Help in picking boat and expenses.

[Mennominnow]

I am hoping to buy a blue water capable boat and have lots of questions. I have experience on powered fishing boats from my youth and a fair amount of sailing experience on small sailboats on lakes and estuaries but very little open ocean experience. I recently retired and want to fulfil my lifetime dream of living on my own sailboat. I would like to do some chartering to help defray ongoing expenses. I am hoping to have a budget of about $25,000 for the boat and am working on the budget for additional expenses. The main thing I am having trouble estimating before actually having the boat is the insurance cost. I would appreciate any and all help with estimating likely insurance costs as well as advice on picking a boat.

[Vasco]

The insurance cost will depend on your experience, the age and condition of the boat, and where you intend to sail. In addition, if you intend to charter, (not too viable with a boat in your price range) your insurance costs will skyrocket.

[Mennominnow]

Thanks for responding. I assume that you are meaning I need to spend more on the boat to get something newer, better, more upscale in order to attract charter clients.