So , how much does this all cost ?

So , costs

Last post I made was ‘the big question‘ , but how much is this going to cost?

Lets break it down a little bit (and of course mileage will vary for different cruisers , some spend more and some spend less) but I hate to come up ‘short’ so I think I calculated it quite good and after extensive research on what other cruisers spend I came to the following amounts

1: The Boat ! , all said and done I would like to have a ‘cruising ready’ yacht for 150K Euro , so that means buying a less kitted out yacht for less money and use the delta for upgrades and repairs or a ‘ready to go’ yacht for the 150K. Hopefully we can find something for less ? would be nice and we’re looking at Jeanneau Sun Odyssey’s 45.2 and we bought a Beneteau Oceanis 473

2: monthly expenses incl food , drinks , yacht maintenance , trips , fuel , mooring etc etc . 2500 euro per month (*12 = 30K euro a year)

3: Schooling for the girls , since we have 2 girls that need to be boat schooled , and material , tests , Internet , landbased progress assistance etc it will be quite expensive ! for now we figured 5K euro per person per year so that is 10K euro for both per year (update 2-2018 : we’ve actually decided to bypass the worldschool for the first few years so costs are a lot lower)

4: Mortgage , another big ticket item . Since we did not ‘sell up and go’ but choose to keep our current home the mortgage needs to be paid as well while we’re gone. According to a real estate agent we can rent out our current home and get some extra income out of that (approx. 800 euro per month ) which will pay for the kids schooling

5: Insurance for the boat (1500) and health insurance , 2808 euro , pension 500 = 4808 euro per year ?

so , add it all up for 4 years :

Spending

  • boat 150K
  • living expense 120K
  • schooling 17(28)K 10K
  • Insurance 20K

income

  • 30K from renting out the family house
  • 110K from rental property we already own straight up

Grand total for 4 years : 300K euro – 148K euro = 152K euro and since I am sure there will be value in Blue Pearl after we return , and I am conservatively guestimating it at 80K euro  when we return , the total voyage would cost us 70K euro over the 4 years , so 17.5K euro a year

We do have an emergency fund for unforeseen large boat/personal expenses but as this is personal for everyone I do not list or count that here , if we need to tap into that I will mention that in the running costs section