If you’ve been reading ESI Money for any length of time you know that I love the Caribbean.
We have been there a handful times (three on cruises and twice on trips to Grand Cayman).
If it was up to me, we will go there at least once per year for the rest of our lives.
And by “up to me” I mean that I am planning at least one trip there per year. 😉
In addition to my love of the Caribbean, you also know that I’m fascinated by the thought of retiring on a cruise ship. It’s still something I would like to give a try. But that’s a no-go from my wife.
But what about going a bit smaller? What about buying a boat, living on it, and sailing it around the Caribbean? Is that reasonable? And what would it cost?
It’s something I’ve pondered for some time now, but has recently popped into the forefront of my thinking.
It Starts with an Excursion
This “dream” (if you can call it that) started many years ago. We took a cruise to escape the Michigan winter.
The sequence of events went something like this:
- It was approximately 80 below zero, 12 feet of snow on the ground, and we had seen six months of winter by the time January rolled around. (Ok, maybe a bit of an exaggeration, but I’m going for dramatic effect here.)
- We booked a cruise to the Caribbean to escape the cold.
- On the cruise we took several excursions (one at each port).
- Of these excursions, we loved catamarans the most (my daughter and I would get on the front, feet hanging over the edge, and water splashing in our faces as we sailed.) Haha to the suckers in Michigan!!!
Once back home I considered going back to the Caribbean but this time renting a catamaran (with a captain).
My wife didn’t like the idea so we put it on the back burner and took another cruise the next year.
But the idea did not leave my mind…
RV Living Goes Sailboat Living
The idea of living/sailing on a ship had almost perished from my thoughts when my interest was suddenly renewed.
My friend, Michelle, from Making Sense of Cents gave up her RV living for what????? Yes, a catamaran!
What? That’s a thing? People actually live on a boat? (And by boat I don’t mean those nasty houseboats on the Mississippi River back where I’m from.)
I mean a very nice boat. In the Caribbean.
I guess I always knew that some people did this, but I was clueless that many did.
And now someone I knew was doing it!
Obviously I was intrigued and asked if she was going to document her experiences on video. But since she already makes $19,927,345 a minute on her blog (or something close to that), she doesn’t really have any incentive to do it.
Still…I’m holding out hope.
But she did share links to several people who are recording their lives living on catamarans.
So for the past few months I have been watching YouTube videos on the subject.
Let’s take a look at a few of my new “friends”…
Sailing La Vagabonde
The first is a video blog titled Sailing La Vagabonde.
In case it’s not clear, La Vagabonde is the name of the boat. 😉
Anyway, this series is done by an Australian couple (+1 for the accents) who produce videos of their catamaran life.
The videos are very professional (+2) and always include cool music (+3).
And the combination of an attractive and charming woman (+4) with a stud of a captain (+5, you should see the videos of him deep diving and spear fishing, the guy is a beast!) makes their videos fun, entertaining, and educational while also showing great Caribbean scenery.
Here’s a recent video of theirs (warning: if you watch this, you’ll likely find yourself spending the next 4-5 days reviewing back episodes):
Gone with the Wynns
The next video blog is titled Gone with the Wynns. Haha! Big bonus points upfront for a cute title!
This 30-ish couple is sailing all over creation and sharing their story.
They are very friendly people, the sort you’d want to have as neighbors — especially since that would mean you’re in a great location as well!
They also have cats on board, which makes for some funny video moments.
I watched them cross the Pacific Ocean in their catamaran (yes, you read that right — they did it) and I was on the edge of my seat with every video!
Can you imagine crossing the PACIFIC OCEAN in a catamaran????!!!! I was afraid they were going to be hit by a 50-foot wave, lose power, run out of food, or any one of a number of calamities that seemed imminent. I tell you, I think I was more happy for them to see land than they were.
Here’s the episode from the end of that trip:
Sailing SV Delos
I’m not sure what’s going on with the gang from SV Delos.
There are several guys and girls, somewhat of a rotating cast (or so it seems), in their 20’s, sailing all over creation together.
Imagine a college fraternity and sorority got together and decided to sail. That’s a bit of what SV Delos seems to be about.
I have no idea what their off-camera antics entail, but I bet it’s crazy.
The on-camera stuff is mild and full of great scenery, exotic locations, and lots of sun and water.
Here’s a typical episode:
How Much Does It Cost?
Now that Michelle’s got me watching all these sailing video blogs, I started to wonder about the finances.
What does it cost to live on a boat and sail it around?
The answer is not as easy as you might think.
Why is that?
Well consider this question:
What does it cost to live on land?
