Hello:
I have enjoyed reading your story. I am filled with envy but happy and pleased to see two people living life to the full.
I have so many questions. I am at the beginning. I have just purchased a 42 foot Lagoon, 2008. It is currently in the BVI. It was in charter. It needs some work but not too much.
First. Finances. How much does one need or allow to call it quits and go cruising ?
Congratulations on your new boat! We also bought ours in BVI out of charter.
The first thing to note is that a charter boat is a very bare boat. If you are going to live on board you will inevitably want to be adding new ‘stuff’ – both in terms of equipment and safety features, and just comfort features. See our page on home improvements to see some of the things we have added. All this stuff makes the first year pretty expensive – but really this should be factored in as part of the purchase price.
Beyond the first year things get cheaper. Indeed, some people told us that the first year you buy a heap of stuff, and then the second year you start throwing stuff out again! How much you spend depends on your lifestyle. If you like to park in marinas and eat out ever night, it gets pretty pricey. If you prefer anchorages (we do), and entertain yourselves, then it is pretty cheap. Food is about double the cost in the Caribbean than it is in USA. Clothing is cheap, as you don’t wear any! No matter how long you have your boat, there will always be things that need to be fixed, so make sure you have an allowance for that. The more you move your boat, the more that will need fixing. If you anchor in Prickly Bay, Grenada for six months (as many do) then your expenses will be minimal (just food and drink, really).
So, ball park? I would say that you will probably spend about 50 – 100% what you normally spend at home, excluding your rent / mortgage. I would guess that your car expenses will pay for your boat repairs, and then it is just your daily living expenses you need to cover. But there are LOTS of discussions about this whole subject on the forums.
Hope that helps somewhat!
Don’t be afraid to ask – everyone is a beginner at some point, and everyone has countless tales of adventures of when they got it wrong!
I was pointed to your note on flying a spinnaker and noticed you have a 42. We just purchased a 2005 43 in Cartagena, Spain and are about to begin a multi-year cruise. We will peruse your website and learn from your experiences. Please introduce yourselves if we ever cross paths. We are S/V Harmonia flying a Stars-n-Stripes. Meanwhile,
Fair winds.
Welcome to the cruising life! You will love the 43. We were in Cartagena last winter. We are probably headed to Greece and Turkey this year, so if you happen to pass by, do let us know!
Hello:
I have enjoyed reading your story. I am filled with envy but happy and pleased to see two people living life to the full.
I have so many questions. I am at the beginning. I have just purchased a 42 foot Lagoon, 2008. It is currently in the BVI. It was in charter. It needs some work but not too much.
First. Finances. How much does one need or allow to call it quits and go cruising ?
Anthony
Congratulations on your new boat! We also bought ours in BVI out of charter.
The first thing to note is that a charter boat is a very bare boat. If you are going to live on board you will inevitably want to be adding new ‘stuff’ – both in terms of equipment and safety features, and just comfort features. See our page on home improvements to see some of the things we have added. All this stuff makes the first year pretty expensive – but really this should be factored in as part of the purchase price.
Beyond the first year things get cheaper. Indeed, some people told us that the first year you buy a heap of stuff, and then the second year you start throwing stuff out again! How much you spend depends on your lifestyle. If you like to park in marinas and eat out ever night, it gets pretty pricey. If you prefer anchorages (we do), and entertain yourselves, then it is pretty cheap. Food is about double the cost in the Caribbean than it is in USA. Clothing is cheap, as you don’t wear any! No matter how long you have your boat, there will always be things that need to be fixed, so make sure you have an allowance for that. The more you move your boat, the more that will need fixing. If you anchor in Prickly Bay, Grenada for six months (as many do) then your expenses will be minimal (just food and drink, really).
So, ball park? I would say that you will probably spend about 50 – 100% what you normally spend at home, excluding your rent / mortgage. I would guess that your car expenses will pay for your boat repairs, and then it is just your daily living expenses you need to cover. But there are LOTS of discussions about this whole subject on the forums.
Hope that helps somewhat!
Don’t be afraid to ask – everyone is a beginner at some point, and everyone has countless tales of adventures of when they got it wrong!
Noel
I was pointed to your note on flying a spinnaker and noticed you have a 42. We just purchased a 2005 43 in Cartagena, Spain and are about to begin a multi-year cruise. We will peruse your website and learn from your experiences. Please introduce yourselves if we ever cross paths. We are S/V Harmonia flying a Stars-n-Stripes. Meanwhile,
Fair winds.
Hi Larry and Lynda,
Welcome to the cruising life! You will love the 43. We were in Cartagena last winter. We are probably headed to Greece and Turkey this year, so if you happen to pass by, do let us know!
Noel & Ceu