How Much does a Bluewater Sailboat Cost? | Sailing Soulianis – Ep. 22


– Now that we’ve owned our
boat for a little while. – And we have officially left the dock. (upbeat music) – We thought it might be a good time right before we set off down the river to take a step back and talk
to you guys about money. – Cash flow.
– Dollah-dollah bills, y’all. – Clams.
– Clams? – Everybody always wants to
know, how much does it cost? – And it’s one of the most
important questions too because it’s one of the
biggest barriers for entry. Once you decide that
you want to buy a boat, once you decide that
you want to go cruising, the next biggest question
is, do you have the money? – Today we’re gonna talk to
you about a couple of things. We are going to answer the question, how much does it all cost? We just bought a boat. That’s the big one. – We’re gonna touch on
our saving and planning in the years that lead up
to actually buying the boat. (champagne squirting)
– Yeah (laughing). Lauren just paid off all her school loans. The types of expenses to
expect when purchasing a boat. – [Woman] $370 to document a boat. When you have a lien and
you have to record it it jumps up to like $570. – The upgrades that we
needed to do to the boat once we purchased it. – A new windlass. – 44 pound Rocna. We got a dinghy! Here is your throne. 200 feet of chain. – Lastly, we’re gonna talk about the tools that we developed, to help us answer some of the questions, like should we finance the boat and how much boat can we afford? And how much is it gonna cost to make this boat into
what we want it to be after we do buy it. It took us 10 years from the day we decided
we wanted to go sailing, to signing the dotted line
to purchase our sail boat. Was it 10 years, really? – Yeah it was, I mean
it’s kind of a gray area but yeah, it’s about a decade. Overall, our biggest thing was we didn’t wanna just save
up some money, take off, and then when that money run out, be forced to come back to land. We actually already had done that once. It wasn’t a boat situation,
but we quit our jobs and we took off traveling,
and then we ran out of money and we had to come back and get jobs. We did that in our early 20s and that wasn’t something
we wanted to do again. This time we wanted to
make it sustainable. So we wanted to eliminate debt, we wanted to acquire some
passive income streams and. – We needed to save for the boat. – And we needed to save for the boat. – So while it took us 10 years
to do all of those things you can probably get
them done a lot faster if you don’t come out of school
with massive amounts of debt and if you are comfortable with the idea that after a year, or two, you might need to stop
and get different jobs. We’re treating this a
little bit differently, we’re wanting to make it
a sustainable lifestyle and so we are working the entire time that we’re traveling and we’re hoping to cut
back on that a little bit but it’s more of a lifestyle choice for us rather then a sabbatical. (upbeat music) So during all of our time
thinking about buying a boat in that 10 year period,
we also had to talk money. We had to figure out how
much money we could spend and it wasn’t always clear because. – The type of boat that we wanted changed. – Drastically.
– Like drastically over the years that we were searching. – I’d like it, we’d have to
put some money into it though. – That boat’s a piece of work. – We really didn’t follow a very well thought-out plan,
which is why I wrote the post “How to Buy the Right Sailboat for You.” (laughs) So that you could
learn from our mistakes. – So you’re not idiots like us, spending years looking for a boat. – But when it came down to brass tacks, we decided we had a
all-in budget of $50,000. – And the $50,000 thing actually came just a little bit after we had like a $30,000
budget for a little while. – For a while we thought we
wanted to stick around $30,000 and then we decided we could
go a little bit more to get what we felt like would be
a significantly better boat that was gonna require a lot less work. – Yeah. – So that really leads into, kind of the thinking behind our budget
was, we had $50,000 all-in. That meant we could buy a $50,000 boat and not spend a penny more,
or we could buy a cheaper boat and every dollar under $50,000 was money that we could
put towards upgrades. – You might still be
wondering, why $50,000? We wanted to buy a boat that
was pretty much ready to go. We didn’t want to be stuck in a boatyard for months or years, trying to
finish a half-completed boat. We looked at boats that
were less than $50,000 and we felt like either, they were too small for the two of us, or they weren’t in good enough condition. And so after looking at
hundreds of listings, probably thousands, it
just seemed like $50,000 was the minimum amount
that we would need to spend to comfortably get what
we were looking for, which was something that
was pretty much ready to go and also the size that we wanted, somewhere between 35 and 40 feet. – And the reason for that is a few things. I’m six foot three, and
having standing head room in the place that I’m going
to live, is very important. Also, we work remotely, so
we need some office space and having some space for
toys was also very important. – [Lauren] What d’you got? – I got some kiteboard here. (upbeat music) How much does it all cost? Is that where we are at? – Well, yeah, we’re gonna focus on how much it costs to
actually buy the boat. Of course there are costs
once you buy the boat, ownership costs, but we will only.
– Save that for another video. – Focus on what it costs to buy the boat. – When buying a boat,
there are a lot of expenses that are easily overlooked. We found that when buying our
boat, all of those expenses added up to about 10%
of the purchase price. – And that’s because of all
these other little expenses that you really don’t think about when you’re just browsing online, looking at the listing price of the boat. The list price of our boat, was. – What was it, do you remember? – I’m pretty sure, it was 40 ss. – Do we need to look it up?
– Seven? There it is, 47. – Okay.
– ‘Kay. – So our all-in budget, was $50,000. The boat was listed for $47,000. Bing! We’re under budget already. – Yay. – We offered.
– 41,000 – We agreed on a purchase
price of $43,500. – That.
– That was great (laughs). – That left us with $6,500