As you know, there are a gazillion answers to that question based on lifestyle choices and a ton of other factors.
It’s the same with living on a boat.
For instance: Do you want to live on a multi-million dollar yacht or a dinghy that’s the water version of camping in a tent?
Your choices make a HUGE difference.
But I still wanted to get a “general” sense of what it would cost, so I did some googling.
Costs of Living on a Boat
To no surprise, the main costs of sailing boil down to two things:
- Buying the boat
- All the expenses of running/living on the boat
Let me share some of the resources I found that detail these costs (at least in part) and make some comments along the way.
We begin with this video that (of all things) tells the financials behind Sailing La Vagabonde:
- Cost of boat: $119k Australian (about $83k US dollars as of this writing)
- Cost of other expenses: Uh, weak on details here other than “they do not spend as much as it seems at first sight” and “they earn money due to the monetization of their video channel.”
Yeah, I’d say they earn money alright. They currently have over 600k YouTube subscribers.
In other words, they are not hurting for funds.
Next I found an article on Business Insider.
This couple spent $150k on a boat, then moved it to San Diego where:
In an average month, it costs them around $2,200 to live on the boat.
By comparison, they would spend $2,500 to $3,000 to rent an apartment in a similar area of San Diego, and still be paying the boat’s mortgage on top of that.
Ok, so that’s if you want to live on the boat and not sail it. A bit different than what I was looking for but still adds to the general topic knowledge.
Let’s move on to this video where a couple details their costs:
Down in the comments there is some gold. Namely this:
Budget $52K USD per year to live full-time, well done if you spend less.
Turns out this seems to be on the high side of things…moving on to this video:
There are different budgets and different styles of cruising – you can spend from $500 to $2,000+ dollars per month while sailing. We give you the tools to calculate your own cruising budget, because you need to find a budget that works for YOU.
Their actual costs: between 500 and 700 Euros a month ($560 to $790 US dollars).
They also give this advice: to lower expenses, be as self-sufficient as possible.
In other words, you can save a ton by anchoring in a harbor versus at a marina, creating/using your own energy, catching your food, etc.
Even More Information on Sailing Costs
Now let’s go into the lightning round.
I’ll simply post titles, links, and summaries:
- How Much Does It Cost To Live On A Boat???: Costs them $1,040 a month
- Living On A Sailboat in the Caribbean in 2017: The Cost: $1,000 to $2,000 a month
- Real cost of living on a sailboat: $500 to $3k per month
- Our Cost of Living: Sailing Around the World (Dana Greyson): $1,500 to $2,500 a month
- Top 10 Aspects of Living on a Boat: $460 a month
- Cruising Budget for the Third Year on a New Catamaran: $32k per year
Lots of information here and quite a spread on costs.
So What Does It Cost to Live on a Catamaran?
The short answer to “what does it cost?” is “it depends.”
But let me try and wrap it all up into a somewhat cohesive set of conclusions:
- I am surprised by the costs. Both the initial boat expense plus living costs are waaaaay lower than what I thought they would be. I’m not sure what I was expecting but my image was that it was an expensive lifestyle. And yet the reality appears to be quite affordable.
- Once you think of it, the costs being low are not really that surprising. These people are living in the equivalent of a 200 square foot tiny house. Those aren’t that expensive on land either.
- On the low end, on-going costs seem like $500 a month. On the high end as much as $50k per year. I’m sure we’d be on the higher end since that’s just how we roll. But even at the top (within reason) it’s completely affordable — and would probably save us money versus living where we do now. However the boat would be much smaller than our house. 😉
- Given this, I wonder if “retiring to a catamaran” is an affordable option for those struggling for retirement funds. Maybe it’s better (as cost effective or even less expensive) than moving to a low cost of living city or foreign country.
In the end I think this is an exercise in futility for me. While I might consider this as a lifestyle option, my wife still has flashbacks of the cruise where we had 25 to 30 foot waves. She gets seasick just thinking about that. So I’m not likely to be sailing around the Caribbean anytime soon.
But…I still have hope that we could rent one for a week and see how we like it. Ha!
Anyone out there have a boat and/or ever want to sail/live on one? I’m hoping you can share your stories and tips with the rest of us.
Tim says
Need to check out bumfuzzle. Start see the beginning, you’ll be hooked for weeks.
Ms. FOGO says
I love being on boats so I completely get where you are coming from. One of the main perks of Florida is being able to go on cruises a lot for discounted prices. 🙂
Retiring on a boat is definitely doable. I know your wife won’t go for it, but hopefully you get more cruises in your future.
Great post!
