LiveBoard Annual Costs (need advice, Help:)

[Kurt_Pollett]

Hi Guys,
I'am currently in Sailing School and looking to do a Stink of "Living Aboard" for a year or two. I know with Boats buying it is the easy part. Running it is really what it's about.
Here the deal, I'm not actually buying the Yacht as a toy but actually as a home for ?? amount of time. Now I worked out that the amount of Rent that I pay + Housing expenses is $40,000Aussie/Year. So that 40K most of which is going to the Landlord can theoretically go into my "Boat Fund". I have the Luxury of being able to work from my Yacht because my Business is all "Cloud Based" and where I plan to be there is 'Wifi' Coverage,)
(Suppose I bought a 42" Beneteau/Bavaria for $140,000Aussie)
Question1:
"What should I budget for per annum on Repairs, Maintenance, Running etc?" (don't worrying about Mooring or Berthing costs, I have them,)
There is a saying that you should budget 10% of purchase price. would that mean for the above that 14,000/Year seems about right?
Question2:
"Are there any secrets to keeping costs practically down?"
Questions3:
"Where are the biggest expenses?"
Question4:
"Has any other 'Liveaboards' out the ever worked online whist living on a Yacht, do you have anything to say about that?"

- Boys your feedback would be awesome! Thanks a lot and Happy Sailing! Kurt

 

[temptress]

This gets asked about once a month. Do a search and then we can discuss specifics here later.

 

[AndrewB]

Sorry if we seem a bit unhelpful, Kurt_Pollett, but you are running into response-fatigue on the question of how much does it cost. The last long thread, which you may find useful, is here: http://www.ybw.com/forums/showthread.php?392259-Can-you-do-it-on-£1k-a-month. As Temptress says, take a look at that, and then see if you can frame questions more specific to your needs.

On Q4, my answer is yes, it's really no different to working from home anywhere.

 

[[2574]]

This gets asked about once a month. Do a search and then we can discuss specifics here later.

As this is such a frequent question I've been considering the merit of posting a poll(s) on which contrubutors can record their annual costs. Then as the data sample increases it (presumably) would take on the characteristics of the normal distribution curve but at least it would establish a "benchmark" against which people could assess their own budgets. The problem is that one mans poverty is another's luxury so inevitably there will be a good deal of subjectivity. I've been thinking that maybe the poll questions should perhaps be twofold: 1) what is your annual budget ("annual budget" would need to be defined) and 2) do you consider that your budget provides for a a) meagre, b) comfortable or c) extravagant lifestyle. Inevitably those terms would also need some loose definition.

Some effort would be needed to compose the poll and someone with better knowledge that I to create the poll but I think it might be a worthwhile point of reference once it had twenty or thirty data samples. I know that is tiny in statistical terms but surely it would start to have some substance?

Is it worth the effort.

(apologies to the OP for thread drift but as has been said above this is a repetitive subject and we could do with a better foundation for a reasoned response to the question. All future enquirers could then be referred to the poll. At least thats my thinking.

Rob

 

[temptress]

Rob

IMO it's too subjective and complicated for such an approach. The answer is.... It depends on.......

 

[AndrewB]

Rob

IMO it's too subjective and complicated for such an approach. The answer is.... It depends on.......

Yes. There are three distinct groups of liveaboards here:

1. Those living full-time on their boat in a marina in their home country, generally UK;
2. Those living and cruising part-time aboard a boat in the Mediterranean (or Caribbean) for X months per year;
3. Long distance blue water cruisers living full-time aboard while travelling but with occasional trips home.

Occasionally we also have:

4. The really impecunious type wanting a minimalistic lifestyle anchored up some isolated creek;
5. People interested in true residential moorings (who are referred to the Thames forum).

The needs, and costs, for these groups are very different.

 

[Tranona]

Question1:
"What should I budget for per annum on Repairs, Maintenance, Running etc?" (don't worrying about Mooring or Berthing costs, I have them,)
There is a saying that you should budget 10% of purchase price. would that mean for the above that 14,000/Year seems about right?
Question2:
"Are there any secrets to keeping costs practically down?"
Questions3:
"Where are the biggest expenses?"
Question4:
"Has any other 'Liveaboards' out the ever worked online whist living on a Yacht, do you have anything to say about that?"

- Boys your feedback would be awesome! Thanks a lot and Happy Sailing! Kurt

Costs are in three broad categories.

First is berthing costs which for many is the biggest single cost, but is hugely variable depending on the type of berth and its location.

Second. Repairs and maintenance. This depends on how good your boat is in the first place and then how much you use it. A boat in good condition, berthed most of the time is likely to need minimal expenditure. Older well used boat sailed and motored hard could be a money pit. Biggest costs on a mainly residential boat are likely to be in the domestic equipment as much is not designed for continuous use. However, if only one person using it then wear etc is much less.

Third. Subsistence costs. Essentially no different from living on land.

How to keep costs down? Don't spend money you don't need to. Buy the best boat you can afford and avoid a "project" - again no different from buying a house. The simplistic x% is just that - simplistic.

Many people work on line from a boat - probably easier than having conventional shore based employment. If you can earn enough to live well on land you can afford to live on a boat. The limiting factor for most people (at least in UK) is availability of a suitable berth, not the cost of owning and running a boat.

 

[BigJoe]

Hi,

Not live aboard full time yet but know heeeeeeps who do.
Hear in my tuppens worth..........

1 grand a month.... Can be done, know lots who do,it and they are having a great time.
2 grand a month...... Get to eat out more and can travel about hire car etc.
3 grand a month....... Can go to expensive restraints, and drink Caveat
4 grand........... Champagne lifestyle etc......

We're planning somewhere in the middle.....