Tips and Tidbits

Boat buying made easy

So, you’re thinking about buying a boat. It’s an exciting time! Believe it or not, winter is the prime season to get started. Whether you are making your first foray into boat ownership or thinking about trading in your current boat for another option, it’s always smart to do some homework. It’s also important to get a clear picture of what the total cost of ownership will be. Start your research by considering the following 10 questions and you’ll be ready to enjoy a new boat, and a whole lot more, this summer.

1. How will I use my boat?

Before you do anything, you need a clear understanding of how you plan to use the boat most often. If this is a family decision, you want to get consensus among the “crew.” Will this be a fishing boat? A cruising boat? How about a watersports workhorse? If you’re like most people, odds are the answer could be a little bit of everything. However, setting priorities is a great first step for deciding on the size and shape of the boat you need. Use this handy boat selector tool to help you hone in on the model type that’s right for you.

2. What is my budget?

Obviously, you need to decide how much you can comfortably spend. What isn’t always obvious, however, is the total cost of owning a boat. The boat itself will have a purchase price, but how much fuel does it use? What other equipment will it need? How will you transport and store it? Some of the questions that follow will help you figure out your total budget.

3. New or pre-owned?

As with cars, some people swear by new boats and others contend that a pre-owned boat that has been cared for well by its previous owner is the best way to find quality at a lower price. It’s all personal preference. However, there are a few questions anyone considering a pre-owned boat should ask: What’s the condition of the engine (how many hours has it run)? What is the condition of the hull (any blemishes, cuts, scrapes, etc.)? What’s the condition of the prop? Regardless of your answers to these questions, it’s always smart to hire a certified marine surveyor to conduct a thorough inspection of the vessel.

4. How much will I spend to maintain the boat?

Sure, everyone’s answer to this question is “as little as possible.” But the truth is, some boats need to be babied, and some boats are built specifically for the “hands-off” owner. In general, the more “high-performance” your engine is, the more maintenance it will require.

5. How am I going to move my boat from place to place?

Or perhaps, more appropriately, are you going to move the boat from one body of water to another, or are you going to use it in one place for the season? Also ask if your vehicle is capable of towing a boat and trailer. These questions are important because they dictate what type of trailer you need, and if you will be able to use it at all! Often, a trailer comes with a new boat, but be sure it is capable of handling the workload you intend to use it for.

6. Where am I going to dock/moor my boat?

Simple question, but it’s important to ask for three reasons. First, if you don’t have your own dock or mooring spot, you’ll have to pay a slip fee at a marina, and that’s an expense to factor in. Second, you’ll want to secure your investment from theft and the elements as much as possible. Third, how and where people will get in and out of your boat dictates what kind of lines, fenders, ladders, tender and other gear you may need. If you do plan to store your boat on a trailer during the season, you should price out marinas’ and storage facilities’ fees, and/or also be aware that local ordinances can limit how and where boats can be stored at a residence or business.

7. Where will I store my boat?

When you take the boat out of the water at season’s end, where will you store it for the winter? Are you going to winterize and store your boat yourself? Will you store it inside or outside? Will you pay to store it at a marina? Whatever your plan is, understand that winterizing and dry storing your boat properly is crucial for your boat’s longevity and protecting your investment.

8. What extra gear will I need?

If this is a fishing boat, will you need a trolling motor, a fish finder, a live well and a boat cooler? The answer is probably yes. The question is whether or not these items are included in your boat package or if they are added costs. The same is true for the cruising boat that might need advanced navigation electronics, the ski boat that needs specialized tow bars, etc.

9. Boat shows or dealers? Or both?

A good place to start is a boat show - hundreds are held around the country each year (usually in the winter). By comparing a variety of options in one place, you can get a feel for what boat will suit you best. Boat shows are typically one of the best places to shop, compare and save; however, it’s also important to develop a rapport with a local marina to help manage costs and maintain your boat over time.

10. Can I operate my boat safely? And do I understand local rules and regulations?

These are the most important questions of all, and they go hand-in-hand. Of course, you must have all the appropriate safety gear—life jackets, throw lines, fire extinguishers, etc.—factored into the purchase and maintenance costs of your boat. But your most important safety asset is your own mind. Educate yourself on the rules and regulations pertaining to the waters you plan to boat. Take an online boater’s safety course (boatus.org; boatingbasicsonline.com; boaterexam.com), either as a primer or a brush-up. They’re free, convenient, and they just make sense.