Sailing the oceans on your own boat is the perfect way to escape the stresses of life and see the world. You may think that owning a boat is the stuff of dreams but it is an achievable goal for so many people. With international travel restrictions beginning to lift with the successful development of Covid-19 vaccines, now is the perfect time to invest in a boat so that you can visit all the places you have always wanted to go.
Purchasing a boat is a big commitment, so it is very important that you know everything that goes into it. Every boat owner had to start somewhere so don’t worry if you are just getting started, because we are here to help.
To give everyone looking to travel on their very own boat, here are our top four boat buying expert tips.
1. Identifying the Boat Which Is Right for You
The first expert tip for buying a boat is to identify which type of boat is right for you. There are so many different types of boats offering a different sailing experience that you need to consider which one best suits your needs. Some people want a boat for fishing, while others want to travel the world or host boat parties. If you are new to boating, you may want to consider speaking to other more experienced boat owners to find out what they have.
If you don’t know anyone who owns a boat, you can join your local sailing club or speak to boat owners on online sailing forums. After that, you can make an informed decision about the engine size you need, the technical specifications of the different options, and all the other features that are available.
2. Consider Your Boat Budget
When you are purchasing a boat, it is crucial to note that it isn’t just the original price of the boat which you need to figure into your budget. In addition, you will also be facing moorage costs, operational fees, and the cost of regular maintenance and repairs.
Owning a boat can be a big financial commitment so if you don’t want to get your fingers burnt, it is very important that you set a realistic budget and stick to it. There are various guides online which give an in-depth breakdown of everything involved in buying a boat, but one of your biggest considerations has to be financing. Of course, there are other things you should consider as well, but the financial aspect has to be one of the first things to consider.
3. Look at Different Financing Options
There are various financing options available depending on how you want to pay. If you have the money, paying for the boat outright will mean that you won’t have to worry about any future payments. For most people, however, a boat loan can be the best choice out of all the marine financing options, as the majority of us don’t have all the money to pay upfront. You will need to show that you have a good credit rating, that you have a history of paying back loans, and that your monthly income is sufficient to make the repayments.
4. Research the Best Deals
There are various boat dealers available offline and on the Internet. The price of similar boats can vary significantly based on the dealership, the salesperson’s commission, and how well you are able to negotiate. With a boat being such a big financial investment, it is very important that you don’t rush into a purchase. Research all of the options available to you. Compare the different boat models, work out the costs after moorage, insurance, and operational fees, and see which dealership offers the best value for money. Make sure you ask about warranties and future repairs to find out what the dealer is prepared to cover.
5. Seek Expert Advice on Anything You Don’t Know
If you are a novice boat buyer, it is impossible to know everything that comes with making the right purchase. It can be very easy to let your heart rule your head and to buy a boat that is out of your price range or isn’t suitable for your needs, but if there is anything you don’t know then you should ask for help. Smaller boat dealers may have some room for negotiation when it comes to price but you should still get the opinion of an expert about whether it is a good price you are being offered.
Owning your own boat to travel the world is real fairytale stuff and it is a real possibility for so many people. Choosing the right boat, making the right financial plan, and educating yourself on everything you don’t know are all vital elements of making a successful process. Follow these four expert tips and you could soon be exploring the world’s oceans on your very own boat.