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Barbar0ssa · 09-05-2017, 10:04

I am the father of 7 ranging from 12 to newborn and starting to dream about a 6 month cruise in the caribbean. I currently have $20k and am saving at $2k/mo and am trying to figure out how to make this work as soon as possible. Ideally I could start within a year. I’m following the thread for the family of 5, but we need to find a boat that sleeps 8. I’ve looked at tons of listings but they only rarely mention the number of beds on a boat!

I’ve been looking at a budget of $100,000. I’d use the $20k as a down payment and then my financing costs should be under $1,000/mo. From what I’ve read so far, I am looking for a 4 cabin boat, either an ex-charter like a Bentenue 43.4 or larger. The number of beds is more important than the number of cabins. Just about any 4 cabin cat should work for us too (and the wife and I really like cats), but I don’t know if I can make the money work.

Where do I start?

Kenomac · 09-05-2017, 10:30

Nine people full-time on a 43ft boat? A newborn? Any emergency fund beyond the $20k for the down payment? What about healthcare costs?

You're not going to get very far without at least a $25k cushion for emergencies and repairs, which you will end up spending sooner than later.

Nine people... that's incredibly tight. Both budget and accomodations and we haven't even discussed water needs, storage etc.

If you're planning to finance this adventure beyond the $20k down payment, I'd say forget about it. It's going to cost you a minimum of $3,000 per month beyond the cost of the boat and repairs, just for the basics for nine people... including the newborn. Food, clothing, fuel, water, healthcare, insurance, customs fees, mooring fees, etc.

Tkeeth · 09-05-2017, 10:34

I have more boat than that, more money than that, and just me and my wife....I can't do it. Maybe look into a 30 day charter on a cat? See how that goes and do a better prep for a longer run?

Kenomac · 09-05-2017, 11:05

OP,

You're going to end up with people on this forum recommending you "go for it," but you need to be realistic. Most of them just want to see the train wreck at the end of the movie.

When my wife and I were in our mid 20's with one newborn, we went boat shopping and almost purchased a brand new Baba 30. But then reality hit us regarding the expenses, responsibilities of having a small kid with another one on the way. Ultimately, we postponed everything... with no regrets.

Really.... think this through logistically.

Steadman Uhlich · 09-05-2017, 11:10

Quote:

Originally Posted by Barbar0ssa

I am the father of 7 ranging from 12 to newborn and starting to dream about a 6 month cruise in the caribbean. I currently have $20k and am saving at $2k/mo and am trying to figure out how to make this work as soon as possible. Ideally I could start within a year. I’m following the thread for the family of 5, but we need to find a boat that sleeps 8. I’ve looked at tons of listings but they only rarely mention the number of beds on a boat!

I’ve been looking at a budget of $100,000. I’d use the $20k as a down payment and then my financing costs should be under $1,000/mo. From what I’ve read so far, I am looking for a 4 cabin boat, either an ex-charter like a Bentenue 43.4 or larger. The number of beds is more important than the number of cabins. Just about any 4 cabin cat should work for us too (and the wife and I really like cats), but I don’t know if I can make the money work.

Where do I start?

Howdy and Welcome Aboard CF!

You have a need for a lot of berths and berths for 9 is MUCH more than usual on small yachts.

It does not sound like you have the finances for a catamaran. Many do not.

While the four cabin Beneteau may seem like a lot of boat, it is really just four double berths. I don't see that as a good solution for a family of NINE people.

Instead, I suggest you consider a boat that has individual berths in "racks" (2 or three high) and has a layout (saloon, galley, storage) and systems to support a larger crew of people.

With berths like this, each child would have an individual "private" space, which can be open or closed (using curtains, lee cloths, or netting). It is what is common in training ships. And, because of their placement in the hull, it can be comfortable berths, and possibly safer than some double berths in the bow of a Beneateau when you are voyaging.

Here is a boat that offers some of the features I think would be a much better fit for a large family to cruise and live aboard. It is a boat that was fitted out originally to handle a large crew of kids (sea scouts) and it does have a double master's cabin (good for parents) and multiple bunks and a large saloon table for meals etc. The current owner has described his refit of the boat with new gear and maintenance.

Boats like this are odd or unusual (for layout) and so may be very difficult to sell (most people don't need that many berths) which means YOUR potential to negotiate a good price is improved, especially IF you do not mention you have 9 people in your family (that is your business afterall). IF you look at keeping the boat long term, it may be a good fit for your family, especially if you intend to liveaboard for a long time as the kids grow.

Otherwise, simply charter a boat for your family to enjoy a cruise.

The following boat is currently for sale. I have no connection to the boat or seller. I am simply sharing this to give you an idea of what I would be looking for if I were the father and had 9 people in my family to take care of and berth on my boat. According to the ad, a lot of work has been done recently to "refit" this boat. Some of the things mentioned are very good to see, and while some of the listed items may not be understandable to a newby sailor, there are things there that are good items and good "upgrades" for an older boat. You would need to get a professional yacht surveyor to survey ANY large boat you intend to buy.

Other CF Members can give you advice on financing or not, and how much it costs to cruise the Caribbean can be found by searching the CF archives. I won't get into whether or not this boat or another make economic sense for you or whether you have an adequate budget to purchase and maintain a large boat.

