Boat Life vs. Land Life: What Does It Really Cost?

It’s Not About a Million Dollars – It’s About Courage

The most frequently asked question I get is: How much does it cost to live on a boat? The short answer? It’s impossible to give one definitive figure. Every person’s circumstances, lifestyle, and boat setup are different.

I’m not like you, and you’re not like me. My backstory is as unique as yours. I don’t have kids or responsibilities tying me to Germany, which gives me more freedom. I know families who sail with their children and make it work, and the kids seem to thrive in this lifestyle! Honestly, I would have loved growing up like this.

Another question I hear is: Is it too late for me to start? Absolutely not! Most cruisers I meet are retirees well past their 60s, with some even approaching 80. If you’re healthy and adaptable, you can absolutely live this lifestyle - no matter your age.

What I can tell you is that living on a boat doesn’t require being a millionaire. It takes courage to leave your land-based comfort zone and a willingness to downsize and embrace a simpler life. Boat life can be as affordable or luxurious as you want it to be.

To give you a clearer picture, I’ve broken down the expected expenses for living on a boat. Let’s dive into what it truly takes to make boat life a reality. (All prices are shown in USD unless marked otherwise).

The Initial Investment: What Does It Take to Buy a Boat?

You don’t need to spend a fortune to get started. There are seaworthy boats under $20,000 USD, and even less if you’re willing to put in some work. I know people who bought their boats for $5,000 and others who own million-dollar catamarans. That’s the beauty of this lifestyle - there’s a boat for every budget.

When buying a boat, the initial investment varies depending on:

• The condition of the boat
• How equipped it is for liveaboard life
• The size and type (monohull vs. catamaran)
• The location of the boat

Tip: Start small to keep costs low, especially for maintenance. The smaller the boat, the less you’ll spend on antifoul, repairs, insurance, marina fees and regular upkeep. I also highly recommend getting a survey before purchasing. It’s an expense well worth paying, as it can save you from costly surprises if there are hidden issues with the boat.

How Do I Afford It?

The Honest Truth About "How I Afford It"

Whenever someone asks me how I afford this lifestyle, I’m tempted to respond, “How do YOU afford your lifestyle?” Because at the end of the day, the mechanics of it are the same: I work, I budget, and I spend money on what matters to me. So, how do you afford it? You choose to!

It’s not about magic or luck - it’s about priorities. Everyone has the same 24 hours in a day, and we all make decisions about where our time and money go. For me, living this boat life is a choice, and it’s a lifestyle I’ve designed around what matters most. And just like anyone else, I make sacrifices in some areas to make room for the things I truly value.

Here’s my story:

I lived off savings for the first two years. I worked hard, saved diligently, quit my job, and sold everything I owned. Fully committed to this new lifestyle, I reduced my possessions to just two suitcases and moved aboard a 38ft Hallberg Rassy. Over those two years, I lived aboard and sailed nonstop, significantly building my experience and skills. By the end of that period, my total logged nautical miles reached 8,000, which included sailing the Mediterranean and crossing the Atlantic Ocean. When I eventually started looking for crew positions - two years after beginning this lifestyle and living off my savings, I was skilled and confident, making it easy to find opportunities. By then, I had also decided I wouldn’t return to land life or my previous career.

I transitioned into crew work. After my Atlantic crossing, I sailed the Lesser Antilles during cruising season and spent hurricane season in Grenada, where I built a close circle of friends. One of them needed crew, and I jumped at the opportunity while actively searching for my own boat. Simultaneously, I started my own business, which I can run remotely, and I love having an office with a view.

Teaming up to share costs: Another great way to afford boat life is to team up with friends, family, or a partner. I’ve done it myself on a 38ft Hallberg Rassy with my boyfriend at the time. Sharing the costs of boat ownership - marina fees, maintenance, and upgrades - reduces financial pressure and makes the experience more accessible. I also know people who’ve teamed up with friends, siblings or their parents to buy their first boat.

Learning before you leap: Before selling everything and diving into this lifestyle, I took sailing classes. Even if it’s just on a lake near your home, it gives you the confidence and basic skills to get started. For more details on how I learned to sail and to get practical tips on how you can begin your journey, check out my blog post.

If you’re adventurous, you can even gain experience by crewing on an Atlantic crossing. The Atlantic Rally for Cruisers (ARC), which sails from the Canary Islands to the Caribbean every November, is an excellent place to find opportunities. While some boat hitchhikers join with no experience, I highly recommend at least taking some sailing classes beforehand.

Starting small and working up: Many people buy inexpensive boats - typically priced anywhere between $5,000 and $50,000 (although higher is always possible if you can afford it) - and live aboard in a marina while keeping their day jobs. They gradually refit their boats, learning and saving as they go, and eventually set sail when they're ready. It’s an excellent way to ease into the lifestyle without quitting everything at once.

The key isn’t just having savings - it’s being determined, resourceful, and willing to start wherever you can. Sack up, find your ovaries, get brave, and GO! 😉 You can’t imagine what your life might look like if you just take the leap.

