Living on a sailboat?

Question

I was born and raised in Cape Cod Ma. I've spent my whole life living by the sea and couldn't imagine living any other way. I have finished my military commitment and have now decided to make my living as a Merchant Mariner. My dream is to save every penny for the next 5 yrs and use that money as a down payment for a Sailboat. I was thinking along the line's of a 50 to 55 FT Bristol or something similar. Then, I'd like to live on her whenever I'm not out to sea and keep her moored year round somewhere down on the Cape and Island's. My main concern is to whether or not this is financially feasable. Would my boat payment's and mooring fee's, be fairly comprable to that of making mortgage payment's on a house? Could anyone give me their personal experience's with this? Thanks.

Answer 1

as a Mass native, I moved south to the Islands 30 odd...some of them VERY odd....years ago and have been living aboard sailboats ever since, so......

there are literally thousands of live aboards in the Caribbean, some passing thru, many permanent residents looking for a cleaner and cheaper way to live rather than ashore.....so yes it's very doable...

up in America, land of Rules and Regulations, you will find it hard to find a harbor / marina where you can live aboard. so start researching that NOW......I have one friend who waited 5 years for a summer only mooring in Chatham......

ice damage is a very real consideration up there, especially if you are going to be gone on long deployments and aren't there to start the bubblers in a hard NorEaster freeze

fees and payments should be about what you would pay for a house.especially with the insane market in real estate on the Cape....

50-55 feet? You are looking at a half million or better......and that's a LOT of boat to handle for one or two people..most cruising folks down here find 40-45 is just fine in terms of ease of handling and room to live on a store cruising gear and supplies........not to mention its 150-300 less a month in dockage and hauling fees!

Get some friends and spend the money to come to the Virgin Islands this winter and charter for a week....get a feel for how a big boat sails, how to live aboard, talk to people who are doing it.......

God luck.see you in the islands! and Go SOX!

Answer 2

The planning for this is not too hard. You can find out how much sailboat you can afford to pay for in the 50-55 foot range. Look at prices and find out how much you would have to borrow and figure out the monthly payments from there. I assume there are several different places to moor the boat and you can call the Harbormaster and tell them you plan to live aboard. Ask what the current price per foot to moor this size of yacht would be and add that to your monthly figure. Make sure that they have shore power and water for the boat included in it. The boat has to be pulled from the water and serviced on a regular schedule and have painting the bottom and checking the rigging etc. This has to be figured into your cost. Hauling the boat is pretty expensive and can't really be overlooked. The other really important thing to check out before you buy is that the bottom of the boat is free of Gel Coat blisters. You would want to have the boat surveyed for problems with the fiberglass because these blisters on older boats cost ton's of money to fix if present. Add up all of the costs and see if it is affordable for your income. Check on the price of a condo and see if the costs are comparable and then make your decision.

Answer 3

Using St. Petersburg as a reference; livaboards are charged an higher slip fee than weekenders ($15-20/ft). A fifty-footer could run $1000/mth. Private marinas will be higher. The higher fee assumes an higher electric and water usage. Depending on the marina, sewage services may not be available. St. Pete Muncipal Marina provide paid washer/dryers and mail box services. Florida does not have to worry about ice. You may have to dry store your boat in the winter. You should make a weekly "what I have to do to live" list and compare the cost, conveinence, and ease with a house, apartment, and boat. In the long term, a house is the best investment. After paying over $12k keeping the boat in the water, you gain no equity. Besides money, the next hurdle is living in a confined space. I've been on many small boats and large ships. They all get very small over time. Are you and any future love interest willing to live in less than 500 sq ft? Work it out on paper before committing to the expense. Good luck.