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What expenses can you expect of you own a boat?

Owning a boat can be a great way of enjoying yourself; a boat is also something that all of the family can appreciate. If you are thinking about buying a boat you need to think about what type of vessel is best suited to your needs. Do you want a sail boat or a motor boat? How far will you be travelling in the boat? If you are travelling a significant distance you need to make sure that you buy a boat which includes some form of accommodation.

In this article we are going to take a look at what type of expenses you are likely to encounter if you decide that you would like to own your own boat. Hopefully, this information will be useful when you are making decisions about the purchase.

The cost of purchasing a boat

Obviously, the cost of purchasing a boat varies greatly, depending on what type and size of boat you decide to buy. It’s often more affordable to buy a previously owned vessel than a brand  new one. If you decide to do this it’s worth asking someone who knows about boats to take a look before you finalise the purchase.

It’s also worth remembering that maintenance costs can be higher for a boat that is second hand. It’s important to factor in maintenance costs when you buy your boat.

The cost of maintaining a boat

We have already mentioned how important it is to take account of the fact that you will have to spend money on maintaining your boat. If you wash your boat down with fresh water after use, and cover it for protection between uses, you should be able to reduce maintenance costs as much as possible. That being said, you should make sure that you have the engine serviced after every 100 hours of sailing or every year of ownership.

The cost of fitting out a boat

If you have just bought a boat you want to make sure it’s fitted out with all the essentials. You would be surprised at the electrical equipment you can purchase. You should seek help from expert marine electrical services, to see what you can buy for your vessel.

Storing your boat

You can easily save money on boat storage, by keeping your vessel on your property, if it’s fairly small. You may also want to consider dry, stacked storage. If you own a larger boat then you need to factor in the cost of keeping it at a marina.

Buying a boat can be less expensive than buying a car and you can often get help with financing. However, just as a car owner has to, you need to think about the expenses we have mentioned, as well as costs such as insurance. Do not be tempted to spend all of your spare cash on buying a boat and not have anything left to actually run it.

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