As a former boat owner and captain, I knew that purchasing and maintaining a vessel was the right decision for me. However, for those who didn’t grow up on the water like I did, it can be a difficult decision to make. Not only are boats a significant investment, but they require a substantial amount of work to maintain. Are you wondering should I buy a boat? Here are 5 ways to know that you’re ready to purchase a vessel. 

You Can Afford To Purchase The Boat

Without a doubt, no matter if you’re buying a new or used boat, the initial investment is expensive. 

Today, life is more expensive than ever before, especially considering inflation. It is imperative to review your budget before making the commitment to buy a vessel. 

Financing A New Or Used Boat

First, if you’re considering financing, calculate your monthly expenses and determine if funds are available for the monthly payment. Importantly, you don’t want to cut it close; unexpected repairs do occur, especially when owning a vessel. 

Buying A New Or Used Boat Outright 

Secondly, if you plan to purchase the vessel in full, take a close look at your savings. Again, not only do boats require unanticipated repairs, but so do vehicles, homes, and more. 

With that said, you never want to clean out your savings simply to purchase a boat. Instead, you’re going to want to leave yourself with plenty of wiggle room. 

More Than Just One Person In The Family Enjoys Boating

I was fortunate enough to grow up with a family that all enjoyed spending time on the water. However, this is not the case in all households. 

As I got older and moved away, I continued to boat independently with my center console. Today, my wife and children enjoy boating equally as much as I do. 

Undoubtedly, will want to expose family members to boating before buying a vessel. I recommend renting a boat or getting out a friend’s boat. A few boat rides will be an indicator of whether the investment into a boat is the correct decision. 

Without question, you won’t want to make the purchase only to find out nobody wants to get out on the water. 

You Understand That Boats Cost Money To Own

Not only is it costly to buy a boat, but it is costly to store and maintain a boat. Understand that your expenses don’t end when you pass over the money with the initial purchase. 

First, it costs money to store a vessel unless you’re keeping it anywhere except for your home. 

Secondly, boats require annual routine maintenance. The service is expensive. Additionally, boats break and parts and labor are costly. 

Lastly, in order to better maintain the vessel value, its going to need to be washed and waxed routinely. If you’re not doing this yourself, it will come at a cost. 

Never be surprised by the monthly carrying cost in relation to boat ownership. 

You Have Enough Time To Use The Boat

One of the most overlooked considerations when deciding whether or not to buy a boat is the time commitment. 

Unfortunately, life gets in the way of relaxation, and one of the most relaxing hobbies is boating. The combination of work, household chores, kids’ activities, and more can quickly eliminate all opportunities to go out boating. 

I highly recommend making sure that you will be able to have a lot of time not only to enjoy the boat but to maintain the vessel as well. 

You Have The Confidence To Drive A Vessel

Despite being a captain, I will be the first to admit that driving a boat is challenging. The combination of wind, tides, traffic, and objects can make navigation a daunting task. 

For this reason, you’re going to make sure you won’t be fearful of operating a boat. I have seen people fork out a boatload of money, so to speak, only for the boat to sit on the trailer or dockside. 

In order to make sure that you’re going to be confident is ask to drive a friend or family member’s boat. Obviously, don’t take chances that can ultimately cause damage, but see how you feel driving in open waters. Some quickly realize it is not a wise investment because of the lack of confidence. 

Are You Ready To Buy A Boat

When I decided to make the investment to purchase my center console, I knew that I was ready. I suggest determining if you’re able to accommodate all of the 5 ways to know if you’re ready. If you’re not ready, hold off until the time is right. However, understand that the day may never come. A great alternative is to join a boat club or rent a vessel on an occasional basis.