Once you’re out there, the opportunities are endless. Surround yourself with the lifestyle you desire, and you’ll find ways to make it work. Many sailors fund their adventures through remote work, and my friends Greta & Michael from When Sailing share tons of great tips about income sources and making money while sailing over on their Instagram @whensailing. They’ve also put together an insightful e-book, Boat Finances: 3 Years of Sailing in Numbers $, where they break down their personal expenses from three years of living aboard and actively sailing around the world as a couple. You can check out their e-book here.

Monthly Living Expenses for Liveaboards

Living on a boat requires a different mindset than land-based life. While there are some fixed costs, there are also ways to minimize expenses. Here’s a breakdown of the necessary and optional costs for living aboard, with tips to help you keep your budget manageable.

Necessities: What You’ll Definitely Need to Pay Monthly

Groceries:
If you focus on eating locally produced food, you can expect to spend $100–$150 USD per week per person. This includes fresh produce, rice, fish, vegetables, and meat. Imported goods will add to this cost, especially in remote areas.

Boat Insurance: You can choose between third party liability and full coverage.

Liability Insurance: $75-$150 per year (depending on boat size, age and area)
Full Coverage: $500-$5,000 per year, depending on the boat’s value and the type of coverage. (Not including multi-million-dollar yachts here)

• Boats between 30-40 feet: For boats valued below $50,000, you can generally expect full coverage insurance to cost between $500 and $1,000 annually. For boats valued around $50,000 to $75,000, you might expect to pay approximately 1.5–2% of the boat's value annually for insurance.

• Boats between 40-50 feet: The insurance premiums for these boats can vary from $1,500 to $3,000 annually, depending on the value of the boat and the owner's experience.

• Boats between 50-55 feet: Larger boats, particularly those valued over $100,000, can cost $2,500 to $5,000 annually for full coverage. The price range can increase based on additional coverage options, like liability, theft, or environmental damage.

• Boats over 55 feet: For boats larger than 55 feet, especially those valued between $250,000 and $500,000, full coverage can range from $5,000 to $10,000 annually or more. The price can vary based on the type of boat, location, and other factors. As you can see, the cost increases significantly with every additional foot of boat length!
  

Health Insurance:

For international health coverage (excluding the USA), plans typically range from $500–$1,200 annually. Make sure your insurance covers emergency care, hospital stays, and any specific needs based on your sailing areas.

Water:

Filling your tanks typically costs between $5–$20, but this can vary depending on the region. If you have a watermaker, you can filter your own water, which can be a cost-effective option in the long run and allows you to be more self-sufficient.

Starlink (Optional):

If you plan to work remotely, having reliable internet is crucial. Starlink’s setup costs about $600, with monthly fees ranging from $100 to $400 depending on the plan and location. This investment is worthwhile for those who need constant internet access on the go.

Phone Plans:

I currently use a fantastic plan from Martinique that gives me 100GB of data for just 35 Euros, and it works throughout the Caribbean and Europe. There are also options with more data if you need it. This could be a great alternative to expensive satellite internet options like Starlink, especially if you don't rely heavily on internet access. Keep in mind that phone plan costs and coverage vary by region, so it's worth checking what offers are available where you plan to sail.

Chartplotter (Navionics):

A chartplotter is an essential piece of equipment for navigation. I use Navionics, which provides detailed and reliable charts for the areas I sail in, from the Caribbean to the Mediterranean. With Navionics, you only pay for the area you sail in. For example, I paid $49.99 USD per year for the Mexico, Brazil, and Caribbean region, and I use it on both my phone and iPad. Prices can vary depending on the area and device, but Navionics offers a cost-effective solution compared to traditional chartplotters. It’s a great way to have up-to-date, accurate navigation data, especially for remote or less-charted waters.

Diesel and Dinghy Fuel:

Fuel costs for your boat can vary significantly depending on your location. Diesel typically ranges from $4.50 to $7 per gallon in the Caribbean and the US, while the Mediterranean tends to be on the higher end, with prices ranging from $5.50 to $8 per gallon. Gasoline for your dinghy usually costs between $3.50 and $5 per gallon.

Fuel prices fluctuate, so it’s important to check the current rates for the areas you plan to sail in. These costs will be an ongoing part of your boat life expenses, so consider them when budgeting.

Customs and Immigration:

Customs and immigration fees can vary greatly depending on the region, so it’s important to look up the specific regulations for your area. For example, in the French Caribbean islands like Martinique, immigration fees are minimal, usually just a €5 entry fee.

In Grenada, the fees are as follows:

• Cruising permit: EC$50 (= $18.50 USD) for yachts up to 40 ft, and EC$75 (= $27.75 USD) for yachts up to 60 ft (per month).
• Port authority fee: EC$30 (= $11.10 USD) for yachts under 50 ft per entry.
• Immigration: Entry is free for up to 90 days, with a visitor’s permit extension costing EC$25 (= $9.25 USD) per month.

