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Old 24-01-2024, 12:55   #1
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What it cost to have and use boat for 84 months

So I will be getting out of boating and going to dirt soon. Part of that is understanding how much I can spend on dirt living so I am comparing it to boat living. I am on month 89, but am going to use the first 7 full years as a basis. I figure I know how we lived during that 7 years and if we spend the same amount on our dirt dwelling we basically live the same.

So for 7 years the cost of boat maintenance, repair, upgrades plus fuel, marina, electric, registration, and insurance works out to an average of:

$1399.62/mo

If I factor in the purchase cost of the boat less the agreed value I expect the insurance is going to payout it becomes:

$2054.38/mo

Thought maybe those currently living on land and thinking of switching to boat living might find it of use.
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Old 23-02-2024, 07:30   #2
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Re: What it cost to have and use boat for 84 months

so unusual this thread got 0 posts
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Old 23-02-2024, 07:32   #3
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Re: What it cost to have and use boat for 84 months

Thanks! I find this type of info very encouraging for my future plans. This was east coast US/bahamas primarily?
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Old 23-02-2024, 07:50   #4
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Re: What it cost to have and use boat for 84 months

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Originally Posted by sailorboy1 View Post
so unusual this thread got 0 posts
Discussing cruising costs is discussing financing a lifestyle. More like discussing the cost of a cruise or vacation.

Discussing income and expenses for life is just 'personal finances' and seems so much more taboo.

I'll bite. What's next? rent, own, cohabitate with relatives?

Is there a cautionary tale about liquidating appreciating assets for depreciating assets and the inevitability that we almost all tie the lines back up eventually?

Not being a smartass. You asked
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Old 23-02-2024, 08:06   #5
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Re: What it cost to have and use boat for 84 months

I'll bite. Assuming you have $2000 a month to live on land, what you will need for comparison is a waterfront condo, house or apartment with about the same living space as your boat. I would say 400 or so square feet?

Probably the smallest comparison is a 1 bd condo or apartment, unless you can find a tiny home.

Now to find a waterfront 1 bd apartment or condo...

You may find water/power/sewer/insurance plus rent of a 1 bd waterfront apartment to eat up a lot of that $2000 a month in some real estate markets.
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Old 23-02-2024, 08:08   #6
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Re: What it cost to have and use boat for 84 months

Well, to start off...depends if you buy or rent a place ?
Right there is typically a big chunk of money.....I'd say $2,000/month average.
Then comes real estate taxes, condo fees, if this is where you end up, insurance, etc., probably, $2-3,000/annum, maybe more.
Electric and Internet service probably $300/month.
You'd need to set aside some $$ for maintenance....new stove..fridge....a/c, etc.
You'll need a vehicle or two to get around, that has a cost.

Adding it all up, yes, living on a boat at a marina is likely less $$$ by a large margin....

Difficult to pin this down as there are so many variables.
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Old 23-02-2024, 08:30   #7
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Re: What it cost to have and use boat for 84 months

Quote:
Originally Posted by Shrew View Post
Discussing cruising costs is discussing financing a lifestyle. More like discussing the cost of a cruise or vacation.

Discussing income and expenses for life is just 'personal finances' and seems so much more taboo.

I'll bite. What's next? rent, own, cohabitate with relatives?

Is there a cautionary tale about liquidating appreciating assets for depreciating assets and the inevitability that we almost all tie the lines back up eventually?

Not being a smartass. You asked
We sold our land house asset 7+ years ago and put the money into the market. Where it made WAY more than it would have as a house.

We are looking a buying a house here in Jacksonville Fl. The are fully redone 2-3BR house here for $150-2000K. On the $150k house after $50k down it would be about $1100/mo aft P&I, taxes, insurance, and utilities
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Old 23-02-2024, 10:11   #8
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Re: What it cost to have and use boat for 84 months

Depends on where you chose to live in J'ville I Guess. Real estate is not my bag so can't offer any opinion there. I know that closer to the beach the price goes up substantially. I understand J'ville Beach properties go for north of $500K these days for a simple 2-3 BR house.
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Old 23-02-2024, 10:25   #9
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Re: What it cost to have and use boat for 84 months

We live in the other side of the state in near St Pete. Our house is paid for as is our car. We live comfortably but not extravagantly. Our joint expenses run around $4500/mo which includes insurance, taxes, food, repairs, travel, medical, etc. We go out to dinner when we are inclined.

