'I lived on a boat with my family of 5 for 4 years. It was cheaper than living in Australia.'

Can you imagine living on a 47-foot yacht with your family of five for four years?

Imagine the close living quarters, the effort of homeschooling, and learning how to operate a boat. But also picture the unique memories made as a family, the bonds solidified, plus the incredible sights and destinations you would get to see. 

Erin Carey, her husband and their three boys made their dream a reality. From early 2018 until late 2022 (with a short gap in between to see loved ones) the family lived on a 47-foot yacht overseas, sailing throughout the Caribbean and the Mediterranean. 

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It was something Erin and her husband had been interested in doing after watching a documentary on 14-year-old Laura Dekker, who set out on a two-year voyage to become the youngest person ever to sail around the world alone. 

"We saw that documentary in 2015, and for the next few years planned out a way for us to do something similar as a family. But neither of us had a significant amount of experience on boats," Erin told Mamamia. 

"Initially, we didn't have the money saved to buy a boat, so we put a lot of time and effort into figuring out budgets and how to do it feasibly. We started doing the research and saved our money. Three years later after leaving our jobs, we were off."

Their wider family and friendship circles were "a little bit dumbfounded" by their decision.

In February 2018, the family flew out of Australia on one-way tickets to Grenada in the Caribbean. At the time, the couple's boys were aged five, four, and one. It was certainly going to be an adventure. And not a cheap one either.

The main cost was the boat itself, which they bought in Grenada for US$90,000.

The additional costs while living on the boat overseas included fuel, occasional mooring, groceries, and boat repairs.

They didn't have to pay a mortgage or rent, pay for their cars (fuel, rego, insurance, etc), electricity, water, or gas.

On the boat, they generated electricity from solar and wind power. They anchored in most places, meaning they didn't have to pay to moor their boat at a marina - only doing this on the rare occasion, at around $50 per night. As for fuel, Erin said it cost them around $500 each time they needed to fuel up, which was around every five months. 

Image: Supplied.

"The only other major expense was servicing the boat. They say to allow around 10 per cent of the value of the boat per year for fixes and repairs. So we'd save $9,000 annually in case it was needed for the yacht," Erin said.

Given her husband is an aircraft technician by trade, he had the skills to learn how to manage the yacht, Erin saying it was a "baptism of fire" for the whole family.

"We did have savings, but didn't want them to deplete too much. So I decided to start a PR agency company, Roam Generation PR, as I was missing being able to use my brain and wanted to make some extra money for us. I was able to do everything remotely, and ran the only PR agency in the world from a boat," Erin said. 

"We could survive on one wage very easily while travelling the world full-time. And internet access was fine. The only time we didn't have it was when we sailed across the Atlantic Ocean."

As for the three boys, they loved life on the boat. They would swim, fish, dive, and lived a very carefree life. Homeschooling wasn't all roses though, with Erin saying it was the one thing she hated the most when it came to 'boat life' with kids. 

The family budgeted to live off around $50,000 a year while on their overseas sailing adventure. And for the most part, they managed to stick within ballpark figure. 

For a lot of families in Australia right now, their annual rent or mortgage repayments alone would cost near or upwards of that number.

In November 2022, the family returned to Australia and settled in Adelaide. And it's been quite the financial eye-opener for Erin.

"In Adelaide, we wouldn't be able to even get through one week on the same wage we were living off for a month while sailing. We are renting now, and the cost is crazy. Then we noticed how expensive the food is as well. Eating out is insane. We're now planning on selling our boat as well in Grenada."

It was the kids in the end who asked Erin and her husband if they could permanently stay in Australia, eager to experience a normal school environment. 

"We of course said yes, so we have decided to set up here. I think physically going to school five days a week has been a shock for them, but they're excited to make those solid friendships and do regular tween and teenager stuff. I know it was the right thing to do. There are some moments where I miss the freedom though."

As Erin said, it's a completely different lifestyle.

"Yes, life is easy here because you have hot water, cars and dishwashers and family around, but it's also stressful. It feels like a constant rush. Even with kids' uniforms, having to make them look 'presentable' to fit in with normal life. We're not used to that."

Image: Supplied.

For the time being, they'll call Adelaide home. But perhaps once the boys are older and have flown the nest, Erin and her husband will largely consider going sailing again.

"A lot of people say, 'I could never do that'. Yes, it's challenging. I acknowledge that the money we lived off annually [$50,000] is not something everyone could afford. We would consider ourselves 'middle class' in terms of earnings, and boat life is more accessible to people than they realise," Erin explained to Mamamia, noting there's a big difference between their average boat experience and a luxury mega-yacht trip in Monaco. 

"It took research and budgeting but we managed. I can tell you 100 per cent that living on a boat and travelling the world full-time costs less than living here in Australia."

As for the cons of boat life, Erin said the main downsides were homeschooling the kids, not being close to extended family, fixing the boat when it needed repairs, and not having a dishwasher or hot shower.

But for her and her family, the four years they spent abroad on their boat were some of the best they've ever had.

"It's a much slower pace of life on a boat. The freedom you have, the people you meet who are very like-minded and have interesting backstories. Spending so much time with our kids and seeing them grow up. It's a time we'll never get back. And one we'll never regret."

Feature Image: Supplied.