Thinking about ditching your apartment or house for life on the water? Living on a boat sounds like a dream, but it raises a lot of questions. Is it really cheaper than a typical home? How much is the initial setup? What do monthly expenses look like?
Here’s a detailed breakdown of what it actually costs to live on a boat full-time. You’ll get real numbers, real examples, and practical advice to help you figure out if boat living is for you.
Why People Choose Life on a Boat
Many people shift to boat life for the freedom. You can move whenever you want and enjoy waterfront views every day without paying millions for a coastal home.
Some motivations include:
- Escaping high rent or mortgage costs
- Traveling slowly and cheaply along coasts, rivers, or lakes
- Living a more minimalist, mobile lifestyle
- Trying to retire early by cutting expenses
If these reasons resonate with you, boat living might be a real option. But first, know the numbers.
Buying the Boat
You can’t talk about cost without starting with the boat itself. This is your home now, and the range of prices is wide.
Most liveaboards choose one of these:
- Sailboats: Often more affordable than powerboats, and they save fuel if you plan to sail a lot.
- Trawlers: Good for long-distance cruising and comfort, but need more maintenance.
- Catamarans: Offer loads of space, but usually cost more up front.
Here’s the ballpark cost for a used boat suitable for full-time living:
- Small used sailboat (28–35 feet): $20,000 to $50,000
- Mid-size used sailboat (36–45 feet): $50,000 to $150,000
- Used powerboat (30–40 feet): $40,000 to $100,000+
- Catamaran (40 feet+): $150,000 and up
Some people find project boats for under $10,000 and fix them over time—but this path takes more effort and risk.
Required Upgrades and Setup Costs
Once you buy the boat, expect to invest more before you move aboard. Even if the boat is in “ready-to-sail” shape, it might not be ready for full-time living.
Initial setup may include:
- Safety equipment: Life jackets, marine radios, flares ($500 to $1,000)
- Solar panels and batteries: For energy off the grid ($2,000 to $5,000)
- Marine toilet and plumbing: If not already installed ($500 to $1,500)
- Internet or Wi-Fi booster: For remote work or streaming ($150 to $600)
- Storage and organization: Bins, shelves, modest upgrades ($100 to $400)
Total setup costs: Plan on $5,000 to $15,000 depending on how much you do yourself.
If you’re handy and patient, you can save a lot on setup by sourcing parts used and installing them DIY.
Docking and Marina Fees
Where you dock matters. Some boat owners stay at a marina all year. Others anchor out whenever possible, avoiding marina costs altogether.
Here’s what you might pay to dock full-time:
- Marina (monthly rent): $300 to $1,000+ per month depending on location and boat size
- Liveaboard surcharge: $100 to $300 per month (many marinas charge extra if you live there full-time)
- Utilities: Electricity, water, possibly pump-out services ($50 to $150/month)
If you anchor out or moor instead of docking, you can cut costs significantly. Just be ready for less convenience.
Some people combine both. They’ll spend months anchored off a coast (for free), then reserve a marina slip for a few months of easier access to land and supplies.
Boat Insurance Costs
This isn’t like homeowners insurance. It’s more like auto or travel insurance. You’ll need protection from storms, theft, and damage.
Here’s what you can expect:
- Policy cost: $300 to $2,000+ per year
- Depends on age, size, value, and type of boat
- Coastal locations have higher costs due to storm risk
Some insurers also require safety inspections or self-piloting certifications. You’ll save more by avoiding high-risk zones during hurricane season.
Maintenance and Repairs
This is a biggie. Boats break down often. Saltwater is harsh on everything. You need to budget time and money for regular care.
Common maintenance tasks:
- Hull cleaning and bottom painting
- Engine tune-ups or fuel system flushes
- Replacing batteries and wiring
- Fixing leaks and checking bilge pumps
Annual estimated cost: 5% to 10% of boat value
So if your boat is worth $50,000, expect to spend $2,500 to $5,000 each year on repairs and upkeep.
