How to Live on Boat Simply and Affordably

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Can you live affordably on a boat? Absolutely! In fact, it can be cheaper to live on a boat than to live a house; however, to live on a boat affordably and save money, you need to set reasonable expectations for your live-aboard life.

We’ve written (and filmed) a lot about living on a boat, and one of the biggest misconceptions we get when we describe our lifestyle is how expensive it must be.

While there are certain costs that boat owners will need to bear that you don’t have on land, there are many ways to save money that can more than offset those additional expenses. In our experience, living on a boat can be cheaper than living on land.

This is everything we know about living simply and affordably on a sailboat.

How Much Does Living on a Boat Cost Us?

sunset boat kornati Croatia How to Live on Boat Simply and Affordably
Liveaboard life can be affordable

The cost of living on a boat will, of course, vary from sailor to sailor. We spend around $2500 a month living in a boat in the Mediterranean. $1,900 is our day-to-day living costs like groceries, fuel, and marina costs. $600 is boat costs, including maintenance, repairs, insurance, and off-season storage. Some years that will be less some years more, depending on the area we are sailing or the repairs or upgrades we undertake.

This budget allows us to eat out from time to time, grab the occasional beer or two at a bar of coffee at the cafe, and use marinas as needed (for us 5 – 10 nights a month).

How Much Does Living on Land Cost Us?

This is a bit trickier to answer because we have lived across many different continents with varying living standards. The cheapest, at around $1,500 a month, was Van’s life in Peru and the most expensive was living in an apartment in Amsterdam, where we spent more than that in rent alone.

We can say that the costs associated with boat life are easily offset by costs for rent, utilities, and transport (especially if you add a car or other vehicle into the mix!)

In general, boat life need not cost any more than living on land. Granted, our life aboard is often more spartan than life on land, but we much prefer living off-grid and on anchor when possible while sailing. If your idea of sailing life is permanently moored at a marina, it may be difficult to keep costs lower than living in a home.

To live affordably and save money on a sailboat, you must set your expectations accordingly and manage your costs precisely. Here are some ways to keep costs low.

How to Live on a Boat Affordably and Save Money

While living on a boat cheaply can be done, it is certainly not guaranteed.

The marine and sailing industry is intentionally geared toward the luxury consumer, and hefty premiums are charged for services and amenities aimed at sailors and their boats.

However, with some planning and sensible decision-making, living on a boat full-time can be done on a modest budget, allowing you to live the lifestyle while saving money.

Here are 11 tips for keeping costs down and allowing you to live your dream without going broke.

Make a Budget

The best way to stay afloat while living the sailing life is to make sure you are living within your means.

The easiest way to do that is to make a detailed budget.

Tally up your recurring month-to-month living costs, such as groceries, phone, internet, mooring costs, etc. Next, add up your annual costs, such as boat maintenance, insurance, etc. Make sure your income or savings exceeds your budget.

Use your budget as a guide to help you make financial decisions, both small ones, such as whether to splurge on the fancy beer at the supermarket, and the larger ones, such as the budget you set aside to purchase a boat.

For an idea of the various costs you should consider when creating a liveaboard budget, check out our article on the costs of living on a boat full-time.

To grab a copy of our custom-designed budget for spreadsheet for just $2.50, sign up to our mailing list below.

Buy an Older, Smaller, Cheaper Boat

Duh! It might seem obvious, but it seems to be a popular idea that the price of a liveaboard begins at around $100,000.

The reality is that you can buy a liveable boat in the $15,000 – $30,000 range, depending on your needs and the market.

Buying an older, smaller boat is especially prudent if you are buying your first boat. Besides saving you a lot of money upfront, an older, smaller boat is generally cheaper to maintain, easier to learn to sail, and less financially ruinous if you change your mind and decide the liveaboard life is not for you (or you sink it).

Older boats depreciate more slowly than brand-new boats, and as long as you don’t overpay when you buy and look after it well, you will recoup much of what you initially spent (less any upgrades and maintenance).

If you decide sailing is for you and you want to continue the lifestyle, you will know more about boats in general and, more specifically, what you want in your ‘forever boat’.

