One of the ways to ensure the time owning your boat will be memorable is to know before you make this big purchase what the total amount of money you will eventually need will be. Assuming you will need a few bucks above the cost of the boat is not money conscious, and can ruin your enjoyment as you feel like you are throwing money in a hole soon after you get the boat home. Here are a few additional costs you need to factor into your monthly budget.
1. Storage Fees – If parking the boat at the marina, shop around to see which facility has space and what the costs will be over the year. many marinas are full for the year, so get on this as quickly as possible.
2. Maintenance Fees – To keep the boat in the water, it needs to be maintained like you car, so factor in some maintenance costs.
3. Safety Equipment – You’re going to be responsible for every person’s safety, so life jackets are just one of the safety devices needed.
4. Boating Paperwork – There are going to be fees associated with paperwork like permits and licenses, depending what you plan to do.
5. Boat Trailer – If you are going to forgo storage at the marina, you have to be able to tow the boat home each trip to the docks.
6. Boating School – It is well worth the additional money to attend boating school and gather any insights about being out on the water.
7. Winterizing Fees – There are costs involved with wrapping the boat to keep it safe during the colder winter months out of the water.
8. Fishing Equipment – Consider the cost to buy all fishing gear and accessories so your fishing trips will yield huge scores.
9. Fuel Costs – The cost to fuel your boat each trip can be costly, be sure to consider this additional cost for each trip on the water. Some of the more popular boats available like Sea Ray boats for sale, have newer and more efficient motors and drive systems.
10. Boat Insurance – Accidents happen, and hitting a dock, boat, or coral, can damage and sink the boat and your investment without insurance.
11. Taxes – Be sure you find out if your boat is considered part of the luxury tax or you will be paying big time come tax season.
These eleven tips for understanding the boating costs involved with your new purchase will allow you the opportunity to create a budget and set aside the money needed to take care of all these issues. Better to learn about them now then after your boat is in the water.