Essential Systems: Energy and Repairs

Electricity on a boat usually comes from solar panels and batteries if you’re off-grid. Here’s a setup guide for different boat sizes:

For a 29ft Boat:

• Lithium Batteries: $1,500–$2,500 for 200–300 Ah setup.
• AGM Batteries: $500–$1,000 for a 400–500 Ah setup.
• Solar Panels: $500–$1,000 for 200–300 watts of solar panels (after installation, solar power is free!).

For a 50+ft Boat:

• Lithium Batteries: $3,000–$6,000 for 600–900 Ah setup.
• AGM Batteries: $1,500–$3,000 for a 1,200–1,500 Ah setup.
• Solar Panels: $1,500–$3,000 for 800–1,000 watts of solar panels (solar power is free after setup!).

Investing in a reliable energy system is crucial for off-grid boating, providing independence and reducing reliance on shore power. While the initial investment can be significant, the long-term benefits of renewable energy and reduced operational costs are substantial.

Other Periodic Costs:

• Antifoul (“bottom job”): Recommended every 2 years in most cases. In warmer seas with abundant marine life, it might be needed annually due to faster hull growth. Costs vary depending on boat size, location, and whether you do it yourself or hire labor.

• Rigging renewal: The recommended interval for standing rigging replacement varies, with many experts suggesting every 10 to 15 years or after approximately 30,000 nautical miles, depending on usage and environmental conditions. Costs range from $3,000 to $10,000 depending on the boat and rigging type.

Optional and Luxury Expenses

While not necessary for all, the following costs might be essential for some liveaboards depending on your needs and preferences.

Eating Out:

Dining out at local spots is relatively affordable in most places. In the Caribbean, meals typically range from $10 to $20 (in local places even lower, $7 for a whole meal is doable), while in the Mediterranean, the cost can be $12 to $35, depending on where you are.

Marina Fees:

Marina fees can vary widely depending on boat size, region, season, and whether you’re staying short-term or long-term. For example, a 40ft boat might cost anywhere from $20 to $150 per night, but prices will fluctuate based on location and time of year. Long-term stays may come with discounted rates, while mooring balls typically cost between $150 and $300 per month, depending on the region.

Dry storage options, especially in places like the Mediterranean, can range from $1,200 to $3,000 for a 6-month winter storage period.

This is just a general idea, and actual prices will vary. For accurate costs, it’s important to research specific locations and account for your boat’s size, region, and how long you plan to stay. Anchoring is always a free alternative and my number 1 recommendation, that's why investing in a good anchor and chain is key! I personally am a big fan of the new generation anchors and bought the Mantus M2 for my own boat, which I can highly recommend. If you were looking for a new anchor, here’s a link to Mantus Marine.

Unexpected Costs and Maintenance

Stuff breaks - often! Regular maintenance is also essential to avoid more costly breakdowns later on. A good rule of thumb is to budget 10% of your boat’s value for annual maintenance and unexpected repairs. While this is a general guideline, it’s important to note that there are always possibilities for major repairs that could exceed the usual costs.

This percentage can vary depending on factors like the age of the boat, its condition, and how often it is used. Older boats or those in harsher environments (like saltwater or extreme weather conditions) may require more frequent repairs. In these cases, you may want to budget higher than the 10% guideline. On the other hand, newer or well-maintained boats may cost less to maintain.

Setting aside 10% of your boat’s value annually for maintenance and repairs helps provide a safety net. It’s a good idea to adjust this percentage based on your boat's specific needs and usage.

Why Small Boats Make Sense

"Small Boat, Big Freedom"
Starting with a smaller boat keeps costs manageable and gets you cruising sooner:

• Antifoul Paint: Smaller boats need less, saving hundreds on haul-outs.
• Storage: Marina and dry dock fees are calculated by boat size, so smaller boats cost less.
• Repairs: Fewer systems mean lower repair costs.
• Insurance: Smaller boats come with smaller premiums.
• Upgrades: Compact gear like anchors, batteries, and solar panels is more affordable to replace or upgrade.

Cruising doesn’t require a mega-yacht - starting small makes it more accessible, affordable, and just as adventurous!

Conclusion: Is Boat Life Cheaper?

Boat life can be as affordable or luxurious as you make it. The secret is living simply -anchoring for free, eating local, and doing repairs yourself. While there are fixed costs, boat life offers freedom from mortgages, property taxes, and many day-to-day expenses of land life. For example, could you live off $750–$850 per month (per person) for all your expenses on land? Probably not! But on a boat? Absolutely! It is a tight budget but totally doable as long as you have some emergency savings and keep things simple. 

Most importantly, boat life is about the freedom to explore - sailing from country to country and experiencing life in ways land can’t offer.

Pro Tip: Start small, start now! Don’t wait for the perfect boat or retirement - you never know what life will bring. Every foot of added boat length increases expenses, and you don’t need every luxury item to get started. Trust me, you’ll figure out what you truly need as you go.

The golden question: How much does a beer cost? In the Caribbean, a beer typically costs around 5–7 EC ($1.85–$2.60 USD), making it cheaper than in the States or Germany. Most local beers are surprisingly tasty - and coming from a German girl, you know you can trust me on that! 😉

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Thank you!💙 Fair winds and salty kisses,
Sailorgirl Kristina