Be careful not to go too far the other way and purchase something that requires a lot of work. Boat repair is expensive, labor-intensive, and requires expert knowledge and skills. Get a marine survey before purchasing an older boat, and don’t buy anything that isn’t safe and ready to sail upon purchase.

DIY As Much As Possible

painting anti foul boat How to Live on Boat Simply and Affordably

Carry out as much work and maintenance yourself as possible. It will usually be far cheaper and quicker, and you can be certain that maintenance jobs and repairs are carried out properly.

Most importantly, it will give you a better understanding of the systems on your boat when they break down again—far from shore.

Generally, you can find out how to complete most routine maintenance and upgrades online by watching YouTube videos.

Anchor as Much as Possible

boats anchored corfu ionian greece How to Live on Boat Simply and Affordably
Take advantage of free anchorages

I’m not sure about you, but we got into sailing to explore, to enjoy waking up in secluded coves and to generally be away from busy marinas.

To keep berthing costs as low as possible, use free anchorages, cheap mooring buoys, and public facilities like town quays whenever the weather allows.

Sail in Shoulder Season

If you’re only sailing periodically, then choose, whenever possible, to sail in shoulder season.

Aside from enjoying fewer people to share the waters with and greater availability for marine services and amenities, there are often also savings to be found with reduced-priced berths, moorings, marine fees, and more.

Set Your Boat Up for Off-Grid Living

Sailboat Anchored Bay Iž Croatia How to Live on Boat Simply and Affordably
That’s livin’

The more self-sufficient you are, the longer you spend away from expensive marinas and ports.

Invest upfront in good solar energy and water storage systems. Ensure your boat is set up as well as possible for comfortable off-grid living. Upsizing these systems is a cost that will quickly pay for itself.

Choose Your Insurer Carefully

Behind-the-scenes admin like insurance for yourself and your boat can add hidden costs to your budget that can quickly blow your bottom line.

Taking the time to shop around and find an insurer that offers a level of protection you’re happy with for a price you’re happy with is a solid investment that will pay dividends.

Boat insurance can be tricky, and the available providers will depend on a combination of your nationality, the waters where you are sailing, and your boat registration. We’ve found sailors’ forums and social media groups on Facebook and Reddit great for getting localized information on the best insurers in a given region.

Travel and Health Insurance for Sailors

The level of coverage you require will largely depend on the type of sailing you plan to do (off-shore, on shore etc), where you plan to sail and of course your appetite for risk.

We use low-cost, flexible nomad insurance from SafeteyWing to cover emergency health care while we sail far from home.

You can read more about SafetyWing Nomad Insurance for Saillife here.

Choose Your Destination Carefully

boat anchored in corfu How to Live on Boat Simply and Affordably

Choose to liveaboard in the many parts of the world with an old and accessible sailing culture, spots where sailing isn’t an exclusive sport reserved for the wealthy elite but a way of life—think the Caribbean, some parts of the Mediterranean, or Southeast Asia.

By locating to an area where sailing and sailing services are affordable and the general cost of living is low, you’ll find that a sailing lifestyle can be far, far more affordable than life on land.

Learn to Love Cooking on Board

We love cooking on board, and that’s lucky because it allows us to save a lot of money when living aboard.

We still enjoy eating out when sailing, but we plan our visits ashore to restaurants carefully in advance. When sailing in the Mediterranean, we often choose seaside restaurants that offer marine services such as mooring, electricity, or water, allowing us to deduct the cost of eating out against our budget for moorings and marinas!

Unfurl the Sails

sailing winch kelli montenegro How to Live on Boat Simply and Affordably
Pull out the sails whenever you can!

Sailing as much as possible can save money on fuel. You might have to accept that you won’t travel as quickly or directly, but with forward planning and adapting to the weather, you can make steady progress without breaking the bank on fuel, a cost that can quickly blow out the bottom line.

This year, we sailed from Montenegro to the top of Croatia on less than $100 of fuel!

Hopefully, we’ve helped shed a bit of light of the best ways to keep liveaboard life affordable, allowing you to live the sailing lifestyle without going broke!

If you have any questions about keeping costs down while sailing the seas, drop us a comment below!

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Further Resources

If you’re just dipping your toes in the world of sailboat ownership or the liveaboard lifestyle, we have plenty of resources to help.

Check out these other helpful posts:

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