5 Tips for Saving Money When You Buy a Boat

A boat offers a wonderful way to spend time on the weekends or when you're not working, but this hobby can get expensive. Want to save money? Keep these ideas in mind the next time you're looking at boats for sale

1. Skip the Motor

Motorised boats aren't the only option. If you want to save money, you may want to opt for a sailboat, a raft or a similar type of boat that doesn't have a motor. With this choice, you can save money upfront.

Additionally, you'll definitely save money whilst you own the vessel. Namely, you won't have to buy petrol for your boat or worry about engine maintenance or repairs.

2. Focus on Fuel Efficiency

If you want to go deep into the water, tow skiers or do other activities that require a motor, buying a non-motorised boat may not be an option. In these cases, you may want to focus on the fuel efficiency of the boat. If you plan to use your boat a lot, you may save money by spending a bit more upfront on a fuel efficient boat. You'll reap savings down the road or down the water at the fuel pump.

3. Buy a Used Boat

Whether you go for a motorised or non-motorised boat, you can save money by shopping for used boats for sale. You can sometimes get boats that are several decades old that work perfectly fine. If you are just looking for the basics, this is an option to keep in mind.

4. Consider a Fixer Upper

If you enjoy working with your hands, you may want to look for a fixer upper. That's a boat that needs a little bit of work. Generally, you trade some time working on your boat for a cheaper price tag.

Before taking up this type of offer, do some research to see what type of work the boat needs. Then, look into the price of different parts. That way, you can make sure that this type of boat won't end up costing you more money in the long run.

5. Choose a Boat You Can Store at Home

In addition to the initial price of the boat and the long term anticipated fuel costs, you may also want to think about storage costs. Storing a boat can be expensive. If you buy a boat that you can fit into your home garage, that can be more affordable.