Boat Buying: What to Consider Before Buying Your Dream Boat

Have you been thinking about buying a boat? Maybe you’ve spent the day out on a friend’s boat? That’s typically how most boaters contract the very contagious boating bug. Visiting a local boat show or walking the docks after dining at your favorite waterside restaurant are other sure-fire ways of becoming contaminated with boat envy.

Before you run out and make an offer on your dream boat, there are several things you’ll want to consider. Keep reading for some hints and tips on buying that boat you’ve been eyeing.

Type of Boat

Photo: Sandy Allen

Think about where you’ll be boating and what you’ll be doing. If you enjoy fishing in your local lake, a bass boat might be the answer. Enjoy waterskiing, wakeboarding and towing the kids in tubes on inland rivers and lakes? A bowrider, dual console or ski boat is a good choice. Boaters who live near the Atlantic Ocean or Gulf of Mexico enjoy sportfishing boats and center consoles for getting out to the reefs for snorkeling, diving and deep-sea fishing.

Usage

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It’s a good idea to consider how often you’ll be using the boat. If you have a busy work schedule, you probably won’t be able to use it as much as you’d like. Boats that sit in storage or in water at boat dock rentals for long periods of time can develop problems and maintenance issues. Between the time and cost it takes to maintain a boat, it might be a better idea to rent a boat.

Cost

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The initial purchase price is just the beginning when it comes to boats. You’ll need to think about costs like routine maintenance, unexpected maintenance (and there can be lots of that one), insurance, boat slip rental and storage fees and winterizing, among other things.

Legal Documents

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You’ll need boat insurance before you set out on the high seas. Traditional auto insurance companies like Geico, Progressive and Allstate offer insurance plans for boats. You can even get insured through BoatUS. In most states, you need a boating license to operate a boat, so be sure to find out the regulations in your state.

Storage

Photo: Sandy Allen

There are a variety of ways to go when deciding on storage. With small boats, you can keep it on the trailer in your driveway. This is the least expensive option and a great choice if you frequently travel to different locations and like the convenience of having your boat ready to go. Of course, if you have a large boat that’s not trailerable, you’ll have to go with an off-site or on-water boat slip rental.

Other boat storage options include a high-and-dry, a marina or a private boat dock rental. If you want to keep your boat in the water, and near the areas where you like to boat, private boat slips and lifts near you are one of the best options out there. They’re typically less expensive than a traditional marina and offer more flexibility as far as rental agreements.  

Hopefully this has given you some good advice to think about before purchasing a new (or new-to-you) boat. Whether you decide on a bowrider, a center console or a sporty speed boat, the water’s waiting. Happy boating!