What to consider when buying a boat...
Updated: Sep 27, 2022
How will you use it?
This determines what type of boat you should buy.
This is just one of the good reasons for going to a broker rather than buying privately - they can give you advise on what sort/brand and type of boat will suit your needs.
Where will you keep it?
Make sure you have somewhere to keep your boat before you buy it!
There are things to watch out for like: Availability of wet berths in your area, Maximum size of vessel on moorings in your area, dry storage maximum sizes, and whether you keep your boat where you live OR where you want to go boating. What is the maximum size for towing boats in your country. All of these investigations may change the size of boat you can buy!
Maintenance costs of a boat?
Never max your budget on the purchase price of the boat. Save some in the kitty for repairs and issues you need to fix or improvements you wish to make. Ask the experts - mechanics, shipwrights, detailers and so on what they will charge for annual servicing of that boat.
Who should you buy it from?
My recommendation would always be a reputable broker. Always have a survey done on the vessel prior to purchase.
Can you insure it?
Ring around and get some insurance quotes or ask the Boat Broker you are buying it from to provide some. If you can't insure it, you are unlikely to be able to berth it in a marina or drystack or have them lift it for maintenance.
Check out this review we did of the Riviera 64 with Ocean Magazine and Mark Beretta.
Setag is a yacht refurbishment business built on the knowledge collected over years of industry experience. Ellie Gates who is the daughter of the Setag Founder, Chris Gates, is my guest on this episode and it's a whole lot of fun.
Proudly following in her father’s footsteps, Ellie has a love for the marine industry, having worked for Princess Yachts in their Marketing department for three years whilst completing their 12-month graduate training program.
Immersing herself in the world of luxury brands, she worked on projects outside of Princess Yachts for LVMH and Automobili Lamborghini, giving her a keen eye for luxury goods and developing a key understanding of the clientele.
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Would you like to bring your business or brand to our audience? Or would you like to appear on our podcast to share your boating adventures? Download our media kit here and find out how we can promote your business to our audience. Don't forget once it's done it's out there forever and you can link to it on your website, your socials, it's a great way of getting your story across to your potential and current clients.
See you on the water soon.