for upgrades and repairs, which we thought was fantastic. – But not so fast. – That was before we realized all of the other transactional costs associated with the purchase of our boat were going to add up to $4,029. – Wah-wah. – So what were all of those costs? – Survey, $740. – Our haulout to inspect
the bottom of the boat during the survey was $272. – Insurance was actually something that we needed to have at the closing because we decided to finance our boat. – $591. We bought a Boat US membership, so that we had unlimited towing. We felt like we didn’t
want to leave the dock and go anywhere without that. Was $10. – $10 that was the best
money that we spent I think. – (laughs) Closing costs, were $125. – Registration was 73 but the
biggest one was sales tax. – That was $2,218. – Ouch. – And depending on which state you are in and how dubious you
feel like being that day there are many ways,
both legal and illegal to try and get out of paying the sales tax but we just decided not to
go through all of that hassle and pay up. – Because we’re also
not by nature, crooks. So that did a good job of eating up most of the rest of our budget. – Leaving us with a total of $2,471 for upgrades and repairs. That’s startin’ to feel a little bit slim. (jazz music) – 99.9% of the time when you buy a boat there’s gonna to be something
that you want to do to it after you buy it. And in our case, there was a bunch of upgrades
that we wanted to make. – But we prioritized a number of things that we wanted to do to the boat before heading down the river. – To be specific, we weren’t
super-concerned about getting a solar array up, we
also weren’t concerned about immediately upgrading our batteries. Those were things that
we decided to do later. But the things that we did do. – Are many.
– Yes. (jazz music) – Are we showing a list
on screen right now? – Sure, I don’t know. We bought a radar reflector, we bought a handheld VHF, we bought two jerry cans for fuel, one for water. We got a free inflatable dinghy with oars. We upgraded all of our LED, all
of our cabin lights to LEDs. We bought Navionics for our iPhone. We purchased a new Rocna anchor. We purchased and installed a windlass. We added 200 feet of 5/16 high test chain. We got an anchor bridle, a swivel. And everything to finish out our. – Anchoring system. – Ground tackle anchoring system. We got our cell phone signal
booster and an antenna so that we can continue working. And we made covers for our compass, our handrails and our winches. And put in some soundproofing
for our engine compartment so that it wouldn’t drive us crazy as we were motoring down
the river in a sailboat. That covers it. – Is that it? – That is all of our costs, to
date from purchasing the boat through leaving our home port and starting out on our adventure. I just realized I didn’t
include the stuff we bought before we bought the boat which was the holding
tank, which was $700, which would put us $1,100 over budget. – Oh (laughs).
– Shh. There are probably a few thousand
dollars of other expenses in there for just living expenses. Probably a couple of hundred more in there for just consumables and
every day odds and ends like cleaning supplies, and.
– Kleenex. – Little bits here and there that didn’t make it into this list. – Kleenex.
– Kleenex. Why Kleenex?
– I don’t know. – And a few months between buying the boat and preparing her to head down the river, we spent a total of (tapping on wood) $2,924 meaning we were only $423 over budget. For a grand total of $50,423 spent to purchase and outfit our boat for extended, long-term travel. (upbeat music) So how did we spend $50,000 and only manage to go $423 over budget? That’s a good question, you might ask. – How do you know that a boat is listed for a reasonable price? How do you know what to offer? Not all the time do you want
to offer the full price. I mean, just like houses, you often offer under
what the asking price is. And then how did we know
that the counter-offer was something that was acceptable? Those are all really good questions. And we didn’t just stick with a feeling. You know, it wasn’t like
oh, this feels right. But we crunched the numbers. – As part of the process
to purchase our boat we developed a few financial tools to help us make decisions and streamline the boat-buying process. The first tool we created
to help us determine what was the fair market value of the boat that we were looking at. It also served to help
us take an inventory of everything that was on the boat so that we could figure out what else we might need to add
to that boat after purchase. – ‘Cause the boat itself
is only one part of it. especially if you’re going to be cruising, all the extra stuff on
the boat is a big deal. – So this tool helped us estimate the cost of everything that we would
need to add to the boat after purchase, and is a major reason why we were able to stay
pretty close to our budget. The tool also helped us
analyze sold boats data we got from the listing broker. We were able to look at
all of the sales history for the past three years of every Tartan 37 sold through a broker, and analyze the average sales price, how long it sat on the market, the percent and dollar
amount of the discount, and ultimately, generate
a suggested offer price that we should make on the
boat that we were buying. – [Lauren] So that we knew we weren’t gonna overpay on the boat. – The second tool we created, was a tool to help us decide
between buying the boat in cash or financing the boat,
and saving that cash and investing it in some other manner. Both of those tools we created were extremely important
in helping us make all of the decisions throughout
our boat-buying process. We’re really excited to be able to share those
tools with our patrons. You’ll have full access to
all current financial tools, as well as any future
updates that we make to them along the way. – But if you’re not a patron and you’re still interested
in using these tools, you can. – We’re making them available for purchase and they can be downloaded
directly from our website. Put a link in the description below. – Below. – Thanks so much for watching. If you like what we had to share today even through it was a little bit different and at some times awkward. (whispers) Mostly her. – Yeah, definitely. – (laughs) Let us know. If there is somethin’ that
we didn’t cover here today that you’d like to see, tell
us in the compli, compliments? – Tell us in the compliments. – Tell us in the compliments, yo. – Compliments only (laughs). Anyway, thank you for watching,
and we will see you soon.

