Factors to consider when buying a boat

EditorialRoom 20th December 2020

Factors to consider when buying a boat

Dreaming of cruising the open seas on a warm sunny day? If you are a first-time boat buyer you will want to make sure the proper research is done.  A boat represents a financial investment, so you’ll want to pick the boat that’s right for you. Below are a few tips to help you make the right boat-buying decision.

Ocean, lake, or river?

Decide what body of water you will be spending most of your time on and what kind of activity do you anticipate doing. Are you looking for serenity on the water? Then you probably want a sailboat. But if it’s more about a variety of fun-in-the-sun activities, a multipurpose model will better fit the bill.
Also consider the size of the boat you need. Do you have a growing family? Then you might need something with more than one cabin.

New Or Used?
This decision comes with pros and cons. A new boat can make sense if you have the budget, the new boats come with a warranty but as soon as you purchase it and drive it off the lot, it depreciates in value, just like any other vehicle. Buying used can be a much cheaper alternative.

What’s the Cost to Own a Boat?
Remember that aside from the purchase price you will have to consider registration fees, dockage, winter storage, maintenance, license, permits, fuel, gear, accessories. You’ll also need to allow room in your budget for boat insurance, as it’s important to fully insure your boat against potential damage and other claims.

Time for an inspection

Take a walk around the entire boat, making sure to check the integrity of the hull for cracks or any other damages. Check for leaks, corrosion, algae. spend plenty of time inspecting the exterior, interior and engine.  If you’re not sure what to look for then bring someone with experience. Insist on a full sea-trial before making any agreement, just like when you test drive a car.

Close the deal
Get out on the water and have fun! Make sure to keep up on regular maintenance to keep your boat in tiptop condition.

Categories : Boating
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