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Old 24-02-2015, 23:32   #76
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Re: Is it possible to live aboard a boat with no money (no income)?

Thing is the OP does have money and he's going to be working some part time. Obviously there are several camps as to what to do. One side says work hard, pay taxes and in 30 years or so buy a boat maybe. The other side, says just do it and things will happen.

It's all a craps shoot anyway.

Myself I always wanted to live on a boat, even in my teens. My parents aimed me towards a more conventional life, sans boat. It was interesting. In the end, I gave my ex. my half of the house, land, etc. and said I am out of here. Now I live and even work on my little boat and love almost every minute of it. The parts where its blowing 40 gusting 50 and above, are less fun then you wound think. Still it beats working 8-5.

I use to make $90k+ a year up to the great recession. I am far happier now, making less then $10K a year then I ever was working and living the American dream. That dream can be a nightmare to some.

So I'm firmly in the camp of go small and go now. Funny thing is I run into boaters all the time, with big boats, nice homes, cars, etc. They all say the same thing. "I wish I had your life." I tell them they can, but their eyes glaze over, when I say I live on $6000 a year.

No I don't have much. but its enough and while I might not have the biggest or newest boat, I am enjoying living and sailing and just being, pretty much tons more then the folks that commute to work every morning.
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Old 25-02-2015, 07:38   #77
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Re: Is it possible to live aboard a boat with no money (no income)?

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Originally Posted by letsgetsailing3 View Post
I don't think they meant "don't have resources".

It does take money to cruise, and to live.
He has some money.
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Old 25-02-2015, 07:45   #78
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Re: Is it possible to live aboard a boat with no money (no income)?

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He has some money.
If you go back to his original question, he's wondering if it's possible to purchase a boat, and then to live on it with no income.
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Old 25-02-2015, 08:09   #79
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Re: Is it possible to live aboard a boat with no money (no income)?

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Originally Posted by letsgetsailing3 View Post
If you go back to his original question, he's wondering if it's possible to purchase a boat, and then to live on it with no income.
That will be difficult because he will need an address for his welfare check.
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Old 25-02-2015, 08:39   #80
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Re: Is it possible to live aboard a boat with no money (no income)?

I Keep seeing one thing on this forum that I cannot make sense of

Maintenance is 10% of the cost of a boat. What no allowance for the age / condition of the boat? Don't buy a newer $250,000 boat because maintenance cost are $25K a yr,
better buy an old $10,000 boat so maintenance will only be $1K a yr?
It just doesn't pass the common sense test.
SC even said in her post, newer boats cost more to maintain. Not to put words in her mouth, but I think she meant newer, more complicated maybe?

I'm going to bet that the median price of the average cruising boat is between 85K and 125K, average.
I haven't seen maintenance costs in the "how much does it cost to cruise threads" of $8,500 to $12,500 per year.

I think 10% may be valid for older, less expensive boats, I mean you paid less to some extent because she needed work right? But as you look at newer, more expensive boats, that becomes less valid.
I can't see the logic in two identical boats, one 5 yrs old, one 20 yrs old, that the older boat cost far less to maintain, if that were true, then you would have to be a fool to buy a new boat
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Old 25-02-2015, 08:46   #81
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Re: Is it possible to live aboard a boat with no money (no income)?

Jeepx I have just what a starter might want. I own a 36 pearson a 30 morgan and a 23 s2. All on a canal in northwest panhandle of florida the 30 Morgan is the (starter) boat You pay me 500$ a month for rent and boat payments Live on my dock 1/2 day sail to gulf !!! Or pay off and liveaboard for $200 a month at my slip. PM me John


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Old 25-02-2015, 08:48   #82
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Re: Is it possible to live aboard a boat with no money (no income)?

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Originally Posted by a64pilot View Post
I Keep seeing one thing on this forum that I cannot make sense of

Maintenance is 10% of the cost of a boat. What no allowance for the age / condition of the boat? Don't buy a newer $250,000 boat because maintenance cost are $25K a yr,
better buy an old $10,000 boat so maintenance will only be $1K a yr?
It just doesn't pass the common sense test.
SC even said in her post, newer boats cost more to maintain.