Tom Short says
One boat-living idea that I find interesting is doing the Great Loop. No, it’s not really sailing (although some “loopers” are, in fact, sail boats). And it’s not focused on the Caribbean (although the Great Loop can include a stint through it). What it is, is a loop that includes a trip down the Mississippi River, the Florida Intercoastal waterway, Everglades, and possibly the Keys, East Coast shore hopping up to the St. Lawrence Seaway, all the way back to where you started (hence Great Loop).
Usually this trip is done in a 40-50’ power boat, although sailboats have been used. There is a website devoted to Loopers, including stories, ads for Looper boats for sale that have already been set up for the journey, and budgets. Here is an article about the budget that might be of interest to those who want to learn more: https://www.greatloop.org/content.aspx?page_id=2507&club_id=574480&item_id=921&pst=4906&sl=969106252
Steve and Monique says
I have been a live aboard boatie for 14 years now and my wife has spent last 8 of those with me. A single dad for first 6 years on my launch and when I met my wife she wanted to give it a go and we bought a yacht and now on our second one, a Beneteau 40. My wife who by the way gets sea sick when it’s rough, refuses to stop living aboard as the adventures we’ve be had, the peace the quiet the nature is all she wants. It’s way cheaper than living in a house. I have done many yacht deliveries around the country to get my adrenaline fix. We live in NZ 50 knot winds not uncommon. Plan your trips bad ones become rare. We have made good money on each boat, buy wise get professional advise get a survey. I still prefer a mono hull over a cat
Keiran says
Hi, could you elaborate on your comment a little please “We have made good money on each boat, buy wise get professional advise get a survey. “ Is it best to buy in one area and sell in another ? Any advice would be much much appreciated
Michelle Schroeder-Gardner says
Fun post! Some of these numbers are a little off- La Vaga is actually a $1,000,000 catamaran. Their monohull is what is quoted in that piece you mentioned above – not their latest boat.
Also, a lot of people don’t talk about the actual refit costs, and that’s where a lot of the boating costs add up quickly.
I haven’t met any full-time boater who says that boating is affordable. BOAT stands for Bust Out Another Thousand 🙂 I’ve met several people in the last year who have quit sailing because of the costs, and have moved back to a land base.
Boating can be done for cheaper, but I find that’s not the average boater.
Michelle Schroeder-Gardner says
The person commenting above is the first I’ve heard say that it’s way cheaper, haha. But, he’s a liveaboard in NZ so that is different.
Mark says
Regarding La Vaga – as it turns out, one of the executives at Outremer followed them for a long time and had the idea of getting them in a cat. They made some sort of special sale that made it possible (so not nearly $1,000,000) and Outremer gets endless publicity from the videos.
Steve says
My co-workers (married) retired and purchased a $1.4M catamaran about 10 years ago with the intention of it being their forever home, as they were both avid sailors. Lived in Panama for a few months to really learn the boat and then sailed to San Diego with a couple friends. Stayed a few months before sailing back to Panama, selling the catamaran, and moving back to the Bay Area. Too much isolation away from family, and too much stress to have someone awake at all times on overnight sails and too much stress with the constant repairs.
Definitely not a life that I would choose.
Phil says
So many naysayers on here, and most of them are so ill-informed. A decent sailboat can be picked up for cheap, and you can cruise the Caribbean for next to nothing. You didn’t mention Sailing Uma on this page, but you should have, because they are the best example of this. They bought their boat for 3000 dollars, spent 10k to fix, and at 13k, went sailing. They are something like 5 years in and doing wonderful, and spending a FRACTION of what you would on a house over that same period of time. Do your research folks. Living on a boat is not only affordable and doable, it’s cheaper than most home living, and it allows you to travel and experience a million more things. Is there some expense? Yes, but just do the numbers. If you are frugal, there is no possible way that a house will be cheaper than living on a sailboat. None.
AD says
True, but the difference is income.
On land it is easier to make money in the more conventional ways. Some cannot adapt to a freelancing style of income. So, though it is significantly less expensive by the numbers, especially when you add up ongoing maintenance and large periodical repairs, upgrades/expenditures etc. for both. (Even land based people do not usually truly take into account the true cost of home ownership and “deal with it” when something happens)
The reality is that you still have to have the appropriate funds to cover maintenance and living costs. No matter the lesser” by the number” expense.
Stefan Jerkander says
There is a Finnish saying that says: Nothing is too expensive for the boat! ?
Donna S says
Gosh if you were to decide to do this, (and I understand your spoise’s concern) it would be fascinating to read your blog entries on how you go through the entire process of researching boat; buying boat and tailoring it to your style.
