How to know I'm ready for my dream boat

[FishCake]

tldr: how much does it cost to maintain a 43" alimiunium cruiser like this annually while cruising?

Hello everyone. I've been sailing my entire life (pretty much) and have about 20000nm behind me. mostly in blue water and decent weather. I haven't been in many storms and none that I would term really large.

I bought my first boat last year, It's a 31 foot fiberglass sloop. Boat ownership is quite different than crewing and I am learning a huge amount. So my Wife and I have realized that we do want to continue this life, she likes it (which was my major worry).

My major dream for sailing is to explore placens that are really remote, high latitude places and my current boat isn't a high latitude cruiser. I not sure if I should continue on my current boat or commit to a high latitude cruiser now. In purticular a boat that seems to tick all the boxes of a boat I want is - https://www.yachtworld.com/yacht/199...ar-43-9033364/

It's in my price range (I have enough money for it, barely).

I am still pretty young (30) and this will exhaust pretty much all of my disposible money so I am worried I am not finacially ready for it. I also I am not sure if I have the know how to maintain it yet. I guess I will learn.

To me this boat looks like a great deal and it's beautiful. But am I too early in my boat owning career to own such a big boat. Also I need to build hours and miles in more gnarly weather. I guess just passage plan badly on my next trip and go when the weather isn't great haha

Anyway, I really want to buy this but at the same time this amount of money is really no joke. I also haven't got much information about Dewar boats. I can't find much about them on the internet.

[Don C L]

I don't know anything about that boat but it looks like the kind you should be shopping for. You'll be living aboard, right? Usually the advice is something like spend 2/3 on the boat and have 1/3 left over for the "stuff" that you'll probably need. That will depend on the condition of the boat and how well the boat is already equipped. But from my experience I tend to think of "do I have the cash flow" to make this work, not, "do I have enough money to buy this boat?" Will you have an income that will be sufficient for maintaining you, your wife and the boat, and your savings account, as you travel? Any plans for kids in the future?

A good question to ask here is "how much does it cost to maintain a boat like this annually while cruising?"

[FishCake]

Originally Posted by Don C L

I don't know anything about that boat but it looks like the kind you should be shopping for. You'll be living aboard, right? Usually the advice is something like spend 2/3 on the boat and have 1/3 left over for the "stuff" that you'll probably need. That will depend on the condition of the boat and how well the boat is already equipped. But from my experience I tend to think of "do I have the cash flow" to make this work, not, "do I have enough money to buy this boat?" Will you have an income that will be sufficient for maintaining you, your wife and the boat, and your savings account, as you travel? Any plans for kids in the future?

A good question to ask here is "how much does it cost to maintain a boat like this annually while cruising?"

thanks Don. these are all very insightful points.

- I don't have the money currently for the 2/3 rule.
- I do have some cash flow and usually have around $1500 a month left over after expenses.
- We are not having kids

your good question to ask is great and probably summarises my entire story into the important bit. I will edit the post.

[trswem]

I can't help you with the boat, but I will bring your attention to booking a passage with 59 North. It's not cheap, but I think the experience may be worth the investment. If I was planning to spend time sailing the northern latitudes, I'd probably start with a trip from them. It's what they special in, they have the gear for it, and I think you'd learn a lot. I'm sure there are other outfits doing the exact same thing, but I'm familiar with them, and they have a fantastic podcast. Good luck, keep us posted!

[Wavewacker]

Sorry, but you won't like my opinion.

Never take all of your budget and throw it into any boat.

While you could most likely adapt going from 31 feet to 43 feet, you'd need the confidence to make it happen.

I would never buy a boat off the internet sight unseen, never, especially knowing that most boats are for sale, if not today, they will be soon. At that dollar amount I'd suggest you get a prospective boat surveyed.

Where will home base be? What are the dock/mooring fees for a boat like that? All boats need maintenance, older boats more so, just keeping that boat could eat up $1,500 a month.

What's the insulation like on an aluminum boat?

[FishCake]

I think that is a good point about putting pretty much everything I have into a boat. that's not really financially responsible...

I've seen the boat and been on it. and I loved it. I would definetly get a survior before I buy it.

My home base will be somewhere in the windward islands of the caribbean for at least a year. I don't ever dock and have never actually went to a marina. but you are right everything is way more expensive as a 40 foot boat.

The insolation is good on the boat apparently, and the diesel heater apparently works really well. the previous owner wanted to do the North west passage in her but got too old.

yeah, I think you are rigt about my just not having the money. I think it's likely it would eat up all my money (unless I am lucky)

[Foswick]

I would echo the advice about spending most of your budget on the boat purchase. I disagree with the 2/3 rule. I don't think that is adequate to allow for all of the expenses that actually pile up. I recommend to spend no more than half of your budget on the boat purchase unless you REALLY know what you're doing.

There are two reasons for this:

First, there are some jobs you can do inexpensively and/or DIY. But, some jobs are just going to be expensive and you can't really skimp. When you buy the boat, you know what some of the jobs are going to be, but in the first year, jobs will come up that you did not plan on. You don't get to decide whether those surprise jobs are the good kind (cheap) or the bad kind (expensive). So, while 1/3 of the budget MIGHT cover your needs, it would do so only if you are not unlucky.

