Beginner’s Guide to Buying a Boat

1. What type of Boat?

Before you jump into the world of boating you need to ask yourself what boat suits your requirements? Consider where and how you will use the boat. It seems logical enough but often buyers are inundated with the wide variety and different choices that it is easy to go off course. Remember boats are specialised and you need to decide how you want to enjoy the water.

To keep in mind:

• Who will use the boat? Is it to entertain and invite friends, or for family activities?
• What is the main purpose of the boat? Fishing, water sport activities (water skiing, wakeboarding, banana boating) cruising, short trip escapades or longer excursions
• How and when will the boat be used? Seasonal or year-round?
• Where will you keep the boat? Moored at the marina or stored

How much will it cost to maintain? Factor in expenses that are required to maintain a boat. (Initial costs – purchase price, and ongoing costs – registration fee, maintenance/repairs, insurance, equipment, petrol, dock fees)

2. New or Used?

There are pros and cons to buying new or used boat. It is important to keep your eyes open and do your research and look into both options. It all depends with what you feel most comfortable with, and how much you are willing to pay. Shopping around will enable you to make the best decision. Good value can often be found by buying online, at an Online Boat Show.  BOBBAS – BASCO’s Online Boat Buying and Selling Platform can help you access potential good value from boats online.

3. Going to market

When you are ready to start shopping, the best place to begin is online as you are exposed to endless amounts of information, pictures, prices, models, and at times even a virtual tour of the boat. This process may be rather daunting and time-consuming but will be an essential step in gathering lots of useful information to find the perfect boat for you. If you are new to boating or would like someone to bounce ideas off, consider a boat coach or a buyer’s adviser,  an independent and trusted adviser to help you choose and select the right boat.  BASCO provides an impartial fee-based (not commission based, where there can be a conflict of interest) advisory service for boat owners.

4. Boat Inspection

This is a crucial part of the buying process! With every major purchase, it is important to make sure you have the best value for your money and may want to consider having the boat surveyed by a qualified marine surveyor. If you are not convinced about a particular boat then start with a walk-through with an independent and Trusted Boat Buyers Adviser to assess any glaring damages. If all seems in order, then a sea trial is necessary to test all the components in action. If you choose to take it to the next level then a qualified surveyor will require that the boat is hauled out of the water to thoroughly inspect the vessel, above and below the waterline. In addition, most insurance companies will require a recent survey and it will also allow you to truly know your boat.

[Note: If you are a first-time boater who wants to find out the prices, the costs, the maintenance and the hidden risks of buying and owning a boat, you can click here to register to our free webinar – “Boat Ownership Secrets UNLOCKED”]

Related Article: Tips for buying a boat at Online Boat Auction