Can You Afford To Own A Boat?
Saving up the money to buy the boat in the first place is tough, but you can get some good discounts if you buy second hand. However, you need to think about whether you can actually afford to own a boat before you’ve bought one.
There are a lot of costs you need to cover if you want to keep your boat in good working order, so it’s worth adding up the numbers first. If you buy a boat that you can’t afford to maintain, it will fall into disrepair and your money will be wasted.
Boat storage is one of the big costs to consider, especially if you store it at a dock. On top of that, you need to think about boat maintenance, which is a lot of work and can be quite expensive. If you don’t keep up with regular maintenance, your boat is prone to damage, which is another big cost you have to cover.
You will also need a lot of gear to use when sailing your boat, and the cost of everything quickly adds up. Things like life jackets, fire extinguishers, rope, boat covers etc. can all be expensive and many new boat owners forget to account for this cost.
Whenever you buy something expensive like a boat, you should always get insurance. This will cover you for any damage from fires or accidents, and it will protect you from theft too. You may also need insurance to cover you for injuries sustained during boating accidents. If you don’t have comprehensive insurance, you could end up paying a lot of money in the future, so make sure that you can afford the best policy.
If you want to make your travel dreams come true with your own boat, make sure you think about these things first.