How to Buy a Boat: Complete Buyer's Guide
Expert tips and step-by-step guidance to help you find and purchase the perfect boat. Avoid common mistakes and make an informed decision.
Buying a boat is an exciting investment that opens up a world of adventure on the water. Whether you're looking for a fishing boat, sailboat, yacht, or powerboat, this comprehensive guide will walk you through everything you need to know to make a smart purchase.
Step-by-Step Buying Process
Before you start browsing listings, clearly define what you need:
- Intended use: Fishing, cruising, watersports, or liveaboard?
- Boat type: Powerboat, sailboat, pontoon, or yacht?
- Size requirements: How many people will typically be on board?
- Budget: Include purchase price plus 20-30% for insurance, maintenance, and storage
- Location: Where will you store and use the boat?
Once you know what you're looking for, research different makes, models, and price ranges:
- Compare similar boats on BoatSaga to understand market prices
- Read reviews and owner forums for specific models
- Check maintenance costs and common issues for your target boat type
- Consider resale value and depreciation rates
Never buy a boat sight unseen. Always inspect in person:
- Visual inspection: Check hull, deck, and interior for damage or wear
- Engine check: Review maintenance records and engine hours
- Sea trial: Take the boat on the water to test performance
- Systems test: Verify all electronics, plumbing, and safety equipment work
Pro Tip: For boats over $10,000, always get a professional marine survey. It can save you thousands and is often required by insurance companies.
A marine survey is essential for any significant boat purchase:
- Hire a certified marine surveyor (SAMS or NAMS certified)
- Survey typically costs $300-$800 depending on boat size
- Surveyor will check hull integrity, systems, and safety equipment
- Use survey findings to negotiate price or request repairs
Finalize the transaction properly:
- Get a bill of sale with detailed boat information
- Transfer title and registration to your name
- Update insurance policy with new boat details
- Keep all documentation for your records
Common Mistakes to Avoid
Skipping a professional survey to save money often costs more in the long run. Hidden issues like hull damage, engine problems, or electrical issues can cost thousands to repair.
The purchase price is just the beginning. Factor in insurance (1-2% of value annually), storage/mooring fees, maintenance (10% of value annually), fuel, and unexpected repairs.
Always test the boat on the water before buying. Issues like engine overheating, steering problems, or poor handling only become apparent during a sea trial.