I'm going to bet that the median price of the average cruising boat is between 85K and 125K, average.
I haven't seen maintenance costs in the "how much does it cost to cruise threads" of $8,500 to $12,500 per year.

I think 10% may be valid for older, less expensive boats, I mean you paid less to some extent because she needed work right? But as you look at newer, more expensive boats, that becomes less valid.
I can't see the logic in two identical boats, one 5 yrs old, one 20 yrs old, that the older boat cost far less to maintain, if that were true, then you would have to be a fool to buy a new boat
I think you're right, but I wouldn't get wrapped around the axle on it. While newer boats require less maintenance, I do think that when they need replacements, there is a tendency to purchase higher quality equipment for a more premium boat, so a more premium boat may require a higher expense in order to keep it a premium boat.

The 10% thing is just a reminder that boats cost money to maintain. I do think that somewhere between 5 and 10% is probably a pretty good figure over the long term.
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Old 25-02-2015, 09:26   #83
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Re: Is it possible to live aboard a boat with no money (no income)?

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Originally Posted by letsgetsailing3 View Post
If you go back to his original question, he's wondering if it's possible to purchase a boat, and then to live on it with no income.
Well...........

If you go back and read past the title of the thread you will note that he said first "Let me reword that" and later he says "I'd plan on working the winter months, then live off that money all summer."

No income but money in the pocket (bank, mattress, whatever) is doable.



A lot of people are smarter than I was and only work part of the year. AND have a "life" the other part. I fell for the cool-aid. You?
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Old 25-02-2015, 09:28   #84
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Re: Is it possible to live aboard a boat with no money (no income)?

Maintenance Costs has a lot to do with size of the vessel, production levels, known faults and wear and tear.

My boat, Westerly Centaur (All prices in Sterling)
Sails 1K
Engine, I have a spare but call it 2K Servicing can be done by self for cost of oil and filters.
Rigging: 400 with rotostay and turnbuckles 500 fitted.
Lines..... 200

Electronics.. as much or litle as you want.
interior.... as much or as little as you want.

So if I went mad and replaced all the above, its only 3700 sterling or US $5700, Not to be repeated for several years.

ANtifouling- etc every 2 years. Other ongoing costs like hull clean can be done when tide goes out so no lift charges.

I dont see a well kept centaur costing more than $1K a year, unless a major event happening.... new or old. A bit of waxing, checking seacocks, through hulls, job is good one.

It would be a lot more expensive if I was going to the Med on it. My equipment list would grow, shower fitted, over size rigging....... life raft, new dinghy, new dinghy outboard, some new electronics, 2 more EPIRBS, spare sails, carry more spares for engine, take mast down and service it....etc etc. Only, I dont want to take it to the Med and will use a Catamaran for the sweet life.......

But for coastal work, here, for the day or overnight sailing I do........ its fine. I dont stretch it or push the boat.

So yes, the OP can live on a low maintenance boat for a long time.
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Old 25-02-2015, 09:43   #85
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Re: Is it possible to live aboard a boat with no money (no income)?

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Originally Posted by a64pilot View Post
......................
........................I think 10% may be valid for older, less expensive boats, I mean you paid less to some extent because she needed work right? But as you look at newer, more expensive boats, that becomes less valid.
I can't see the logic in two identical boats, one 5 yrs old, one 20 yrs old, that the older boat cost far less to maintain, if that were true, then you would have to be a fool to buy a new boat
I think the 10% estimate for annual maintenance is possible, but far from an expectation. Two people can have identical boats kept at the identical level of care and upgrades with one spending three times the cost of the other. Some people assign their money for this use without apparent concern. As an extreme example, I met a crusier who had a diesel mechanic travel to his boat to change his impeller for a total cost of $300. I complete this task on my boat for minutes spending the $12 cost of the part.

I would expect an older boat to require more for maintenance than a new boat, but not at a cost that comes near the difference in cost for the new boat. I wouldn't call someone a "fool" for buying a new boat, but I would indentify them as having money to waste.
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Old 25-02-2015, 11:52   #86
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Re: Is it possible to live aboard a boat with no money (no income)?