(A thorough inspection and a good survey reduces this risk, but it comes nowhere close to eliminating it.)

The second reason is that logistics can really add up too. That is, people don't always factor in all of the haulouts, paid lay-day storage, etc. that is required. This money can easily exceed the cost of the repairs themselves, in many cases.

The good news is that there are plenty of good boats for sale at half this price. Since this isn't your first boat and it sounds like the Dewar strongly appeals to you, the fact that there are good boats for less might not matter - if this is THE boat for you.

What I would suggest is that you offer $60,000 (USD) and see what they say. If you are prepared to move forward quickly with that offer, you might be surprised at how willing they are to take it.

[rbrazil]

Originally Posted by FishCake

tldr: how much does it cost to maintain a 43" alimiunium cruiser like this annually while cruising?

Hello everyone. I've been sailing my entire life (pretty much) and have about 20000nm behind me. mostly in blue water and decent weather. I haven't been in many storms and none that I would term really large.

I bought my first boat last year, It's a 31 foot fiberglass sloop. Boat ownership is quite different than crewing and I am learning a huge amount. So my Wife and I have realized that we do want to continue this life, she likes it (which was my major worry).

My major dream for sailing is to explore placens that are really remote, high latitude places and my current boat isn't a high latitude cruiser. I not sure if I should continue on my current boat or commit to a high latitude cruiser now. In purticular a boat that seems to tick all the boxes of a boat I want is - https://www.yachtworld.com/yacht/199...ar-43-9033364/

It's in my price range (I have enough money for it, barely).

I am still pretty young (30) and this will exhaust pretty much all of my disposible money so I am worried I am not finacially ready for it. I also I am not sure if I have the know how to maintain it yet. I guess I will learn.

To me this boat looks like a great deal and it's beautiful. But am I too early in my boat owning career to own such a big boat. Also I need to build hours and miles in more gnarly weather. I guess just passage plan badly on my next trip and go when the weather isn't great haha

Anyway, I really want to buy this but at the same time this amount of money is really no joke. I also haven't got much information about Dewar boats. I can't find much about them on the internet.

Hello FishCake,
Let me take the opposite approach from the rest.
A. You have the money.
B. Your wife is down.
C. You are both young and adventurous.
D. That looks like a bad-ass boat.
E. You’ll figure it out as you go.
Life is short! Most people wait too long, thinking they need to save more, work more, yada, yada, yada. Go for it!
Your question is very difficult to answer. Boats ALWAYS have something to fix. Boats ALWAYS cost more than you think, yet look at all of us boat owners who’ve figured it out. Join the ranks!

[sailorboy1]

it cost my wife and I this much for our 41' the last 7+ years

[Foswick]

I think I would revise my response just a little bit because I tend to agree with rbrazil. It is never the right time to get married, have a kid, or buy a boat. You just do it and sort it out.

But, I think a better follow-up question would be to know how long it will take you to come up with the other $50k or so that you will likely want/need in the first year. That's a rhetorical question - no need to answer.

My point is, if you spend the $100k, and you will never have that kind of money in again in the foreseeable future - almost certainly it would be costly mistake. But, if you can come up with another $10k - $20k per year for at least the first few years with the boat, it starts to look doable.

Still, I would offer much less. I don't know if the boat is worth more or less, but you know what you can afford. I have seen boats asking $100k that took the first $20k offer that came along.

[FishCake]

The replies on this post have been pretty incredible to be honest. Incredibly thought through, thorough, and kind. I think there are an incredible amount of really good points here.

I'm still not sure and I guess that is good, a decision like this should be thought through for awhile. Thank you for all the additonal information you all have given me

[NorthCoastJoe]

I had the chance to take off when I was 30. I did not do it and have kicked myself in the ass many times. Do it while your body is good, you never know what is coming for you. I am a x firefighter/paramedic and met a lot of people who wished they made the jump sooner to go.

Worst case you fix it up and travel have fun then when you're done sell it.

[jerryf609]

Regarding surveys. Dont get a survey on boats as part of the shopping process. Once you do settle on this is the boat we want including inspecting the best you can
Then get the survey.

[merrydolphin]

looks like a nice boat. If no major electrolysis or corrosion problems. And a good survey. Getting into a “new” boat especially when going up in size and complexity can be daunting. But I have done it. Scary at first, but the adventure and learning is part of it. And as you go out to sea, your boat shrinks amazingly fast. I went from a 33’ simple sloop to a large complex 46’ ketch. Scary at first but very glad I did it.

[Dr.No]

FishCake, this boat looks like a VERY good deal. I suggest that you PM me to get a phone number to discuss it. I am still heavily involved in the refit of an Alubat Cigale 16. I was at the RCYC in Cape Town in March and did not see this vessel in their 350 slip marina. That marina had the largest quantity of aluminum sailboats that I have run across, all suited for world cruising. Some thoughts on your choice: she is probably under annoded - there are formulas to check that; the protruding, very outdated depth finder transducer is a liability; she will need some necessary, probably minor refurbishment - sails look a bit tired, but are still serviceable, etc. Cheers!