How much is this ship going to cost?

I have being researching a LOT about how much I am going to need to save in order to buy and refit a seaworthy boat. Firstly, I want my boat to be as sustainable as possible, so wind power, solar power, and a water maker are priorities, although this will increase the upfront cost. I also read about a composting toilet, which I love the thought of, since I was hoping to be able to grow herbs, lettuce, and tomatoes on board. The issue with gardening on board though, from what I have read, is that you cannot transport soil through customs in many countries. I am curious if a composting toilet could get around this, but that will be a post for another day. With these 4 extras in mind, here is the rough budget I have come up with based on budgets I have come across.

Overall Budget                                                 Estimated
Boat                                                                     $30,000.00
Engine Room                                                    $14,000.00
Boat Yard                                                             $6,000.00
Electrical                                                              $6,000.00
Plumbing                                                              $2,000.00
Galley/Propane                                                   $3,000.00
Dinghy                                                                  $3,000.00
Anchors/Chain                                                    $3,500.00
Navigation Gear                                                  $1,500.00
Boat Equipment                                                   $2,000.00
Safety Gear                                                            $4,000.00
Tools                                                                        $1,000.00
Materials                                                                   $500.00
Cleaning                                                                   $1300.00
Spares                                                                         $500.00
Fridge                                                                       $1,200.00
Wind Generator                                                     $1,500.00
Rigging                                                                    $20,000.00
Lighting                                                                       $500.00
Charts                                                                       $3,000.00
Chart Plotter                                                           $2,000.00
Life Raft                                                                    $3,000.00
Miscellaneous                                                          $1,500.00
Survey                                                                           $500.00
Solar Power                                                               $8,000.00
AC Unit                                                                          $500.00
Water Maker                                                             $6,000.00
Total Refit Cost                                                   $126,000.00

This is definitely achievable if I save $600 every month for the next 20 years, but I also want to have money saved to live off of.

If I call it quits on land and am living entirely on savings, I need a large amount of money stored up! Dani and Tate, who write the blog Sundowner Sails Again (http://sundownersailsagain.com/costs/#fundingthetrip), Jon and Sue from The Hacking Family (http://hackingfamily.com/Cruise_Info/cruising_expenses.htm), and Pat and Ali from Bumfuzzle (http://www.bumfuzzle.com/2013/03/19/what-does-it-cost-to-cruise/) all estimated (or documented) approximately $3000 – $3100 a month on average needed for operating expenses and unexpected costs.

For me to take a 5 year expedition at $3000 a month, I would need $180,000 saved up. That comes out to $750 a month for the next 20 years. At minimum, I would need $1350 saved every month for 20 years to meet these goals, but more is better and a more solid number is just easier, so I am going to try to have my goal set at $1500 per month.

Now I just need to work on how to get that much money each month and make sure I save it, preferably in two separate accounts so that the money for the refit is spent on the refit and I don’t mess with the actual operating savings. I am thinking a long term CD is my best option for the operating cost, since I can’t touch it and it earns high interest! Stay tuned for any developments on how I am going to make this happen!

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