100 thoughts on “How Much does a Bluewater Sailboat Cost? | Sailing Soulianis – Ep. 22

  1. After years of sailing and power boating in the Bahamas I found the following to be helpful:
    Music: Anything by Jimmy Buffett (a must and always with rum)
    Best Island Chain: The Exumas (for many reasons)
    Second Best: The Abacos (but now to many people)

  2. Thank you this is the info I was looking for. I am 50 I sailed 10 years ago with some friends and I am hooked now, but I got 2 children one is 5 and the other 7. Now they know how to swim. I am divorced and I have two friends who wants to go and sail. I have the funds about 65K and I started looking on canadian websites but what suggestion can you give me. What do I need ? I just sailed in lakes now and I want to start with the caribbean. I want to take ny kids at list 2 years out of school and do homeschool and get someone. We will be at list 6 people 4 adults and two children. two will be employees cooking and helping the other teaching, and friend. What can you suggest…. I am all ears

  3. From sunny South Africa, great video guys, I have just purchased a little thing (Mistral 22ft), not a blue water boat and needing a lot of tender care and your tools are awesome. Will purchase mine soon. Thanks again.

  4. Its the government that are crooks….informative video guys….I’m at the boat viewing stage right now and this is another useful vid. One thing i have learned from previous boat ownership, is get the boat off the hard standing asap…..that rental will eat up your funds fast.

  5. did you know how to sail before making this decision or did you buy the boat and learned as you went. Also, what are your costs for maintenance??

  6. Wisdom! Young is often not so. Starting a project together is pretty darn smart. I like seeing the thought applied to the task.

  7. Congrats on making it to salt water
    Have enjoyed getting glimpses of the layout, rig etc. as I am finishing a substantial rebuild of her smaller sister , a tartan 34c built in 1975.
    I loved learning so many new skills from replacing deck coring , epoxy layup. Rudder rebuild, canvas work 2 part paint to dynema lifelines.
    I understand how you felt when first seeing her. Classic lines with just enough teak. I hope to trade up to a 37 of the same vintage as I do lust after a shower and a little more room and maybe hot water.
    How do you find the engine access?
    We will take off for Maine from here in Annapolis this summer and then to Fla. for the winter and see if we don’t kill each other .
    Best of luck John

    I understand that the she has a cored hull and I hope yours checked out.

