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Old 16-01-2018, 11:33   #1
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The Other End of Cruising "Cost"

Not to start a debate about money....

BUT...there are so many posts about how CHEAPLY a family can cruise and live aboard. There are books, videos and a ton of expertise on how to budget, plan, save and live the dream with a small amount of money.

However, there is another side. Those who cruise without a budget. In trying to plan our 2018 launch we are having a hard time trying to determine the upper side of what we could realistically spend and setting up our financial plan to support us for the next couple of years.

We are not unwilling to dock in a marina, plan on eating out often and spending time in places doing culturally relevant things to share with the kids. We are becoming cruisers because we want to change our kids perspective on life. We are becoming cruisers to spend time in places giving back as much as we can.

Removing the cost of the boat (a newer 50 to 55 foot cat) and maintenance, what can we realistically expect to spend living 100% aboard sailing in Europe mostly. For those of you in similar situations, any help would be appreciated. If this is not a fair questions...moderators feel free to remove the post.

Thank you all. Family of 5 setting sail June 2018.
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Old 16-01-2018, 11:52   #2
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Its hard to put a figure overall.. some marinas will cost less than 50/night.. others will run up to 1000/night..
Another thing is eating out.. are you caviar and champagne or fish and chips.. but I'll be casual and say if you budget for 500,000/year your good to go anywhere.. almost
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Old 16-01-2018, 12:06   #3
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Re: The Other End of Cruising "Cost"

What boatman said.
There is no way to solidly answer this.

ie. eating out 5 people $20.00 each 2 star restaurant compare to eating out at 4-5 star restaurant $75.00-$100.00 per person. Alot also depends on where you stay. Slip fees. How long you stay. How much you intend to motor. Then there is the maintenance on your 50+ foot. Safety equipment/sailing gear for 5. Are you going to maintain it just enough to get by or are you going to keep it pristine.
That alone is a huge difference in budget.

If it were me I would figure maybe $125.000.00 to $200,000 per year.
So 5 years of cruising living aboard for a family of 5 would be $625,000 to $1,000,000. It could be just as easy to say $5 million.
I would also include $100,000-$200,000 as an emergency back up fund.

Just guesses I think it would be up to your life style and what you could afford.
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Old 16-01-2018, 12:56   #4
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The Other End of Cruising "Cost"

Living on a boat, and living on land are really not all that different.
On land you can live in a Mansion, or in a trailer park.

Biggest thing I believe is that people want to maintain their pre Retirement standard of living once they move aboard, if that was eating out every night at five star restaurants better budget to continue that.
Those that are unhappy either on land or on a boat are the ones that accepted a large cut in their standard of living.

The other thing is I believe people will adapt and spend what is available. I believe it may take a little while, but if you gave me $10K a month, Id spend it.
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Old 16-01-2018, 13:06   #5
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Re: The Other End of Cruising "Cost"

June 2018 is practically here, if your talking about setting sail with a family somewhere.

Fair warning I am no expert! But here are my thoughts.

Since your starting in June, Carribean is probably not your leaping off point. So either your getting the Cat in Europe or sailing west to east across the Atlantic?

Is your family up for the Atlantic crossing? Will you hire crew or a captain to assists?
Where will you start your European journey? Southern England, Penzance area is beautiful, but I can't imagine even a seasoned captain parking a 50+ foot cat in those areas. France, esp the bay of Arcachon, is fantastic, but very pricey in the summer months, 600-1000 euros for a dinner on the beach 5 persons. Do not pass it up if you like Fruits de Mer!
Spain and portugal are probably the cheapest for food and off the boat excursions.

I can attest that with my family, just the four of us, we have spent in excess of 70k in 18 days on some excursions, worth every penny. We are a "simple breakfast, light lunch, splurge for dinner" kind of family that likes to spend our time and money on experiences. You sound similar. So, again no expert endorsement here I will say,

750k-1mil Boat.
30k Captain + crew for certain passages.
200k-300k food + lodging off boat
50k Boat expenses , slips, repairs, fuel etc.
100k cultural immersion (guides, private meetings with local artisans etc)
200k Stuff happens money, we want to fly home for X-Y-Z, go skiing in the alps, gotta have that piece of art for back home I dropped my ipad in the drink etc etc.

