Boat buying is as easy as finding boats for sale, throwing cash at a boat dealer, and instantly hitting the water on your brand-new vessel to go on your sailing adventure, right? Sometimes, it’s that easy — but generally, it’s more complex than that.
Buying a boat is something that several people dreamt about doing, but most tend not to know about the ins and outs of purchasing a new water vessel. Along with buying one, you will also need to register, insure, operate, maintain, and store that investment properly to ensure it will last.
From diving, sunbathing, and fishing to sailing and exploring islands — owning a boat seems to open up endless possibilities! You will first need your own boat to experience this kind of luxury. Before that, here are essential tips you need to consider about boat buying:
Choose the Boat Type
When it comes to choosing the boat type, there is no right or wrong answer. Depending on what’s important to you and the boat’s intended use, you should be able to conclude your best choice.
Each boat type has its specialized uses. Knowing what these are can help you come up with a decision.
For instance, a sailboat is perfect if you want to enjoy sailing and being in close tune with nature. A powerboat is ideal for those who seek the thrill of speeding through the water. On the other hand, a human-powered vessel would suit those who want to be close to the water and explore hard-to-access places.
These three boats are the primary boat types to consider. From there, there will be numerous subcategories to go through — which you can narrow down by looking through the engines, add-ons, seating options, designs, electronics, and general layouts.
Determine If You Prefer a New or Pre-owned Boat
Now that you are consciously aware of what boat type to look for, you will need to decide if you prefer a new or used boat. Like most items, a new vessel typically comes with a warranty.
You might wonder why this is important. Well, there is nothing more disappointing than buying something expensive only for it to break after a short time.
Meanwhile, while a used boat does not have a warranty, it does offer the same kind of enjoyment that a new vessel provides — only at a reduced and cheaper price! It is just a matter of finding one in good and well-maintained condition!
Hire a Reputable Broker
If you have a generous budget, hire a reputable and good boat broker. A broker would bring a wealthy body of knowledge to the boat-buying process.
They will also help you understand the different makes and models of boats. Moreover, they likely have networks and contacts with other brokers to help gather more relevant information.
Like a car broker, having a boat broker can save you time, effort, and worry. Aside from acting as your voice of reason, a broker can conduct thorough market research, provide you with the necessary experience, and ensure you get the right boat at the best possible price.
Browse Through Listings or Attend a Viewing/Boat Show
Once you are ready to do boat shopping, turn to the best place to start — online! The internet will provide you with an almost endless list of choices, allowing you to compare prices and models. You can even take virtual tours without needing to leave your house!
If you prefer face-to-face viewing, you can visit a local boat show and experience firsthand the boats that caught your eye. Make sure that you consider all the choices available.
You can start by looking for boat shows near your area. If you have a broker, you can ask them to interview the seller. Since they have more experience with boats, your broker would be able to scrutinize every vessel and look at it with a professional eye.
Negotiate the Price
Before going through the price negotiation, it is worth doing thorough research first. Talk to your broker and read through boat-buying articles to learn how to negotiate prices.
For both new and used boats, you will need to compare prices for similar models currently on the market and consider the ones on viewing.
Areas you might gain cost reduction include:
- List of upgrades or replacements you will need to make and the cost they will rack up.
- The value of the electronics.
- Use the information given to you by the surveyor and utilize the faults and flaws you pick up.
Get the Best Boat Insurance
Properly insuring your boat is a must since boats are expensive investments. While the homemaker’s policy offers some coverage, it might not be enough in some cases. Talk to your insurance agent and learn more about the following coverage:
- Property damage liability
- Collision damage
- Comprehensive
- Bodily injury liability
- Additional coverage options
Do a Test Drive
A test drive or a sea trial is your chance to experience everything about the boat. By doing so, you will be able to feel the vibrations, hear the noise of the vessel, and get a general sense of the handling and feel of operating the boat.
It is much more common to undertake a sea trial when buying a new vessel, rather than a pre-owned one through a private seller. If you get as far as undertaking a sea trial, it is safe to assume that you are content with the spec, features, price, and performance.
The sea trial will, of course, depend on the sea conditions and weather — but it will offer you a true picture of what it would feel like to be the boat’s owner.
Conclusion
Owning a boat is a huge responsibility. You will be responsible not only for maintaining the boat but also for keeping the people aboard safe. Expect that you will be pumping money into it, and unless you are conducting charters, you are likely not getting any in return.
However, owning a boat does come with an amazing experience since you can now sail the azure waters. The ocean is a magical place with endless areas that remain unexplored.
There are countless underwater treasures to find and hidden islands to traverse, along with fun water activities to do! All this will come with buying and owning a boat.