We've been slowly moving our boat from California to Florida so our land expenses are near zero (taxes, utilities, garbage, sewer, etc.). Cruising in Mexico isn't too expensive. I'd say we're still close to the $4500/mo number even though we're cruising.

I don't see $2000/mo in our future. But it may be how it's calculated.
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Old 23-02-2024, 14:29   #10
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Re: What it cost to have and use boat for 84 months

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Originally Posted by mvweebles View Post

I don't see $2000/mo in our future. But it may be how it's calculated.
That is boat costs plus deprecation only. No food or anything else.
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Old 23-02-2024, 14:37   #11
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Re: What it cost to have and use boat for 84 months

Many useful posts, thanks to all.
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Old 25-02-2024, 12:20   #12
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Re: What it cost to have and use boat for 84 months

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That is boat costs plus deprecation only. No food or anything else.
There has been some interesting analysis by a reporter with the WSJ lately comparing rent vs purchase of a home. Due to price increases in real estate, his best thinking is that the balance has shifted more towards rent. It's a good analysis that includes investing of down payment, recovery of real estate agency commission, maintenance, taxes, etc.

On the other had, depending on your age but if over 60 or so, a traditional 30-year mortgage will outlast your reasonable lifetime so argues in favor of purchase.

My wife and I have been kicking around 'whats next' as we work our way south to the Panama Canal. One thing we're sure of is we wont buy. We'd rather rent a few months in a location then move on. We really like Mexico, but Portugal is also on our radar. Either are cheaper than the US.

Good luck with whatever you decide.

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Old 29-05-2024, 12:09   #13
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Re: What it cost to have and use boat for 84 months

Quote:
Originally Posted by sailorboy1 View Post
So I will be getting out of boating and going to dirt soon. Part of that is understanding how much I can spend on dirt living so I am comparing it to boat living. I am on month 89, but am going to use the first 7 full years as a basis. I figure I know how we lived during that 7 years and if we spend the same amount on our dirt dwelling we basically live the same.

So for 7 years the cost of boat maintenance, repair, upgrades plus fuel, marina, electric, registration, and insurance works out to an average of:

$1399.62/mo
So we brought a 85 year old brick 2 bedroom 1 bath 1350 SF house. After a $50k downpayment out payments including insurance and taxes is $1174/mo. We currently are paying $25/mo internet and estimate based on out daughters house here we will pay about $200/mo on electric/water/trash.

So that is $1399/mo, same as what the boat was really costing.
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Old 29-05-2024, 14:31   #14
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Re: What it cost to have and use boat for 84 months

Quote:
Originally Posted by sailorboy1 View Post
So we brought a 85 year old brick 2 bedroom 1 bath 1350 SF house. After a $50k downpayment out payments including insurance and taxes is $1174/mo. We currently are paying $25/mo internet and estimate based on out daughters house here we will pay about $200/mo on electric/water/trash.

So that is $1399/mo, same as what the boat was really costing.
Looks like you paid too much while on the boat since you were in Florida and the Bahamas where everyone goes and everyone down there can see you coming.

Up here, you can get a slip for anywhere from $5.00 -$6.00 per foot per month near the city or $500 a year out in the boonies.

Also, most of us that are retired or near retirement have a paid off house, paid off boats, plus our vehicles are paid off as well.

I actually got lucky while still working and lived 12 years in Pensacola, Florida and raced sailboats for 10 of those years.

During our 100 miles races, we used the high rise condo cranes as land marks when we were sailing the 55 mile offshore leg out in the gulf. This was in the mid 1990's on as they built these condos for the retires that would soon come.

I thought I was in heaven at first, but then after 5 years are so not so much.

Also, it is sweltering in Summer in Florida these days.

In the 90's, it wasn't too bad, but it kept getting hotter as the years passed.

I switched to cycling and running more in 2006.

The bad thing about Florida is you don't get to experience the seasons like we do up here, but most folks don't find that out until they live there for a while and usually that is after retirement.

I got back into sailing again when I bought my present boat a Bristol 27 in 2011 up here.
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Old 29-05-2024, 16:09   #15
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Re: What it cost to have and use boat for 84 months

stopped reading once the usual "I want to talk about me" started

you have NO experience knowing what living and cruising on a sailboat is or the costs involved!!!!!!!!!!!!!!!!!!!

BTW I cruised way more than Florida, but even FL is way more than you by 100s of miles
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