Congratulations! The fact you’re contemplating buying a yacht or a speedboat or any similar vessel means you’re not only well-off but also ambitious, energetic, and adventurous. You’ve recognized that boating is not just a hobby, but a way of life, to be quite honest. You’ve probably already talked to various boat owners and picked their brains a bit, but you might still be uncertain about what boat would be right for you. If that’s the case, take a look at the following guidelines for choosing the right boat for you.
Step 1: Set your budget
Like with most other investments, such as real estate and cars, you have to look beyond the price of the boat. Namely, you have to take into account factors like insurance (it would be unwise not to protect your investment). If you’re buying a yacht that can be used as a second home, you might be eligible for the tax deduction, but you need to check with a professional tax advisor. Next, there is a boating registration. Depending on where you live and whether you’re registering your boat in your state of residence or internationally, the amount of money you need will vary.
Finally, there is berthing. You need to have a place where you’ll berth or moor your boat. Make sure there is enough space for your boat and choose wisely. So, once you’ve established how much all those other costs are, you can move on to selecting a boat you can actually afford.
Step 2: New or pre-owned?
While it’s now easier than ever to have a custom-designed boat, the price may be above your budget. That doesn’t mean you should give up on the idea. Instead, take a look at pre-owned boats. You might easily fall in love with a boat that has some history and unique charm. However, you need to be ready to invest a certain amount of time and money into making your newly purchased boat seaworthy. The element of time is one to consider at this stage. If you want to design your own craft, you need to be ready to wait for months or even years for your dream to turn into reality. Can you wait that long? The same can happen if you buy a boat that needs a lot of work before it’s able to sail again.
Step 3: Maintenance and management
There are many factors that influence the amount and cost of maintenance required. The size and your interest in running and maintaining your boat are just some of them. Think about how much time, skills, and will you have to perform maintenance on your own. Apart from saving some money, you’d be able to better understand your boat inside and out, but not everybody can do it. Also, the material used to build your boat plays an important role when it comes to maintenance and management. Older boats with wooden parts definitely require much more work than modern rigid inflatable boats, such as the stylish Ribco. So, take these things into consideration, as well.
Step 4: Location and docking
Another element you should be aware of relates to docking and storage. Do you plan to dock and store your boat close to your place of residence? Is it going to be docked in warm or cold climates? Where will you dock it during the off-season? You may be surprised to find that cruising to a remote place at the end of the boating season to store the boat is less expensive than keeping it close to where you live! Also, you need to secure a berth at the marina you’re interested in well in advance. Finally, consider water depths and other obstacles for longer crafts. You should avoid issues getting your boat in and out of storage, such as fixed bridges, shallow water depth, and unmarked areas for water access. Your boat’s hull or overall size has to allow for safe and reliable passage to the berth you’ve chosen.
Step 5: Consult an expert
If you’ve never owned a boat, we strongly recommend hiring an experienced broker or someone who knows much more about boats than you. They can help you not only select the right type of boat but also point out possible flaws in a boat you thought was perfect. A first-time buyer is often misled by some unrealistic expectations regarding their purchase, which is why having someone with knowledge and experience by your side can help you make the right decision.
Buying your first boat is an amazing experience, which can potentially lead to a life filled with unforgettable memories. However, for that to happen you need to follow these tips and choose your first boat carefully, since a failure to do so will confirm what those who don’t appreciate boating say with malice, “Every boat owner is happy twice. First, when they buy the boat and then again when they sell it”.
Fiona Wood is a lifestyle blogger based in Melbourne, Australia. She is a fan of beauty, healthy lifestyle and above all our mother nature. In spare time she plays tennis and travels around the world.
