with those finances you would starve. Keep working.
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Old 15-12-2015, 09:13   #39
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Re: How much can I responsibly afford to spend?

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Originally Posted by Southern Star View Post
a bigger boat is faster, safer, and more stable.
Have to politely disagree here

How is bigger safer? More comfortable, yes. Likely faster, agreed.
But safer? Might feel that way (more comfortable), but that's about it.

Doesn't really matter tho, OP is not asking for what boat to buy, just how much money to spend on one.
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Old 15-12-2015, 09:21   #40
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Re: How much can I responsibly afford to spend?

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Originally Posted by Lizzy Belle View Post
Not agreeing or disagreeing with anyone

What I'm trying to say is that the OP's question isn't about money. Something else is keeping him from cruising, and whatever it is, is what he needs to sort out so he can actually get himself on a boat and sailing.
dear, yes and no
Having put aside 1.2m US$ this guy is bright and over busy to sail around
I just cautioned that the boat/personal expenses will be a 80/20 breakdown, in normal conditions..

This warning was due, as boat is 1st priority when living aboard, and self is 2nd
Also, any correction factor must be 30+%, not 5% (pennies...)
On my 54', any average decision falls into the 400-2000EUR bracket, whatever it is...fenders, ropes, solar, alternator... and there are 100+ items alike on board...
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Old 15-12-2015, 09:27   #41
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Re: How much can I responsibly afford to spend?

A better question might be how large a boat can you comfortably handle in ALL conditions. It sounds like you can afford more than you can handle so you are in the happy position of worrying everything else such as can you handle the limited space and organized style required even on a large boat?
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Old 15-12-2015, 09:29   #42
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Re: How much can I responsibly afford to spend?

I'm thinking troll ... Surely anyone bright enough to put himself in that financial position is bright enough to answer his own question.
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Old 15-12-2015, 10:00   #43
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Re: How much can I responsibly afford to spend?

Sailing is not about money. Its about skills, experience, and ability.

I sailed across the atlantic in 2010...didn't cost me a dime.
Boats are cheap...the hard part is sailing them.

Yes, money is nice. Money helps, it can make life easier. But sailing is so much more than just money. You forget all about money the moment you cast off those bowlines, and leave the dock. Its just you out there. Leave your money at home.
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Old 15-12-2015, 10:00   #44
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Re: How much can I responsibly afford to spend?

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I'm thinking troll ... Surely anyone bright enough to put himself in that financial position is bright enough to answer his own question.
Not sure I agree with this.

Lots of bright folks have specific knowledge that allows them to attain financial security but lack knowledge in other areas; in the case of the OP it may be about cats.

I see lots of posts in this thread recommending some flavor of Lagoon or FP. It would be easy to find threads bashing condomarans and claiming some of the more performance oriented boats would be a better choice. For what ever reason the OP seems to want a cat, but it is easy to find threads saying a monohull is a better choice and there are posts in this thread saying that.

Sometimes it helps folks with less experience to read a thread like this with lots of advice and go through the mental exercise of separating the wheat from the chaff.

Only the OP can determine if he is a condomaran guy or a performance oriented guy. Only the OP can determine if he wants what I will call an easy cruising Florida Keys guy or someone who likes to cross the Thorn Patch with impunity.

Reading a thread like this may help answer these questions.

It also may help folks posting in this thread reevaluate their personal choices.
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Old 15-12-2015, 10:12   #45
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Re: How much can I responsibly afford to spend?

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Lots of bright folks have specific knowledge that allows them to attain financial security but lack knowledge in other areas; in the case of the OP it may be about cats.
Very true. And even if the OP weren't "for real", someone reading this thread at some point could benefit from the replies.

As to the whole cat/monohull thing: I recently visited a guy who'd just bought his first boat (a big cat, forgot which one, sorry) overseas and delivered it himself.

"They said it wouldn't be a bumpy ride, cos it's a cat. Trust me: it was bumpy. Cats move. Cats bounce."

Well - doh. Just look at them waves, and it's still a boat. But with so many people saying over and over how comfy cats are, some people with less experience really do think they're floating apartments and they can cross an ocean without being tossed like dice in a cup. For him, that was a bit of a rude awakening

Before deciding between monohull or cat, make sure you have experienced both. And not just on a cold wine and snacks day, but a real sail.

I will say this for cats: plenty of daylight, and you can see out. I can't see a damn thing when I'm sitting down.
The downside is, obviously, you're in a 'fishbowl' and with the lights turned on at night, everybody knows when you're picking your nose
But that's only relevant in a marina, which you shouldn't be spending too much time in, if all goes well methinks.
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