Many people dream of owning a boat. I mean, what’s more relaxing than spending a day on the lake watching the sunset, fishing with close friends, or going on a family trip to the lake?
But the reality is that a boat represents a significant financial investment, and there are a few essential things to consider before purchasing one. Being a more knowledgeable buyer will ensure that you get the right one for you and your family’s needs.
So if you are planning on buying a boat, be sure to consider these 5 things before going forward with your purchase.
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1. Determine what you’re going to use it for and how often.
Before buying a boat, the first thing you should do is ask yourself: what am I going to use it for? Is it for wakeboarding, water skiing, or simply for a bit of R&R?
There are hundreds of different ways to use a boat, and your intended use will dictate the type of vessel you’ll require and how often you can use it.
Most people want a boat for the following reasons:
- Going on relaxing weekend trips with the family
- Swimming and water sports
How you’ll use the vessel will also influence how often you will use it.
If you plan to use it for fishing, consider how long the fishing season in your area lasts. When’s the weather and temperature excellent for water sports and swimming? How often does your household and personal schedule allow for getaway trips and boating activities at your local waterway?
If your job and other responsibilities don’t allow you the luxury of using the vessel regularly, it might be best to hold off on buying it for the time being. Because even if you don’t use it often, you still pay for things like storage and insurance.
2. Is a boat suitable for your area?
You also need to consider your accessibility to boating waters nearby. Do you live near a lake which you could use for boating? Are those bodies of water appropriate for what you plan on using your boat for?
For instance, is the nearby lake safe for swimming? Are there any restrictions on fishing? Ideally, you want to have easy access to at least two or three water bodies to make the most out of your investment.
Additionally, you need to think about boat storage options in your area. Are there marina, docking, and slip options around? And if you’re going to trailer it, do you have a place in your property for 40 feet of trailer and boat?
3. What type of boat would be the best for your needs?
You need to think long and hard about what type of vessel would best fulfill your needs. There are dozens of options available to choose from, including motorboats, fishing boats, ski boats, yachts, and rigid inflatable boats (RIBs). Check out this website for inflatable RIBs for sale.
To make it easier to determine which type of boat will be best suited for your needs, keep these factors in mind:
- Use: Each type of boat serves a different purpose. Similar to how you wouldn’t use a sports car for off-roading, you wouldn’t choose a bass boat for wakeboarding. The type of vessel you decide to purchase should be suited to what you’re going to use it for.
- Size: How many people do you expect to be on board at a single time? Do you need extra storage space for fishing gear? Do you intend to sleep on board? The answers to all of these will influence the boat size you will need.
- Budget and maintenance: Your available budget also plays a huge part in deciding what you eventually go with. New and old boats are both viable options, but used vessels often have higher maintenance costs due to needing more repairs than newer ones.
Lastly, storage also plays an important role. Will you be towing it back and forth using your SUV or truck? Does the vessel need to be stored in a specific storage unit area or on a trailer?
Make sure you write all of these factors down so you can be very clear about the type of vessel you need.
4. The total costs of owning a boat.
You don’t just pay for the boat. You pay for everything it takes to maintain, operate, and store it. How much all of this costs, though, can vary significantly depending upon the size and sophistication of the boat, and whether you buy it used or brand new.
Simpler and smaller boats are usually cheaper to own overall. The up-front purchase cost is less, the fuel usage and maintenance generally cost less, insurance is more affordable, and you may be able to trailer it rather than having to keep it stored at an expensive marina.
5. What kind of insurance will you need?
Just like any other financial investment of yours, it’s crucial to insure your boat against any potential damage.
The cost of boat insurance varies greatly depending on a few factors, such as the size and type of the boat and the coverage you go for. Boat insurance can cover everything from physical damage to reimbursement for emergency assistance.
Before going ahead and purchasing a boat, consider getting a quote for potential boat insurance costs. This can help you better estimate the total expenses of owning a vessel.
After you have considered all of the factors above and you are about to decide on the type of boat to purchase, you can start to visit boat dealers, check out online listings, and even online auctions for different types of boats and watercraft. You can find out more at https://www.crankyape.com/