Some will say I am unrealistic, but having lugged wife and kids around the globe for 15+ years I can tell you we have had some great adventures on the cheap, but most of the memories we love to re-tell with tears in our eyes were not about washing our own dishes or cooking our own food.

So, if you have it, after the boat purchase 500k a year is the high water mark. You could go nuts and spend a ton more, but if you have that kind of money your probably on some 200 foot luxury power boat in Ibeza.
Curiously, where in Europe do you feel you can 'give back'. If anywhere needs the $ it is the Carribean, and if your a Texan that's in your backyard.

Either way, good luck, I am jealous. I can get my wife and daughters on the bay in summer, and down to the Keys in winter but an Atlantic crossing I surrender.
If your open to other plans, I would ask the experts about starting with a variable draft boat in the european cannal system. More wife and kid friendly and lots of great historic and cultural places to see. Once that's done, sail back with the ARC to the Carribean and keep heading west! That's my dream at least.
Keep us updated.
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Old 16-01-2018, 13:14   #6
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Re: The Other End of Cruising "Cost"

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Originally Posted by TXnewbie View Post
...
Removing the cost of the boat (a newer 50 to 55 foot cat) and maintenance, what can we realistically expect to spend living 100% aboard sailing in Europe mostly. For those of you in similar situations, any help would be appreciated. If this is not a fair questions...moderators feel free to remove the post.

Thank you all. Family of 5 setting sail June 2018.
As someone else already mentioned, the cost is no different than land-based travel. You'll eat at the same style of restaurants you've always eaten at, stay at better marinas just as you stay at better hotels, rent cars, pay for guided excursions, send your clothes to the cleaners instead of going to the laundry, etc.

While I've not done it in Europe, I can only assume that it will be similar to the states... not in actual cost, but in concept. We've stayed at $300/day+ marina/resorts and at $40/day little hole in the walls.

So seriously, if you have the money, you'll spend exactly what you currently spend.

Enjoy!
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Old 16-01-2018, 13:22   #7
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Re: The Other End of Cruising "Cost"

For the OP: forget this is a boating forum for a minute. Ask yourself if this question about what you and your family "may" spend somewhere sometime in the future.

For example, rephrase it like this: "I'm going on a long vacation with my family. What will I spend?"

That is essentially your question.

If someone asked you that question, what would you say?
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Old 16-01-2018, 13:50   #8
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Re: The Other End of Cruising "Cost"

You are positing a very expensive type of cruising. The boat you want is very expensive both to buy and to dock. You are also cruising in a very expensive part of the world. We have not cruised in Europe, at least partly because of how much everything costs there. Our approach is to start with the supply side, how much money do we have and live well within that budget, which does not deny us much. We also have a significant reserve fund for either long term expenses, e.g. new sails or unexpected ones e.g large medical bills. I guess what I am saying is that it is impossible to predict your top end costs because we are not you.
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Old 16-01-2018, 14:24   #9
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Re: The Other End of Cruising "Cost"

There is just no way around the truth: Cruising will cost as much as you have.

If you have $500 per month, that is what you will spend. If you have $2000 per month, you will find a way to spend it. If you have $10,000, you will pay to stay in marinas, hotels, eat extravagantly, entertain, in ways that will average to $10,000 per month. With this information, you should be able to answer your own question.
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Old 16-01-2018, 15:22   #10
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Re: The Other End of Cruising "Cost"

One thing is certain, it is going to be a lot of zeros, and if you can afford to jump in at this level you should be hiring a team of professional consultants to do all this leg-work for you instead of asking a bunch of bozos on an internet forum. These pros are out there, and their cost is chicken-feed compared to the cash you are going to be burning through if you are serious about this type of cruising. In fact, they will most likely pay for themselves in both money and your own pain and suffering as you start any endeavor like this.

Most folks can't find the money in their budget for this kind of professional help, but it would help anyone. You don't even need to budget, if what you say is true. Just get some people to talk to their people and let all the cards fall into place.