ThomH says
We’ve gone through this thought process with both boats and RV’s in mind numbing detail, but ultimately we enjoy our house, nice hotels, and resorts way too much. (That…and my wife says something like…”Oh hell no…!” ?)
So we compromised this year! We just returned from a full month in the Florida Keys where we rented a nice house (AirB&B) and a boat for the month of March. We loved it so much, that we are already planning two months there next winter. Never saw myself as a snowbird type, but hey…it was pretty dang awesome! We plan to throw in a couple of cruises to the Carribean, and we are planning a road trip to Acadia, Maine and Nova Scotia, CA this summer. IMO, why be locked in to one option, when you can have it all?
Phil says
“IMO, why be locked in to one option, when you can have it all?”
For me, and for the majority of the people living the U.S.A., it comes down to money. Unless you are approaching the 1% tier of wealth, it’s just not affordable to be a snow bird and vacation all over the place, PLUS pay for an expensive house. The majority of Americans can’t even afford the outrageous rent prices in America, let alone a house, a mortgage, or the expensive of snow birding. The people that are choosing to live on boats are the same people that are choosing tiny houses and R.V. life, and they are choosing it because it is a more affordable option.
Minimal Millionaire Mom says
Love Gone with the Wynns! I believe they are currently in the South Pacific. Last year I traveled to American Samoa. The Wynns haven’t been there yet, but I’m hoping they visit. Watching their videos reminds me of being there…especially the color of the water. And the whales.
Marek Roznerski says
Yacht vacation to a great thing.
I love to spend time alone by the water and I often use this type of vacation.
I live in Poland and I have my yacht here. Sasanka 700 😀 maybe not to big but very nice for alone weekend or small trip with friends.
My dream is to go to the Caribbean or Greece for a yacht trip with friends.
it is really a great thing to spend time together and take a break from everyday life. recommend
Soon-to-be-retired says
One of the problems you’ll note with many of these is they are not showing you their boat maintenance or fuel costs. That can really add up quickly. i.e. I hit a rock while sailing last weekend. Its a min $300 haul out fee followed by whatever the cost is to repair. But with that said we still love it and plan on taking a year to do the great loop and eventually the even greater loop around the world when we are finally able to retire. I would guess a realistic budget for us would be around 75-100k a year which would include side trips and travel home every 3-4 months to stay connected to family and friends.
Mike says
Thanks for this post. In 5 minutes it satisfied my curiosity and showed me this is not the life for me!
Mike says
I have given some thought to purchasing a slip (in the Carolina’s around $25k + about $1800/yr yacht club fees) living aboard and using that as my hub. Some of these yacht clubs are surrounded by nice shops, restaurants with live bands, etc.. You wouldn’t need a car as most tourists bicycle around anyway helping to lower your monthly costs. I’m just digging into more of the details, but have met an 80 year old woman who enjoys this lifestyle and she’s not wealthy. So many ways to skin a cat.
eric chang says
researching on this topic this week. Got the exact same conclusion like yours… wife had seasick… ha ha
but I think it is worth trying some time later. maybe not for long term, but for a year or 2, that would be nice, as a resume of life.
JessieG says
I loved this post. I hope you’ll try it for a couple weeks or a month sometime in the future and regale us with your sailing adventures.
RichardV says
I loved this post as well. I have had to pleasure in meeting several couples and even families living this lifestyle in both the med, Asia and Carib. It is fascinating. I’ve also come to the conclusion that generally speaking the lifestyle seems to be cheaper than living on land. You sacrifice the space, but make up with excitement, adventure and living with nature. It is something I’m seriously considering as a lifestyle for a few years. If I manage to create a stable passive income I would go for it.
Trey says
Great information, but it is hard to compare *reality* with some of the sweetheart deals some of these vloggers get from sponsors, Patreon donors, or other sources of income. I would love it if someone handed me a $1M catamaran to essentially advertise their brand! IMO: Anyone thinking of doing this should get a more affordable monohull that is well found with little to no deferred maintenance, newer sails, newer or engine in great condition = a good starting point. Then I figure $20k per year (after taxes) as the base funds required. FWIW, Gone with the Wynns are the most annoying couple I have ever had the misfortune to watch on YouTube. Some of their content is informative, but damn.
Dalton Bourne says
For those who are asking the question “How to live on a sailboat full time?”, the best answer is to create a consistent plan and stay organized. Should look for a sea with stable weather conditions. You should pay special attention to wind direction, as well as tidal waves, make sure you find a dock to dock your boat or a place on land where you can stay in inclement weather.