Buying a Boat Isn’t Always a Bad Investment
Buying a boat is great. Whether you’re relaxing on the lake, riding the ocean waves, or just fishing on the river, there’s nothing better than owning a boat. Right?
Like most things in life, there’s more to owning a boat than all the fun you’ve envisioned. Just towing a boat can be a pain, and it can get costly, very quickly, and many former owners might enjoy going out on a boat, but think it’s too much of a pain to own one again. Is it truly all bad, however?
Owning a boat can be more expensive than you realized
According to Discover Boat Setter, before you rush off to buy the boat of your dreams, there are a few things to consider. Let’s start with maintaining your boat.
The type of maintenance your boat will require depends on whether you store it in saltwater or freshwater. You’d need to clean the bottom to keep off the barnacles and kick out any sea creatures that decide your boat would make an exceptional home in saltwater.
Freshwater is a better choice for storing your boat, but you have to keep an eye on the temperature. Freezing water can do more damage to your boat than you might realize.
You’ll also need to paint your boat every so often, as this will help maintain it. Painting it might seem like a mere cosmetic feature, but it helps sustain the ship.
Towing your boat also isn’t as simple as you might think. You’ll need a truck or SUV capable of hauling it. If you buy a huge boat and own a sedan, it probably won’t be powerful enough to tow it. There’s also a lot to take into consideration should you get into an accident while hauling your boat.
If you buy a boat and then decide you got in over your head, don’t think that you’ll get the same amount you paid for it. Just like cars, your boat will be hit with depreciation. This means that you’ll lose money either way.
There are perks to owning a boat
After all, if boats were just one pain on top of the other, there wouldn’t be a market for them. While boats can become incredibly expensive, you can offset the costs by renting it out. If you don’t want random strangers taking it out every weekend, try renting it to people you know and trust.
Go Down Size also pointed out that spending time on your boat can be great for stress relief. Whatever worries plague you at home may disappear for a few short, but precious hours as you get out in nature.
You can also use it to spend time with your family and friends. While some people get seasick just looking at a boat, for everyone else, it’s a great way to make some memories that they’ll remember for years to come.
Should you invest your money in a boat?
This is a question you’ll have to answer for yourself. There are a lot of factors to take into consideration, so let’s discuss them.
Boats, even the little ones, take up a lot of room. You’ll have to figure out if you have the space to keep one. If you live in an apartment and don’t live near a lake where you can dock it, then you might need to reconsider relocating. Or you can skip buying and rent a boat. You can enjoy it for a few hours and then turn it over to someone else to maintain.
There’s also the fact of maintenance and insurance costs. Do you have the time to maintain your boat? And what about those unexpected costs? Do you think you have enough when you see the MSRP? Are you prepared for the insurance payments?
There’s a lot to consider when buying a boat. That doesn’t mean you should skip on buying one, however. Just make sure you do your homework to know what to expect, and then make a decision. If you decide to go for it, here’s hoping you spend many beautiful weekends on the body of water of your choice.