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Old 28-08-2013, 10:55   #1
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I have a Dream

In honor of the 50th anniversary of MLK's famous speech,......I have a dream!
That dream is to own a catamaran that my family and I can cruise for part of the year (summer most likely, as the kids will be in school). Once the the kids are out of school, the plan is to move onto the boat for longer periods, and slow down at work.

I currently work and live in Austin, TX. I grew up in the Virgin Islands and plan primarily cruising the Caribbean (until further in the future when I can take more time off). I currently think that keeping the boat at a marina in Eastern Puerto Rico is probably the best option (easy to get to Puerto Rico, US territory, marina's much more reasonable than USVI). My primary hesitation on buying the boat is the fact that I will have to spend a fair amount of money just to own the boat, and will not actually be able to use the boat as much as I would like (justify the cost). In order to make that decision, I would like to get a better idea of what the actual costs will be. Docking/mooring is obvious. However, how does one figure out approximate insurance cost (new boat). Hauling/maintenance fees, etc?

This dream is may just be a dream, however, I would like to continue to move towards it becoming a reality. I think I am a few years away from even buying the boat, but it never hurts to start looking and gathering data
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Old 28-08-2013, 11:22   #2
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Re: I have a Dream

Welcome to the forum, and follow the dream. Its what I'm doing.
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Old 28-08-2013, 12:24   #3
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Re: I have a Dream

Buy a boat, and put it in a charter fleet like Horizon... That way during the peak season the boat is generating peak revenue, and in the summer months when it isn't generating revenue you take the family for a cruise.

Problem solved.
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Old 28-08-2013, 12:40   #4
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Re: I have a Dream

Insurance for our cat in the hurricane zone was $9k/year. Since leaving the zone it has fallen to $3k (hauled out 10 mo / year). Berthing in St. Maarten (Oyster Pond) was $11k/year in the water. Annual haulout was $2500 plus bottom paint (can't remember how much that cost). In all I used to spend about $30k per year just to maintain the boat.

I hope you can follow your dream. Remember that the time you want to use the boat is also high hurricane season. Not only do you run the risk of getting caught in one, but about everything is closed on the islands during July and August. We have brought or boat to the Med in order to use it when the kids are out of school. It's much nicer and far more educational for them.
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Old 28-08-2013, 13:16   #5
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Re: I have a Dream

I have a dream too, that someday I'll pull into that fancy Yacht club in Palm Beach and be judged by the contents of my boat and not the character at the helm.
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Old 28-08-2013, 13:43   #6
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Re: I have a Dream

Welcome aboard! ...and once the kids are gone you'll be saying: "Free at last! free at last! thank God Almighty, we are free at last!" Follow that dream!
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Old 28-08-2013, 13:57   #7
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Re: I have a Dream

Well said Mike A
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Old 28-08-2013, 14:05   #8
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Re: I have a Dream

I say charter now, buy later (or not at all).

If you are not going to use the boat for extended periods of time, you will need someone to take care of her. Or else accept that she will be deteriorating fast.

I sometimes rescue boats that sit abandoned like that (working mostly for new owners). Believe me it is money and then some more money. You do not want this.

Charter.

b.
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Old 28-08-2013, 19:47   #9
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Re: I have a Dream

Wow, thanks for all the welcoming comments! You guys are a hell of a lot nicer than Anarchy!

Palarran, I appreciate the real numbers, it's what I am looking for. I assume (to a large extent) that the amount of insurance is based upon the value of the boat? As far as the time of year, I will be bound to the summers for the next 5 to 10 yrs, simply because of the fact that I have young kids and they are in school. I am aware of the limitations of the Caribbean during that time. I lived in St. Maarten form 1970 until 1981 at which point I moved to St.Thomas to attend high school. My father was a charter boat captain. It is what it is and I am trying to make it work.

FL Catsailor. I have considered the option of buying a boat and putting it in a charter fleet. Several things about that are unattractive to me. The limitations of time, the wear and tear on the boat to mention a few. I have bareboated extensively and I am still considering it, however I am looking for a little more.

