If you plan accordingly and understand all the complexities with owning a boat before you invest time and money in this lifestyle, you will enjoy your time on the water more. Too many people simply get the bug and have to own a boat, and then weeks or months later they wish they had really thought about their purchase because they’re drowning in debt.
Buying New vs Used
One of the most overlooked aspects of buying a boat is choosing a new boat or buying used. Before you say that you only buy new things, consider this for a moment. A used boat is not like a used car. It may have been placed in the water once, driven a few miles, and then the owner simply didn’t use it enough to warrant keeping it. We are talking a few hours of drive time on the motors, and you can get this boat for thousands less than if you picked it up at the showroom. Be sure you check around for bargains before you make your decision.
Storing Your Boat or Towing?
Another very costly mistake many boat owners make is assuming the boat has to be docked at the marina in order to get the most out of this lifestyle. While it is true that it is very convenient to be able to drive to the marina on a moments notice and jump right in your boat and go, it does come at a price. You better compare what a years docking fees cost compared to that of a trailer, because you could find yourself without a boat if you fall behind on your marina fees.
Fishing or Cruising the Seas
The other thing you have to consider is what you will be doing out on the water. When you are fishing or tubing, you have to buy plenty of equipment in order to partake in those activities. Be sure you set aside enough money to be able to afford these luxuries when it comes time to entertain guests.
So now you should have a better understanding of some of the costs involved with owning your own boat, now take a good hard look and see if you still think you have what it takes mentally and financially to become a boat owner. If you do, then full steam ahead on your new exciting boating journey.