Nothing has that appeal of being able to climb aboard your very own boat and drive to new places each weekend. Perhaps you want to find a new fishing spot, cruise to a new restaurant, or have fun tubing on the open seas. Before you put on your captain’s hat, make sure you are aware of these common first time boat buying mistakes from our friends at Boatmo.com – Check them out when you get ready to buy or sell your boat.
1. Buying Too Big a Boat
The appeal of boating was too much, so you went big imagining all the fun you and your friends would have each weekend. Two months later you are all alone on the boat with your huge monthly payment wondering why you have so much boat that you don’t need. The first time boat buyer should always go small. If you love boating next year, sell and jump up to a bigger boat.
2. Forgetting Those Other Expenses
Most first time boat buyers are familiar with their insurance and boat payments, but forget to take the time to analyze what other costs are going to soon be mounting. In no time at all you will feel like you are already underwater when you need to start setting aside money for repairs, maintenance, storage, towing, registration, license, insurance, fuel, oil, safety equipment, gear, and dock fees.
3. Skipping the Safety Lecture
Skipping out on safety courses is not like skipping out on a class in high school. If you are not aggressively taking the time to learn about boat safety today, then when things go bad on the water you will never be prepared to weather the storm. Things will go wrong on the water in the blink of an eye, from a fast moving storm, rogue waves, to obstructions under the water that damage the boats hull.
4. Losing Interest Fast
Don’t buy a boat on a whim because that is what you feel excited about this month. Go to a fee boat shows first and hang out with friends on their boats or on a rental. Make sure this is the lifestyle you enjoy because it will be too costly to just get bored with next month. If you hang around boaters and really love the life, then go for it and buy that boat.
Making a mistake in boating will not only set you back thousands of dollars, someone can get hurt. Boating can and will be fun and exciting for you and your friends if you take the time in advance to do the little things many folks are not willing to do.
For more information on boat buying and other usefull consumer spending tips visit: http://www.bloomberg.com/consumer-spending/2012-05-15/the-real-cost-of-owning-a-boat.html