Barnakiel. As I said it is a dream. Dreams aren't always tied up by logic. We do a lot of things that really don't make financial sense (having kids probably at the top of the list), but we do them anyway, and often (not always) the fulfillment is often worth the cost (having kids at the tip of the list). There is so much truth in what you say, and that is why it is still a dream!

Thanks again for the advice and the welcome. I look forward to learning much from this community!
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Old 29-08-2013, 06:54   #10
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Re: I have a Dream

Quote:
Originally Posted by boneboy View Post
(...)

Barnakiel. As I said it is a dream. Dreams aren't always tied up by logic.

(...)
I am 100% with you. For I am a dreamer myself. I think dreams are like fuel. They are primary - they happen so that other things can happen.

Dream big. Use logic to get from here to there.

Fair winds,
b.
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Old 29-08-2013, 13:10   #11
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Re: I have a Dream

Five years ago I owned my small business. Five years ago I had a bunch of friends either drop over dead or get hit with some major health issues. Five years ago I put together my dream - to sell the business, buy a cat, and sail away before I get too old and decrepit to do so. A year ago I sold the business, with a two year contract to run it and train someone to do so. I bought the cat in March 2013 (needs a lot of TLC and that keeps me busy in my spare time). In 360 days I plan to retire and in September 2014 I intend to head south. It took a couple years longer than I wanted, but I think it's falling in place.
Without a plan, without a dream, you go nowhere and then wonder where everyone else went.
DO IT!
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Old 29-08-2013, 13:19   #12
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Re: I have a Dream

Quote:
Originally Posted by boneboy View Post
Wow, thanks for all the welcoming comments! You guys are a hell of a lot nicer than Anarchy!

Palarran, I appreciate the real numbers, it's what I am looking for. I assume (to a large extent) that the amount of insurance is based upon the value of the boat? As far as the time of year, I will be bound to the summers for the next 5 to 10 yrs, simply because of the fact that I have young kids and they are in school. I am aware of the limitations of the Caribbean during that time. I lived in St. Maarten form 1970 until 1981 at which point I moved to St.Thomas to attend high school. My father was a charter boat captain. It is what it is and I am trying to make it work.

FL Catsailor. I have considered the option of buying a boat and putting it in a charter fleet. Several things about that are unattractive to me. The limitations of time, the wear and tear on the boat to mention a few. I have bareboated extensively and I am still considering it, however I am looking for a little more.

Barnakiel. As I said it is a dream. Dreams aren't always tied up by logic. We do a lot of things that really don't make financial sense (having kids probably at the top of the list), but we do them anyway, and often (not always) the fulfillment is often worth the cost (having kids at the tip of the list). There is so much truth in what you say, and that is why it is still a dream!

Thanks again for the advice and the welcome. I look forward to learning much from this community!
You still did not post your first photo;-)

Get a smaller boat that you can use now and then get that big awesome cat later. It would get you on the water now at a much cheaper price!

My dad used to tell me and it holds true. The bigger and more expensive the boat, the less you use it. Obviously that is a blanket statement and does not hold true all the time, but it holds true a lot of the time.

The go small go now things seems to make lots of cent$
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Old 29-08-2013, 13:42   #13
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Hi

I recently bought a CAT and have competed the few needed upgrades...
My plans to " cruise" may get delayed somewhat and have considered taking on a partner..
My sail schedule will be flexible.

I also need a convenient location in the Caribbean to reach by air for a couple of years..

Does not hurt to chat to see if there is any opportunity here.

Regards

Geoff
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Old 29-08-2013, 14:59   #14
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Re: I have a Dream

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Originally Posted by Gboy View Post
I recently bought a CAT and have competed the few needed upgrades...
Geoff
Did you buy Shearwater? I see it's for sale again. I'm confused.
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Old 29-08-2013, 15:49   #15
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Yes "the shearwater Conser 47 is mine since February, not currently for sale... Great CAT in great shape..

G,
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