  8. An interesting thought, having listened to your math – did you consider buying a boat in Canada? The market is actually softer, and you'd automatically save 30%+ with the exchange rate… I have a feeling that monohulls from Toronto area would be a great way to go since they're fresh water boats, so they haven't aged at the same rate as salt boats, and tend to sit around waiting to get sold for a long time once they're 10+ years old.

  9. My uncle has a big sailboat, A Southern winds something or other. The biggest issue wasn’t the money, (this was a custom 150 ft sailboat) a shit ton if you don’t know. The biggest issue was his kids, his kids having to go to school everyday was a big issue, and led to him only sailing in the summer when his kids were off. So if you are thinking of doing this, know when and how you are going to sail

  10. Some people look at a boat like a money pit it is the most expencive way to travel third class, but the best way to see the world. I sailed dor 3 years mostly alone, best time of my life. .

  11. With a proper vessel, one can travel the world without a passport. Just avoid people, which is a good idea anyway.

  12. That was a very helpful video I have purchased a number of used boats and you did a great job. Safe Sailing

  13. sailing boats are v expensive relative t Europe. I estimate typically 50% higher. Don't know why.
    If you can sail it across Atlantic that would be way of saving – and your first big trip

  14. Great video guys! Thank you for the information! You two are very charismatic! Keep up the great work! I hope to join you on the water someday soon!

  15. Hi there, Thank you for sharing! We are on similar mission but within tougher environment. Our hope is to make it some day soon. 😉

    Keep up the good work!

  16. wow! thanks for sharing probably one of the most private, yet extremely important consideration for 99.9% of those persons wanting to attempt to live this lifestyle. I live in Kemah TX and luckily work remotely and most people always ask about the cost of not only the boat, but other things too. Your transparency has won over at least one more subscriber. Thanks again for sharing!

  17. Hello. I looked at a beautiful Tartan 37 the other day. It is nearby, in great shape, and a bit pricey. But… what do you think of your boat? If that is a video, I'd love to know the number. My first question is about wet decks/water intrusion? Is that a common problem with the type or not? We moor next to a T37 and admire her lines a lot. Our boat is an Aphrodite 101 with 4.5 ft headroom. www.averisera.com A similar hull profile. Love to hear about the sailing characteristics of your yacht. Thanks for the insightful presentations. Norm

  18. So you said to get out of debt (which I agree with) to live that lifestyle. Then you finance your boat instead of pay cash for it???? You just traded one debt for another debt. Debt is enslavement. This line of thinking makes no since to me.

  19. You guys are the first (that I’ve seen) that offer tangible (the tools) benefits of sponsoring your sailing via Patreon (beyond your videos, which are great!). Smart move. We wish you well.

  20. This is the first time I've seen your channel, you seems like humble and good people and I will watch your videos from the beginning all night long now 👍🏻

  21. I'll never understand why anyone down votes these videos, much less 136 miserable people! Just move on, if you don't like the content. Good on you guys for living the dream!

  22. Not interested in ur damn life story write a book if u want to share it. Get to the damn point. Boring ass video. Had to turn it off…

  23. Scammers that don't want to work talking about $110,000.00 in debt that they wan't YOU to pay off by donating or buying their wares. Not contributing to society, just playing around the world…Millennials. You just watched a 13 minute commercial.

  24. You guys are cool I will subscribe, you are not like those other fake ass in youtube that use their boat to traffic drugs

  25. They are so cute. Have not seen whole vid but I will, just wanna chime in because we have six children. So planning, financial or otherwise comes down to, 1.) don't have kids. Repeat.

  26. I'm looking to live aboard. Trying to find a small boat.I wish they made small cuddy boat but a mass on top for when you run out of gas

  27. Kon Tiki ! I think its really cool, you have shown that big things are possible if desired strongly enough….great, entertaining treatment of your dreams together…thanks for the post.

