The Future of Recreational Boating: 5 Ways You Can Be Ahead of the Industry
Boats are both an investment and a luxury. If you do your research, maintain it well, and get a good deal then your boat can not only be an opportunity for fun, but also a chance for you to actually make money on the deal. You have to be wary though because boat dealerships and websites are like any. They are trying to make a quick buck out of you so follow this short guide and you’ll be sure to avoid any tricks and find the perfect vessel for whatever your needs.
1. Consider ownership and the costs carefully
Buying a boat isn’t like purchasing a piece of furniture. There are some serious costs that come along with it. Boats vary widely in price, but even the smallest watercraft needs a fair amount of TLC. Just like a luxury automobile, the more money you purchase it for, the more you will likely have to spend on upkeep. Look at the costs carefully and make sure they fit into your budget.
2. Calculate how many days you’ll actually be on the water
This is where a boat drastically differs from a car. Our cars we drive basically every day. On the other hand, the average boat is only on the water 14 days a year. That’s not very many and you need to ask yourself whether it is worth the hassle of storage, upkeep, and transportation if you are going to use it so little. Bottom line is that owning a boat is usually only worth it if you plan on taking it out at least most weekends of the year.
3. Remember that the boat is never paid off
If you go down the path of leasing/financing a boat or even if you buy it outright in cash you might think that besides buying the fuel you are all good to go. But there are tons of hidden fees. If you decide to store it at a marina then you’ll have to pay rent for a slip, there are insurance and maintenance as well. Your average monthly cost can be over $200 even if you don’t even take it out on the water and it’s paid off.
4. Use it or lose it
Leaving a boat unused in the water is like pouring money down the drain. This is doubly true if you are storing in saltwater. While you are not boating, your ship is slowly deteriorating in the water so keep this in mind.
5. Consider renting your boat
Renting out your boat is now easier than ever. With services like Boatsetter, you have a platform to market your boat online and connect with tons of potential customers. It is doubly beneficial because your boat will be in frequent use ensuring it is well maintained while you make money on the side. Many owners do well enough in fact that they not only essentially have a free boat whenever they want, but they make a profit on top of that!
Stay Ahead of The Game
With any purchase, it’s all about doing your homework. If you want to become a smart captain then follow these easy tips and not only will you be able to have a good time on the water, you will be able to do so without hurting your wallet.