Good luck on your boat hunt!

http://www.sailboatlistings.com/photographs/65243

alctel · 09-05-2017, 11:17

can you palm off at least 5 of the kids onto grandparents or something

Kenomac · 09-05-2017, 11:22

That's a lot of boat for the money. But don't forget about about the emergency fund, and good luck finding financing on a boat of that vintage. No finance company will touch it, you'll need to do a home equity loan.

**skipmac** · 09-05-2017, 11:49

Quote:

Originally Posted by Kenomac

That's a lot of boat for the money. But don't forget about about the emergency fund, and good luck finding financing on a boat of that vintage. No finance company will touch it, you'll need to do a home equity loan.

Certainly an issue. To finance an older boat one would need some serious security (like home equity) or a super credit rating which generally comes down to owning some kind of assets, investments or guaranteed income.

Barbar0ssa · 09-05-2017, 12:38

Thanks for taking the time to respond. There is an awful lot I don't know and I appreciate the input of those with more experience.

Quote:

Originally Posted by Kenomac

Any emergency fund beyond the $20k for the down payment? What about healthcare costs?

Assume health insurance and emergency fund for cruise ending emergencies are covered. Repair emergencies are not. Waiting for $25k for emergency repair fund means delaying another year. I don't want to be foolhardy, but at some point I'd rather try to buy in good condition and end before 6 months if something goes terribly wrong. How much would you budget for maintenance for a 6 month cruise?

Quote:

If you're planning to finance this adventure beyond the $20k down payment, I'd say forget about it. It's going to cost you a minimum of $3,000 per month beyond the cost of the boat and repairs, just for the basics for nine people... including the newborn. Food, clothing, fuel, water, healthcare, insurance, customs fees, mooring fees, etc.

The normal living expenses I know how to budget. The cruising specific ones I have to learn to estimate. Once I have a realistic idea of what everything will cost a month, I'll save till I have 6X that amount.

Kenomac · 09-05-2017, 12:51

Quote:

Originally Posted by Barbar0ssa

Thanks for taking the time to respond. There is an awful lot I don't know and I appreciate the input of those with more experience.

Assume health insurance and emergency fund for cruise ending emergencies are covered. Repair emergencies are not. Waiting for $25k for emergency repair fund means delaying another year. I don't want to be foolhardy, but at some point I'd rather try to buy in good condition and end before 6 months if something goes terribly wrong. How much would you budget for maintenance for a 6 month cruise?

You can easily burn through $25k immediately following the purchase of a used boat trying to get it ready for your specific needs and repairing deficiencies.

The normal living expenses I know how to budget. The cruising specific ones I have to learn to estimate. Once I have a realistic idea of what everything will cost a month, I'll save till I have 6X that amount.

Yikes! It doesn't sound as if you have any savings beyond the $20,000 down payment.... for a boat no finance company will finance especially one older than a few years. Sorry, but you're nowhere near being ready for something like this. Best to charter for a week or so. If you have trouble affording a charter for 9 people, then you can't afford what you have planned.

Tkeeth · 09-05-2017, 13:58

http://www.sailboatlistings.com/photographs/65243[/QUOTE]

nice boat for the money

Barbar0ssa · 10-05-2017, 07:47

Thanks everyone for the feedback! I really appreciate the help. I'm obviously so new that I don't know what I don't know but your feedback has left me with a few questions.

1. Are bow berths potentially dangerous?

2. How new must a boat be to get financing? Would a boat coming out of charter be financeable? I guess I should call a financing company.

3. It seems like any boat you buy, no matter the condition or price, requires a large amount of work to be ready to go. I was thinking more like real estate where you could buy a fixer-upper or you could buy a house ready to go. Am I understanding this correctly?

4. Can you set up long charters? From what I've seen, my $20k will cover maybe a month of chartering.

Tkeeth · 10-05-2017, 08:03

Quote:

Originally Posted by Barbar0ssa

Thanks everyone for the feedback! I really appreciate the help. I'm obviously so new that I don't know what I don't know but your feedback has left me with a few questions.

1. Are bow berths potentially dangerous?Possibly,
definitely not as comforatable

2. How new must a boat be to get financing? Would a boat coming out of charter be financeable? I guess I should call a financing company. This is not an easy answer. In general a newer boat will have a greater chance of finance, but a ready to go new boat is very expensive, an older boat in great condition may not go through. Most Credit unions etc. will loan up to 15 yrs old and 100K. with excellent credit and 20 to 30% down. Never owning a big boat is detrimental to owning a big boat...then there is the insurance issue. Never having a boat also means increased rate. My first year was almost 3K and I had hell getting it for that

3. It seems like any boat you buy, no matter the condition or price, requires a large amount of work to be ready to go. I was thinking more like real estate where you could buy a fixer-upper or you could buy a house ready to go. Am I understanding this correctly?Yes, all relative to age/price

4. Can you set up long charters? From what I've seen, my $20k will cover maybe a month of chartering.

Yes, you will likely need an ASA cert and/or 6pack unless you charter with crew. Depends on season and boat and location, but I'd say about 1 month. boat only.