How Much Sailboat Should I Buy?

[sameagle13]

Apologies, I realize this is probably answered somewhere else but I have worn out the advance search function trying to tailor it to my scenario. I'm sure someone on this site fits my situation; just wanted to see if there is a realistic option for my spouse and me.

We are a frugal couple that has enjoyed sailing a small catamaran for a couple of years but we feel it's a little too small to live on full-time. We would like to live on our pension of $24K annually and not disturb our investments. The sailboat I buy will be fully paid (NO NOTE). Our goal is to live and cruise the Caribbean (Central/South America and Islands). We would like to have enough room for the grown kids to visit on occasion. I realize the bigger the boat, the more maintenance costs grow. So, I guess what kind of boat would fit the estimated budget below?

Annual Boat Maintenance & Insurance: $6,000
All other Living Expenses(Annual): $18,000

[denverd0n]

Living expenses depend almost entirely on the lifestyle you want. You can't live on $18,000 per year if you want to stay in posh marinas, dine at 5-star restaurants, and so on. You can live on almost nothing, though, if you are willing to make the necessary sacrifices.


Maintenance and insurance depends on the boat, how much work you can do yourself, and what sort of coverage you want.


I think you're getting the cart a little before the horse here. The first question is, what is your budget for buying and outfitting the boat?

[Pete17C]

forum members sailorboy1 and Cthoops have been posting their monthly expenses, search for posts by them and you can see what it is costing others

[thinwater]

It seems to me if you've been sailing an Endeavor cat you know far more about your living and health care expenses than we do.


The real question is how much does international travel affect this?

[sailorboy1]

Originally Posted by sameagle13

We would like to have enough room for the grown kids to visit on occasion. I realize the bigger the boat, the more maintenance costs grow. So, I guess what kind of boat would fit the estimated budget below?

Annual Boat Maintenance & Insurance: $6,000
All other Living Expenses(Annual): $18,000

Get a boat you will be comfortable on!!!!!!! The larger boats costing more is only if you are comparing say a 27' boat to a 60' boat. The difference between a 36' and 42' are going to be very minor in the big picture. The bigger factor for the maintenance costs are going to be the condition of the boat, how and how much you use it (staying in 1 spot for months isn't as hard as doing a 1 week passage), and how good a DIYer you are.

I would recommend a boat 42-46', that's the sweet spot I feel to get a good cruising boat for a cruiser with good tankage etc. I'm sure the small people will go crazy now, but people rarely say to themselves "I wish I had a boat that was 2' smaller.".

[sameagle13]

So, I probably should have left the living expenses out of the post. We have lived overseas before and have researched a lot of the discussions already. The Endeavour Cat we have is a little small for long term living and are interested more in what boat a maintenance budget of $6K would support. I am guessing a larger catamaran is out of the question...Or? Just would like to actually stand up in the salon.

[sailorboy1]

I feel I responded to your question. The size isn’t the issue to your budget question.

[sameagle13]

Sailorboy1, yes you did, thanks. I think that range you mentioned will work just fine. I just wanted to make sure $6000 a year would take care of a boat that size for Caribbean cruising. I don't have the live aboard cruising experience yet to accurately estimate maintenance for an actively cruising sailboat. If you experienced guys told me we could do no more than a 30 ft or less on a mere $6K maintenance budget then the spouse and I were going to have to substantially adjust some goals. I understand maintenance is not a fixed cost; just want to ensure I'm setting an appropriate amount aside for the appropriate sailboat. Really appreciate all the responses and different considerations from everyone who responded.

[newhaul]

Originally Posted by sameagle13

Apologies, I realize this is probably answered somewhere else but I have worn out the advance search function trying to tailor it to my scenario. I'm sure someone on this site fits my situation; just wanted to see if there is a realistic option for my spouse and me.

We are a frugal couple that has enjoyed sailing a small catamaran for a couple of years but we feel it's a little too small to live on full-time. We would like to live on our pension of $24K annually and not disturb our investments. The sailboat I buy will be fully paid (NO NOTE). Our goal is to live and cruise the Caribbean (Central/South America and Islands). We would like to have enough room for the grown kids to visit on occasion. I realize the bigger the boat, the more maintenance costs grow. So, I guess what kind of boat would fit the estimated budget below?

Annual Boat Maintenance & Insurance: $6,000
All other Living Expenses(Annual): $18,000

Actually IMO it comes down to a simple answer.
As big a vessel you can comfortably afford to maintain.

[JPA Cate]

I really respect the desire to be comfortable on the boat. However, the boat you have, set up the way you want her, is almost always the most reasonable to go cruising on.

Just a comment, though, fwiw, I would not plan on spending my total pension each year, you'll really need some investments going to at a minimum keep up with the rise in the costs of living. If you can save 10% per year, or more, it will be a real blessing later on.

Ann

[GordMay]

Greetings and welcome aboard the CF, sameagle.

[Benz]

I could easily live and cruise the Caribbean on that budget, but my style is toward maximum simplicity: minimum systems. Once you start adding generators, air conditioners, refrigeration, power this and power that, you start adding $$$ not only to buy but to maintain. I could keep a 50' boat a lot cheaper than many could keep a 32', just because I wouldn't fill it with expensive things.
So get the boat that seems properly roomy, and after the essentials (cookstove, engine), add only those things, as time goes by, that comfort requires or budget allows.

[Boatguy30]

10% of you net worth seems a decent max. 6k isnt much budget if you're also buying full civer insurance. If you keep to the 10% likely will be comfortable without insurance.

[sailorboy1]

Originally Posted by Benz

Once you start adding generators, air conditioners, refrigeration, power this and power that, you start adding $$$ not only to buy but to maintain.

I bet the past 2 years of full time cruising the cost of maintaining these things are:

- generator: $120 and most of that was because I didn't clean the strainer and blew the exhaust hose out
- air conditioning: $10 the past 7 years for standard intake filters
- refrigeration: $45 for filters I installed on the condenser intake and just yesterday to replace the mechanical thermostat with a digital one
- power this and that: $220 to replace macerator pump each year because it's real important to be able to pump the tank

Cost of the enjoyment of having these things: Priceless

Not exactly budget busters in the big picture are they?

[Boatguy30]

So $120 per to barely maintain, plus fuel, plus rebuild replacement in X?? Years. Spread over every year it eats into that 6K pretty good!