Being able to buy your first boat brings a lot of excitement. The boat offers you the chance to explore the waters in ways you would never have done with a rented boat. However, before you start searching for a boat to buy, it is good to understand the actual cost of owning a boat. Do not simply look at the initial cost. There are so many costs that come with boat ownership and the first is the cost of working with marine surveyors Fort Lauderdale.
Hire a marine surveyor
While buying a boat without involving a marine surveyor will save you money, it will cost you a lot more if you end up buying the wrong boat. Hiring marine surveyors Fort Lauderdale gives you the chance to get your target boat professionally assessed. The boat surveyor will inspect every inch of the boat and provide you with a detailed survey report. The survey report will help you understand the fair market value of the boat as well as all the issues it may have. You can use this information to educate your choice or to negotiate a better deal with the seller. On average, boat surveyors charge between $18 and $25 per foot. This may include out-of-water inspection, a test of all systems, sea trial and a full survey report.
Initial buying cost
The cost people pay attention to is the initial cost. This is the price tag on a boat. How much you pay for a boat will depend on its size, type, facilities and the buyer. New boat models tend to cost more than older ones. The good news is a marine surveyor will help you know if the used boat you are going after is in good condition and if it has been priced properly.
Running costs
Mooring is the easiest figure to calculate. It can be the largest monthly outgoings you have. Smaller boats have more mooring and storage options such as trailered or berthing. These options are cheaper than marina berthing but can be less convenient and require more forward planning. You also have to think about what to do with the boat over the winter months. Other running costs include the cost of fuel and insurance.
Maintenance and repairs
Your boat will definitely require maintenance and repairs every now and then. These are all costs you must prepare for. Needless to say, larger boats cost more in maintenance and repairs. While not set in stone, an age-old calculation of the maintenance costs of a vessel is 10% of the initial purchase cost.
Marine Surveyors Fort Lauderdale