If you plan to purchase a boat, the process from finding it, to taking it out on the water can be an exciting one, but it needs to be done carefully and with forethought. The purchase process is not something to take lightly, as you need to choose the best boat for your needs and lifestyle. Below is a guide on how to go about buying a boat, presented with an emphasis on practical considerations.
Step 1: Define Your Needs
What do you want to do with your boat? Initially, you need to ask yourself why you’re buying a boat. Define how you plan to use the boat before you even start looking at listings, have a clear idea of why you are purchasing a boat. There are all sorts of boats, from:
Fishing: Center console boats (Boston Whaler, Grady-White, Contender) incorporate open deck and rod holders.
Watersports and Family Fun: Bowriders (such as Sea Ray, Bayliner) usually has more seats and can pull a skier.
Cruising / Overnighting: Cuddy cabins or smaller cruisers, like a Cruisers Yachts or Formula, that offer berths for weekend stay overs.
Leisure on Lakes: Laid-back excursions are a breeze with stable pontoon boats (like a Bennington or a Sun Tracker).
Passenger load is paramount. A 20-foot boat accommodates 4 to 6 passengers, a 34-foot cruiser has space for 8 to 10.
Also, consider your boating location. Deep V-Hulls in deep V-hulls are preferred for larger waves/conditions, not so much in land lakes, where you can run with a lighter hull.
Be levelheaded about your boating skills. New boaters are best off with straightforward boats like runabouts, while experienced boaters might choose feature-laden cruisers. Watch that you don’t get too full of yourself as a boater. Or, at the very least, to get the necessary training and certification.
Put it down on paper and stick to it. Put your priorities — what you want to use it for, how many passengers you need to accommodate, and where and how you’ll store it — on paper, to drive your search and prevent you from overpaying on features you don’t need.
Step 2: Establish a Realistic Budget
There is more to the cost of owning a boat than the purchase price. For boats less than 35 feet, anticipate:
New Boats From $30,000 to $600,000, based on size, brand and features. Also, a new 34-foot cruiser such as Cruisers Yachts 34 GLS will run you around $400,000 to $600,000 with outboard engines.
Used Boats: $15,000–$250,000 – savings, but possibly higher maintenance.
Additional costs include:
Maintenance: 5–10 percent of the boat’s value annually, which can range from $2,000 to $5,000 on a $50,000 boat. This can include engine service, hull cleaning, and winterization.
Storage: Marina slips ($500 to $5,000 a year), dry storage ($200 to $2,000) or trailers ($1,000 to $5,000 to buy).
Insurance: $300–$1,500 a year for boats up to 35 feet, depending on value and use.
Fuel and Gear: Fuel expenses vary depending on engine size (from 200–600 HP for 34-foot cruisers), and you’ll need life jackets, fenders, dock lines and navigation aids ($500–$2,000 upfront).
Registration and Taxes: State fees ($20 to $200) and sales tax (by state).
Step 3: Look into the Types and Brands of Boats
Boats under 35 feet come in many designs and serve in many capacities:
Bow riders (18–28 feet): These boats have open bow seating, perfect for small groups interested in day cruising and watersports. Sea Ray and Regal are respected brands.
Center Consoles (18 to 30 feet): Open-decked fishing boat. Boston Whaler, Grady-White and Contender are among the leaders in the field.
Cuddy Cabins (20–30 feet): These boats come with little cabins that can be used for storage or sleeping for one or two. Good brands are Monterey and Regal.
Pontoon Boats (18–30 feet): Roomy and stable for lakes. These days, Bennington and Sun Tracker are popular choices.
Small Cruisers (28–35 feet): With cabins, galleys, and heads for weekend cruising. Cruisers, Yachts and Formula are high-end with models that also boast plush interiors and outboard power options.
Investigate brands on boating forums for owner sentiment. Compare models on reliability, resale value and dealer support. Count on larger 34-foot cruisers to have advanced features such as joystick piloting and electronics.
Step 4: New vs. Used
Weigh the pros and cons:
New Boats:
Pros: Warranties (1-5 years), up to date technology, customizability.
Cons: More expensive, quick depreciation (20% – 30% in the first year).
Used Boats:
Pros: Smaller price, less depreciation, frequently pre-equipped.
Cons: Repair may be necessary, limited warranties.
For used look for boats 3-10 years old to find a balance between cost and condition. Do maintenance records and salt water vs. freshwater matter?
Step 5: Inspect and Sea Trial
A close inspection is especially important for used boats. Here’s a sampler of what to look for:
Hull and Deck: Inspect for fractures, blisters or soft areas.
Engine: Check the hours (anything under 500 for a 5-year-old boat is considered good), leaks, operation. Outboard engines are ubiquitous and dependable.
Systems: Check all the plumbing, electrical and navigation.
Pay a marine surveyor ($15 to $25/foot) for boats over $20,000. For the 34′ cruiser, we’d be looking at a professional survey of $500-$850.
Sea trial: Test handling in open water at cruising speed and full throttle. Listen for engine sputtering. Test controls for operability and responsiveness.
Step 6: What’s The Payment Plan? How Will Our Investment Be Protected?
For financing, look into marine loans from banks and credit unions. Just as with purchasing a home, pre-approval increases negotiating power and is a necessity for the bigger, pricier models.
Get insurance quotes from Progressive or BoatUS. Costs: The fee for a 34-foot cruiser ranges from $800–$2,000 per year, based on:
- Boat value
- Usage
- Location
Liability coverage (a requirement in many marinas) and damage/towing are generally included.
Step 7: Negotiate and Close
The bargain point for new boats is the added-value extras (electronics, extended warranties) not the boat itself. If you’re buying a used boat, make your offer based on your survey: If repairs are required, start by offering 10 to 20 percent less than the asking price.
Enter into a purchase agreement which says:
- Price and terms
- Conditions (survey/sea trial approval)
- Delivery details
Pay securely by using a cashier’s check or escrow. Get a bill of sale and title (or USCG documentation if the boat is over 26 feet).
Step 8: Register and Prepare
Register with your state’s boating authority within 30 days. Boats longer than 26 ft and operated in federal waters, may be required to obtain USCG documentation.
Get ready by investing in gear: life jackets, flares, a VHF radio, fenders.
Game Plan Rules: Take a boating safety course (usually required) through BoatUS or the U.S. Power Squadrons.
Storage: Get a slip, or dry rack, or a trailer. If you’re towing a 34-foot cruiser, you’re gonna need a big truck.
Step 9: Maintain Your Boat
Regular upkeep will make your boat last a long time:
- Rinse after saltwater use
- Service the engines annually or every 100 hours.
- Winterize in cold countries (empty the pipes, fill with antifreeze)
- Maintain a log of maintenance for resale value
Typical costs can be $4,000-to-$6,000 for annual maintenance, including engine servicing and hull care.
Step 10: Enjoy the Journey
Once your boat is ready, take short trips to gain confidence. Join boating clubs or search online groups for advice and local tips.
Conclusion
Purchasing a boat is an exciting but incredibly complicated journey. Just know what you’re aiming for and follow a painstaking, thorough process, and you’ll land on a boat that’s right for you. Relax and have fun with the boat buying process.