You can reduce costs by learning basic marine maintenance skills. Things like oil changes, filter replacements, or fiberglass patching can be done yourself with the right tools and YouTube tutorials.
Fuel and Engine Costs
If you own a sailboat and mostly use wind power, fuel costs stay low. If you’re on a trawler or powerboat, the numbers climb fast.
Typical monthly costs:
- Minimal sailing: $20 to $100/month (fuel for dinghies or short motoring)
- Regular movement (motorboats): $200 to $800/month
Prices vary based on location, boat size, and how far you travel. Planning slow, efficient routes can help lower fuel bills.
Living Expenses Aboard
You’ll still need to eat, do laundry, and pay for daily life. The category of “general expenses” remains, no matter your housing type.
Here’s what people typically spend:
- Food and groceries: $300 to $600/month per person
- Internet/phone: $75 to $150/month for mobile hotspots and boosters
- Laundry: $20 to $50/month (unless your marina includes laundry)
If you work remotely aboard your boat, invest in a reliable mobile hotspot and Wi-Fi extender gear. Many marinas do not have strong internet access.
Boat Lifestyle Extras
Boat life brings extra expenses others don’t face:
- Dinghies and motors for coming ashore
- Snorkel, dive, or water toys
- Fishing licenses and gear
- Charts and navigation tools
These vary widely based on your hobbies. The more you sail or cruise, the more you’ll spend on extras to enjoy the boat life fully.
Is Living on a Boat Cheaper Than a House?
It depends. Some people spend as little as $1,000 a month living on a boat, all included. Others top $3,000+ based on location and cruising lifestyle.
Here’s an example for a single person living on a modest sailboat in a mid-price marina:
- Monthly slip rental: $500
- Liveaboard fee: $150
- Electricity and water: $75
- Insurance: $85 (annual premium of $1,000)
- Fuel: $40
- Food: $450
- Misc (laundry, phone, Internet): $100
- Maintenance fund: $250
Total: $1,650/month
No mortgage. No property tax. No homeowner’s insurance. But plenty of surprise costs, especially when something breaks.
How to Make It Work Financially
Want to keep costs low?
- Buy your boat outright: Avoid monthly payments
- Find cheaper marinas or anchor out: Slashes housing fees
- Handle repairs yourself: Learn from forums, YouTube, books
- Work remotely or seasonally: Digital nomads thrive aboard with the right tools
- Live simply: Minimal stuff, minimal space, less to break
Many experienced cruisers budget $1,000 to $2,000 per month and live comfortably if they avoid luxury marinas and high-end boats.
What to Ask Yourself Before Buying a Boat
Before jumping in, make sure you’re really ready. Ask yourself:
- Can I handle small, unpredictable spaces?
- Am I ready to learn electrical and mechanical repairs?
- Am I okay being far from a grocery store?
- Do I really want to live on water year-round?
It’s not a permanent fit for everyone. Some liveaboards buy a boat, try it for a year or two, then go back to land life.
Real-Life Example: How One Person Manages It
Meet Lisa, a writer living aboard a 36-foot sailboat in Florida. She bought her boat for $42,000 and spent another $6,000 upgrading it. She splits marina time with anchoring out in calm waters.
Her monthly expenses:
- Dockage (average): $450
- Insurance: $70
- Fuel: $30
- Groceries: $400
- Miscellaneous: $150
Total: Around $1,100/month
She works remotely as a content writer, travels along the coast when weather permits, and enjoys life at a slower pace.
Her advice: “It’s not glamorous, and the boat always needs something. But with a laptop, solar, and the right mindset, it’s a good trade.”
Final Thought
Boat life can save you money. It can also surprise you with new costs you’ve never faced before. If you’re flexible and patient, it’s possible to live comfortably on the water for far less than most landlords or mortgage lenders charge.
Run your own numbers. Visit marinas. Talk to liveaboards. Then decide.