Not everyone is poor, and I get that. So why do this legwork yourself tromping about on the internet?
Go out and hire some consultants who are experts at this and let them run these numbers for you, and even help with setting everything up. That's what they do. While I see a few really good estimates above they are only that, estimates. If you are at all serious about this and at this accelerated timeline you should already have been making those phone calls.
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Old 16-01-2018, 15:26   #11
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Re: The Other End of Cruising "Cost"

Love the spend on the water what you spend now. Solid advise. Our boating adventure will probably start in France. Quick trip to the Azores for winter with wife's family then north to ireland and England for summer fun. Still fuzzy about next steps but that is half the fun. Will get a captain for time period specified by insurance or my set up personnal captive program both to be my own insurance company and be able to take the tax deductions. The unknown cost is the kids school right now as my wife and I would prefer to support thier school program and not have to be the teachers. In this endeavor we don't want to limit thier college options and are looking for the best fit. Great advise from all. Thank you. It's horrible to ask but very little seems to have been shared before.
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Old 16-01-2018, 15:29   #12
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Re: The Other End of Cruising "Cost"

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One thing is certain, it is going to be a lot of zeros, and if you can afford to jump in at this level you should be hiring a team of professional consultants to do all this leg-work for you instead of asking a bunch of bozos on an internet forum. These pros are out there, and their cost is chicken-feed compared to the cash you are going to be burning through if you are serious about this type of cruising. In fact, they will most likely pay for themselves in both money and your own pain and suffering as you start any endeavor like this.

Most folks can't find the money in their budget for this kind of professional help, but it would help anyone. You don't even need to budget, if what you say is true. Just get some people to talk to their people and let all the cards fall into place.

Not everyone is poor, and I get that. So why do this legwork yourself tromping about on the internet?
Go out and hire some consultants who are experts at this and let them run these numbers for you, and even help with setting everything up. That's what they do. While I see a few really good estimates above they are only that, estimates. If you are at all serious about this and at this accelerated timeline you should already have been making those phone calls.
Fair point. Have looked for professionals but have not found something meaningful. I put a lot of stock in people doing it and regardless of finances, all experience is helpful.
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Old 16-01-2018, 15:35   #13
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Re: The Other End of Cruising "Cost"

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For the OP: forget this is a boating forum for a minute. Ask yourself if this question about what you and your family "may" spend somewhere sometime in the future.

For example, rephrase it like this: "I'm going on a long vacation with my family. What will I spend?"

That is essentially your question.

If someone asked you that question, what would you say?
Yes and no. My thought is that our lives are changing. We are living in our home that happens to move. No cars, no lawn or pool expenses. The variable of where we dock or anchor is unknown. Food and entertainment would seemingly be the same as home..possibly less as we would be forced to eat at home more often. As far as a vacation, yes, there is that but that cost is measurable based on the crazy adventures we subscribe to as a family. The point of this adventure is to give our kids a different perspective on live and the world before they are gone. We are simply blessed to be able to give this to them as parents. Kids are 11, 13 and 16 and I suspect this will be life changing for them and my wife and I.
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Old 16-01-2018, 15:36   #14
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Re: The Other End of Cruising "Cost"

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Originally Posted by TXnewbie View Post

We are not unwilling to dock in a marina, plan on eating out often and spending time in places doing culturally relevant things to share with the kids. We are becoming cruisers because we want to change our kids perspective on life. We are becoming cruisers to spend time in places giving back as much as we can.

Removing the cost of the boat (a newer 50 to 55 foot cat) and maintenance, what can we realistically expect to spend living 100% aboard sailing in Europe mostly.

Thank you all. Family of 5 setting sail June 2018.
I say figure $3-5k/month.

Good luck!
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Old 16-01-2018, 15:48   #15
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Re: The Other End of Cruising "Cost"

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No cars, no lawn or pool expenses.
Funny!!!!!

You will have a boat, which will cost far more in maintenance than cars (not including cars for teenagers.)

No lawn expenses? Wait until you see what grows on your hull and the cost to maintain your bottom with haulouts, especially on a 50'+ catamaran....

No pool expenses? Well this is true, but if you plan to stay in marinas, as a transient, especially in Europe, these expenses could exceed that of most mortgages, taxes, insurance, and pool maintenance combined.
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