# Buying the boat and cruising kitty



## GCASKEW (Aug 24, 2011)

We are in the process of deciding on Mono/Multi hull type boat we want to get. Once we decide the style then it's time to find the actual boat.

If you have $250,000 in your kitty to buy the boat, refurb/refit if needed and then still have money in the kitty for repairs and cruising for about 5 years before we start having to use our retirement, what is the usual ratio to spend?

Do you spend 50% on the boat, 25% for refit and then the rest for cruising?

I hear/read stories of people that buy really nice boats, cruising for 4 or 5 years and then running out of money. We want ot crusie till we are too old or feeble to continue, I don't want running out of money to cause us to swallow the anchor.

I'm kinda leaning toward something like a Gemini 105MC in the $100k to $125k range. Throw in a watermaker AC and make all other needed repairs, estimated amount of $25 to $30k max. 

This would leave roughly $100k for cruising and repairs for about 5 to 7 years..

Does that sound about right or do I have it weighted to heavy in one direction or another?

Or do you try to buy new/newer boat and have less in the kitty for cruising?


Thanks


----------



## sww914 (Oct 25, 2008)

More in the kitty and less in the boat is better. It goes really fast when you're spending on boats and a lot slower when you're spending on tacos. You can get to the same beautiful anchorages in a $30000 boat as you can in a $300000 boat.


----------



## Skipper Jer (Aug 26, 2008)

This is a really depends type question. Are you going to check into a marina every night,
dine ashore, fly home every month, talk up a storm on the sat phone, ect, ect.
What about excursions ashore, port fees, where do you intend to cruise? I hear Europe is expensive while Mexico is reasonable. Like I said, it depends.


----------



## ParadiseParrot (Oct 6, 2010)

There are many threads covering "Cost of Cruising" already. And as for retiring then assuming you have some type of pension it is unlikely you will "run out of money" as cruising area and style can compensate for income.
The one thing that will cause the MATH to go wrong is TOO MUCH BOAT.

The recommended budget for a initial refit is 20% to 30% of sale price of boat given a sound boat was purchased to begin with. How much work you do yourself , What you feel you need before going etc etc.

10% of boat value per year maximum is generally considered a good figure to cover boat costs including haulouts and repairs , upgrades etc.

A Gemini is not considered a world cruiser although I assume some with have done it.
Using a vessel at its edge as far as use will generally rack up larger repair bills.

A new boat will have no radios watermaters solar panels inverters or any other toys.
Although your repair and refit money will be pushed off some time the depreciation on a new boat is rapid and steep.

The current thinking on refit is not to install to much stuff.
Cruise for awhile before going all out on expensive complicated systems.
You may have no use for them but they will break and need maintenance non the less.
SSB and Watermakers come to mind for some cruisers.

The Caribbean is not going to have issues of water or weather info options including local TV/radio weather and everyone at every island will have water to drink and the sea water in harbour the water may not be pure enough to use anyway.

Weight on a small cat will also be an issue for you to think about.

You did not say what area you will be cruising in but I don't think you are too far off the mark fiscally given prudent use of the kitty.


----------



## GCASKEW (Aug 24, 2011)

We will be cruising the Caribbean and the Bahamas. We will be living on the hook most if not all the time, with very few marina visits. That is why we are looking at watermaker, solar and wind generators in the refit. 

So it looks like the 50% boat, 25% refit and the balance left for cruising and repairs looks good so far.


----------



## orthomartin (Oct 21, 2006)

ParadiseParrot is spot on. In 2007 we purchased a Moody 46 for 500k, put another 120k in the refit. Sailed it about 27,000nm including 2 years in the expensive med. Annual costs turned out to be about 10%/year, in our case about 50-55k/year. Now if (unlike me) you are very handy and do work yourself you can probably cut that down about 3 or 4%.
We have several friends we have met cruising with similar numbers (percentage wise). We also however have friends sailing an older Baba35 that keep their monthly costs including repairs under about 5-6hundred usd/mo while in Bahama's. Where you sail makes a moderate difference.

We are now on a cat and for living I highly recommend two hulls. Not a big fan of the Gem's however. In the price range you are talking look at the Lagoon38. One of the most successful productions ever for team Beneteau. Easy to maintain and fairly simple systems. Another good option if you don't mind going a bit older is the PDQ. And yes these modern cats are very very safe and ocean worthy!


----------



## Skipper Jer (Aug 26, 2008)

For cruising on a cat and expenses incurred take a look at bumfuzzle | living, sailing, procreating


----------



## GCASKEW (Aug 24, 2011)

Read the blogs and bought the kindle book... Those kids were much younger and lived higher than we expect to do.. Cook most nights on board like we cook most meals at home. Some good rum and coke and a few meals on the hard and we are good to go...

From what I am reading and blogs and everything else.. A monthly budget of $1500 a month appears to be more or less accurate, excluding the unexpected boat repair. We are going to leave $25,000 in an emergency account that is not with the monthly cruise kitty.


----------



## ParadiseParrot (Oct 6, 2010)

I have to agree...the Bumfuzzles didn't watch the cash too close as the young ones spending mostly OPM do.


----------



## GCASKEW (Aug 24, 2011)

But, I'm still getting their blog sent to me..lol They are on a big Mono now with two kids. I just want something that gets me there, easy to sail and live on and the wife and I can point it at a new beach from time to time.


----------



## wingNwing (Apr 28, 2008)

In generally the same price range as you, we chose a little less boat and more spending cash. Although remember, there's no wrong answer here, just different. Ours is an older monohull, and we're both fairly handy. Our detailed monthly budget for southeastern US and Bahamas is here: Life Afloat Archives: Cost of Living ... Afloat


----------



## Barquito (Dec 5, 2007)

One thought: Two hulls have two of a lot of expensive stuff. I would love to have the space, but can't afford a cat (so I will stick with the dog I have)


----------



## smurphny (Feb 20, 2009)

There's a psychological divide between "vacationing," (which all the people around you are doing) and just being on your boat for an extended period of time. IMO, you need to get it clear in your mind what combination of these very different goals you fall into. Expenses don't really need to be more than they are ashore if you do not get swept into "vacation" mode which is very easy to do. If you dine out all the time, spend a lot of time swilling down drinks with little parasols, pay for spas and souvenir trinkets, it will cost just as much as if you (stupidly) did these things at home--a lot. Pretty simple. Spending significant time on the boat and not going broke means paralleling the same basic lifestyle you do ashore, on the same budget, but in a lot less space!. It really is akin to camping out in any small (<65') sailboat but with more adventure, skill required, and risk. The amount of money spent is really in direct correlation to what your goals are. If the sailing is why you are on a sailboat, wind is cheap and food cooked on the boat tastes good. If it's vacationing, socializing, and rubbing elbows with the rich and famous that are paramount to your happiness, those things are more expensive. Everyone's budget will be different. The important thing is to have one that is well thought out and projected many months in advance.


----------



## sailortrash (Sep 1, 2012)

dean 44 in great shape for about 200k use the rest to cruise


----------