Quote:
Originally Posted by a64pilot View Post
I Keep seeing one thing on this forum that I cannot make sense of

Maintenance is 10% of the cost of a boat. What no allowance for the age / condition of the boat? Don't buy a newer $250,000 boat because maintenance cost are $25K a yr,
better buy an old $10,000 boat so maintenance will only be $1K a yr?
It just doesn't pass the common sense test.
That 10% estimate is an amortized annual number (i.e. if in year 5 you do a new standing rigging the cost is averaged over the 5 years, not applied to a single year). It's also based in maintaining the boat in the best condition to avoid significant depreciation. A newer boat can depreciate quicker than one that is already at 50% of its adjusted purchase cost if you don't regularly clean, polish and wax the hull, plus things like interior varnishing, exterior teak, polishing SS, etc.

Quote:
SC even said in her post, newer boats cost more to maintain. Not to put words in her mouth, but I think she meant newer, more complicated maybe?
That is my assumption. An older 38 foot boat will typically only have one head for example. Newer boats in that same size will have two heads. That's twice the systems. The other part of this is that its not just and older or smaller boat but a "simple boat". That means less system overall. Electric winches for raising the mainsail are great but add a lot more to the boat than just a winch. You need to more power, they are harder to maintain, stress your battery system more, etc.

Quote:
I'm going to bet that the median price of the average cruising boat is between 85K and 125K, average.
I haven't seen maintenance costs in the "how much does it cost to cruise threads" of $8,500 to $12,500 per year.

I think 10% may be valid for older, less expensive boats, I mean you paid less to some extent because she needed work right? But as you look at newer, more expensive boats, that becomes less valid.
I can't see the logic in two identical boats, one 5 yrs old, one 20 yrs old, that the older boat cost far less to maintain, if that were true, then you would have to be a fool to buy a new boat
I think there are two reasons for that. First, the costs you are looking at probably don't include any of the pre-cruising refit costs. Most people start publishing there cruising data when they leave. This ignores the new rigging, new sails, tons of spare parts, overhauled engine, etc. Take those costs and average them over the years of ownership and you will get to the 10%.

Second, you get some of the deferred maintenance crowd. One of the worst things you can do, and I am speaking from experience here, is buy a 10 year old boat. The previous owner will likely have ignored maintenance all together because he bought a new boat. Why worry about that stuff, its new. He may clean it and keep it looking nice. Buy polysulfide bedded deck hardware should be rebedded in that time frame. Impellers and other pump maintenance should be getting done on a regular basis. Batteries still need maintenance. New shinny boats will get ignored in this regards many times.

Not to mention what parts manufacturers use compared to what you would use. A certain frequent contributor to this forum who owns a newer Oyster that he purchased new and seems to have a really good maintenance program said in a different thread that he replaced all of his seacocks because the manufacturer used questionable quality parts. On an Oyster?

Just my thoughts on the 10% number.

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Old 25-02-2015, 12:02   #87
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Re: Is it possible to live aboard a boat with no money (no income)?

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That will be difficult because he will need an address for his welfare check.
A man 18-49 years old without income or children, does not qualify for welfare or food stamps.
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Old 25-02-2015, 12:05   #88
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Re: Is it possible to live aboard a boat with no money (no income)?

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A man 18-49 years old without income or children, does not qualify for welfare or food stamps.

Ah...hello....yes they do and there are plenty of them sucking the Tit of mama government, no one is turned away, especially here in California.
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Old 25-02-2015, 12:08   #89
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Re: Is it possible to live aboard a boat with no money (no income)?

I can't speak to newer boats, but I think I spend very close to 10% per annum on my 1979 cruising boat. I would say I spend about another 10% per annum on upgrades.

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Old 25-02-2015, 12:08   #90
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Re: Is it possible to live aboard a boat with no money (no income)?

I would say encouraging him was bad, however a short time of taking a dump in a bucket, warm beer and going hungry, may be a good lesson in life?
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