Msida Marina, Malta
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How Much Money Do You Need To Live on a Sailboat?
People often romanticize the idea of living on a sailboat. To many of them, this means watching endless sunsets from the flybridge, living smaller and simpler, saving money. Nevertheless, even though this lifestyle sounds exotic, you need to know how much does it cost to live on a sailboat. That’s why it is best to be prepared for the realities of what it takes to move and live on a boat. For that reason, here are some things you need to know before you start living on a sailboat, it’s always a good practice to rent a boat for a week or month and see if you like that.
Can You Move Abroad if You Have a Slip?
You cannot. Even if you decide to retire on a sailboat, most marinas require an application for you to move abroad permanently. In some areas, living on a sailboat is not permitted or there are long waiting lists to achieve the status. Liveaboard slip fees are usually higher and your insurance rates may increase if your boat becomes your home. If you have pets, it may be hard to sneak aboard on a regular basis.
Sailboat Costs
So, how much does it cost to live on a boat? In order to know the exact amount, you need to take into consideration a few things.
- Cost of the boat
How much does a sailboat cost? In most cases, the cost of living on a sailboat full time will be your biggest expense. So this will depend on the boat and if you are going to buy project boats and fix them up by yourself. If you do that, you can save a lot of money than buying a new boat.
- Insurance
Paying insurance isa part of the cost of living on a boat. However, prices can range all over the place. The most affordable quote can start from $1,800 USD for full coverage and also $500 a year for liability. When it comes to insurance, prices vary drastically depending on what kind of boat you have, how old the vessel is, the captain’s experience, and the area you want to travel.
- Documentation
Part of the sailboat cost is documentation as well. The cost of this also depends on many factors. The requirement to be registered within the state, or if you plan on staying in one state for more than a 90-day period for instance. So those costs are just a plus.
- Maintenance
You can’t figure out the full cost if you don’t calculate the maintenance as well. The general support may include water pumps, fuel filters, belts, exhaust hose, oil, coolant or in some cases a replacement of the autopilot motor or a paint job.
- Dockage and Fuel
Prices for the dockage can either be $0 USD or up to a few hundred dollars a week. This depends on if you want to stay securely tied up to a dock or anchored. When it comes to fuel, how much you will spend on that will depend on how often you are traveling and if you travel by the wind.
- Food and Phone/Internet
One of the things you have to take into consideration when thinking about living abroad is the food, as well as the phone and internet connection. Calculate how much are you spending on food, do you cook at home and do you eat more healthy food. And speaking of the phone and internet connection, it would be just as if you were living in a house. The only difference is that you will almost certainly need an unlimited data plan since your phone will also double as your internet hot spot.
