Your Baby Steps into Owning Your Own Boat

Your Baby Steps into Owning Your Own Boat

Planning on buying a boat? There are a few things that you may want to think about before you take the plunge! We are going to try and cover as much as possible on this page. We are going to assume that you already know how to operate a boat. If you do not, it may not be ideal to buy a boat at this stage. You may want to get a bit more experience under your belt!

Know what you want

It is important that you know what you are looking for in a boat. This will give you an estimate of how much you should be spending on your boat. This is going to be important for the ‘budgeting’ stage.

It is likely that you are not going to be able to afford everything that you want in a boat. Therefore, we suggest that you make a list of features that you absolutely ‘need’ and features that you just ‘want’. This way you will be able to compare your list to the various options available and determine which one is going to be right for you.

Know what you can afford

Once you know roughly about what you want in a boat, you now need to decide what you can afford. Boats are not going to be cheap. In fact, they are incredibly expensive. You will need a good few thousand dollars available to buy even the most basic of boats. When you are looking at what you want in a boat, we really do suggest that you look at a few of the options available. This will give you an estimate of what you should be looking to spend.

It is likely that you are going to be able to receive financing for your boat, and many banks do have specific lending plans for those who want to own a boat, but you may want to make this a last resort. You should be spending as much of your own cash on the boat as possible.

When you are planning how much you should be spending on a boat, you want to ensure that it is something you genuinely can afford. You do not want to be diverting money away from paying your bills!

Start Shopping

The next step is to start shopping. There are plenty of places in which you can buy a boat. We recommend that you start your search online. There are plenty of websites which list boats for sale in Australia, so make sure that you have a browse through them.

If you have a harbour in your local area, then you may want to head down there too. You may see a few boats available that you can’t find anywhere else.

Try to come up with a list of a few boats that may interest you and contact the seller. Make an appointment to see the boat. You want to be visiting as many boats as you can. This will make it easier for you to find the perfect boat.

When Visiting a Boat

Make sure that you check the boat thoroughly for any issues. If you do not understand what condition a boat should be in, then do not be afraid to bring along somebody who does. If you are going to be working with a lender when you buy your boat, then it is likely that they will want to send a surveyor along before you make your final purchase.

If you really do like the boat, then do not be afraid to ask to sail about in it! You want to know that the boat works as smooth as it looks!

Make an offer

Finally, make an offer on the boat. Do not be afraid to ask to pay a little bit less than what the buyer is asking. Many sellers should have a little bit of ‘budge room’ on what they are charging, so this should not be that much of an issue!

If you are happy with a price, then pay them their money. Make sure you receive all relevant documentation for the boat. Then you are done!