Owning a boat is the dream of many water-loving adventurers. Purchasing a boat should be an informed decision. While you many doubt your Loe for the water, there are many more things to consider and weigh before your purchase, such as the real cost of boat ownership.
Slip Fees or Storage
You don’t get to leave your boat in the water for free. Keeping your boat at a marina will cost you a monthly slip fee and these can vary greatly by the marina. It could be as much as a car payment.
Unless you have a large boat pad, storing the boat on your property probably isn’t an option either. The marina offers dry storage, which might be more affordable than a slip fee, but is still going to be a monthly payment.
Just as you need insurance on an automobile, you need coverage for your boat as well. You’ll want to protect it on and off the water, but you’ll also want to protect yourself from liability, as accidents can happen on the water, too.
Other expenses that you’ll incur when you own a boat include
- maintenance and repair costs
- a trailer to tow the boat
Talk to other boat owners and see what other things you might need to consider. Deciding whether or not boat ownership is right for you should be based on gathering the facts.