  28. My brother has a beautiful blue water sailing boat for sale at a very, very reasonable price. Except for a single trip from New York to S Carolina this boat has been a fresh water boat.
    It is a Nantai 37. Custom built in Taiwan. A sloop rigged, semi-full keel with a skeg hung rudder. Full standing headroom. Teak wood interior. Air conditioning, refrigeration, two main cabins, roller furling headsail, teak deck, wind generator, dingy davits, electric anchor windlass, 100 gallon water and 100 gallon fuel tankage located in keel, three cylinder volvo diesel. Many other upgrades including navigation equipment, mast steps, autopilot, etc.
    Bulletproof heavy construction, not a racing sailboat.
    Contact me for info. Boar located on Lake Murray in S Carolina.

  29. I'm guessing you created these tools and are selling it as your income? That's how you make your passive income.

  30. I am subscribing because I love how you put it all out there because I am planning on buying a sailboat and wow dock feas Among all the other cost not cheap at all but dupable

  31. President Trump is doing a great job. This works because the president has singlehandedly created an economic boom.

  32. I hope people understand that your budget is very modest and it's difficult to fully outfit a boat for blue water like you did. Nicely presented btw!

  33. Glad I found your channel, great videos. How much sailing experience did you guys have before buying??

  34. Decent video, I assumed all millenial sailing couples were trust fund kids, this video kind of dispelled that and painted you in a positive light. Thanks for sharing, way to go with your sailing! You rock!

  35. If you are going to live on a boat with a lady make sure she is attractive like this lovely lady! and MUST have a sense of humour! No moaners or depressive women otherwise you wont be living on a boat for very long!

  36. TO MUCH,…''PAY ABOUT FROM,$12,00 TOO $20,000.00 FOR BOAT.AND MABY $5,OOO.00 FOR FIX UP.]THEN DO ALL THE REST.INSURENCE,SLIP FEE,ETC.IT'S LIKE SOME PPL SPEND TO MUCH ON WEDDING'S,AND AFTER THERE MARIED,WISH THEY'D HAD SPENT LESS,AND THEY WOULD HAVE MORE FOR THE REAL THING'S OF BEING MARRIED..BILL'S,PAYING OFF CAR,HOME MABY.PLANING FOR A CHILD,REAL THING'S..UNLESS YOUR RICH OF COURSE,THEN YOU CAN DO ANYTHING YOU WANT.BUT,MOST OF US IS NOT RICH..SOMETIME WHEN YOU SPEND MORE MORE,DONT MEAN YOUR GETTING A BETTER BOAT.BUT THANK'S FOR THE INTERESTING VID.

  37. That's the thing about generation Y.. They appear mature and collected but they are feeling their way. Got caught by transactional costs.

  38. How many ounces of each thing did you have to sell again? Oh wait, that was before I heard you say “we are not by nature, crooks”.

  39. Wow….so you think you're a crook for trying to avoid being extorted for a private transaction between you an another person, but see no issue with the extortion itself.

  40. I still don't understand how it can be legal to pay sales tax on the life of the item. I mean seriously. I'm ok with dealer to owner on a new purchase. Ok uncle Sam gets his cut. But I'll be damn if I pay for it again and again and again and again. Greed won't end until we draw a line in the Sand damn it!

  41. Eww… How could you live on a $50k boat… Smallest boat I could even consider living on is a Formosa 41, some are really cheap and need a ton of work… But cost way more than what you've quoted if they were nice. It can be sailed by one person. I really want a swan 65. You can actually party on a boat like that. I think you need a crew of one or two to run a swan 65 properly though… And I don't like the idea of crew. Not to mention a Swan 65 costs like 300k minimum.

  42. Hey guys just found your channel and subscribe I’m really enjoying it! I follow quite a few sailing channels and you guys are right in there with the best keep it up and before long you’ll have well over 100,000 followers very informative thank you

  43. Whew, I thought you saved $ 50,000 to buy a boat. Definitely being able to work remotely and getting paid by things like Youtube and Patreon helps.

  44. TOO EXPENSIVE ! Why don't you just hire the boat when you want to go for a week end or even a week holliday or two ? Even if you would do that during 30 years it would still be cheaper than buying a boat !

  45. Second time watching this video for good reason. It is a great one to refer back to. Hope you guys are safe and Soulianis survives on the hard there through the storm.

  46. Thank you, I really enjoyed it. I do have one question. I dont get it, why did you have to pay sales tax? Did you buy the boat from a Company???? I mean if you buy a used Product from a private person you would not have to pay sales tax… Or what state has that?

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