A couple sold their house to live permanently on cruise ships because they said it was cheaper than paying a mortgage | Latest News Headlines

• Angelyn and Richard Burk, a retired couple from Seattle, sold their home to live permanently on cruise ships.

• According to Angelyn, a former accountant, it’s cheaper than paying off her mortgage.

• On average, the couple spends $89 a day on cruises for accommodations, food and entertainment.

With just one suitcase each, a Seattle couple left their homes and jobs to live permanently on cruise ships.

Angelyn and Richard Burk have been enjoying life at sea since May last year and say living on cruises is cheaper than paying off their mortgage.

Video: The rise and fall of the cruise industry

“We love to travel and were looking for a way to travel continuously in our retirement that would make financial sense,” Angelyn, a former accountant, told 7News in Australia earlier this week.

The couple, who are in their 50s, have embarked and disembarked from various cruise ships to travel the world, including a 51-day trip from Seattle to Sydney, the outlet said. Some of their favorite ports of call have been Singapore, Italy, Canada and the Bahamas.

“When planning cruises, I try to stay on the same ship for as long as possible, as long as it’s profitable,” Angelyn told CNN.

Although the couple have set aside enough money to spend up to $135 a day, it often turns out to be much less than that.

“Currently, this year, we’ve run 86 cruise days with an average all-inclusive cost of $89/day for the two of us,” she told the outlet, which works out to $32,485 per year. “Which includes room, food, entertainment, transportation, gratuities, port charges and taxes.”

As frequent cruise passengers, taking advantage of frequent flyer programs has also helped the couple secure deep travel discounts, she added.

According to Zillow, the typical home value in the Burks’ hometown of Seattle is $984,863, and the cost of homes in the area has risen 17.8% over the past year. The average monthly cost of a 30-year fixed mortgage with a 20% down payment in the city is around $5,034 per month, or $60,408 per year.

The story continues

“We don’t plan to live permanently on earth in the future,” Angelyn told 7News.

“Where can you make your resort take you to different countries while relaxing by the pool or sleeping in a comfortable bed?” she told CNN.

Insider reached out to Angelyn Burk for comment.

Read the original Insider article