Preparing to Buy Your Boat & “On a Budget”?

If you are making plans to buy your boat this year but you are on a budget, it is important that you know about all the costs you are going to have to pay out after you pay for the boat. Boats sale gurus over at advise to make yourself aware of these costs now, you can properly budget your money so that you won’t be burdened down the road.

Here are some of the more popular expenses you will be paying for this year.

1. Boat License and Insurance – Insurance costs can vary so do your homework and shop around before settling on just one company.

2. Fuel Charges – Fuel costs more than you might think, so be sure to set aside enough cash to keep your boat sailing along.

3. Boat Trailer – If you are not paying to keep the boat at a marina, you need to buy a trailer. if you buy a used boat, you could get a deal for the trailer..

4. Marina Fees – To keep your boat at the local marina you will have to pay a monthly or annual fee.

5. Maintenance Costs – Fixing and maintaining a boat can be very costly, shop around for a qualified mechanic to do the work.

6. Fishing Equipment – If you plan on fishing, set aside money for poles, reels, rods, bait, nets, traps, and licenses.

7. Water Fun – In order to have fun on the water, you will need to buy water skis and tubes.

8. Winterizing – To keep your boat safe and secure during the cold winter months, you will have to get the boat properly winterized.

9. Safety Equipment – Safety is paramount when you are taking people out on your boat. You must invest in plenty of life jackets for all passengers, and it doesn’t hurt to invest in a boating school or safety program.

10. Weather Radio – Things can go bad in the blink of an eye out on the water. A good satellite weather radio is an absolute must.

11. Depth Finder – Fishing gets that much easier when you have a depth finder on board.

12. Repair Costs – Set aside some money now in the event something goes wrong like you go aground and need the hull repaired.

If you can set aside enough money at the start to cover the majority of these expenses, then you are miles ahead in the game and will get the most out of each time you and your friends head out on the water with your boat.

For more info see this short video: