The Hidden Costs of Owning Boats

It’s no secret that a boat is no small purchase. However, you still may be wondering just how much boats cost when you’re making up your budget. After all, the cost of a boat is more than just what the sticker price says at the dealership. Think about some of the important points that will help you determine exactly what you can afford, as well as some of the main costs you need to factor in, along with the price of your boat.

Here are some costs to consider, if you’re considering owning a boat!

The Tag Price

The biggest cost of owning a boat will be the price listed on the tag, at the dealership. This price will likely vary widely, depending on key factors such as what type of boat you’re choosing, how big it is, what features you want, the time of year you buy the boat, and whether you’re buying a new or used model. Keep in mind that most people use financing to get the boat of their dreams, which means that you will still need to save up 10% to 20% of the total cost of the boat you want, as a down payment.

The License & Registration

Pretty much all jurisdictions in the United States will require you to license and register your boat, with the appropriate authorities. The cost of these documents tends to vary, but keep in mind that it’s typically more affordable to register a boat in a state where you’re already a resident.

The Insurance

Boat insurance is very strongly recommended, even if your jurisdiction does not require it by law. Insuring your boat will help to protect your purchase, in case of any unforeseen issues or accidents. Typically, the costs of insuring a boat are about 1.5% of its total value. However, this rate may be higher or lower in your area, depending on the different factors involved.

The Maintenance

Regular maintenance of your boat is essential to keeping your investment safe, over the long term. This is something you don’t want to skimp on or go without, so try to set aside about 10% of the boat’s total tag price per year, to cover the costs of repairs and regular upkeep. Keep in mind that you can attempt to save yourself money by performing routine maintenance at home, but you should only do this if you know how to properly take care of your boat.

The Storage

If you don’t have somewhere to store your craft at home, you will need to look into boat storage options. Storage areas can include places such as a local marina slip rental, a boat storage facility, or a rental storage unit or garage. Additionally, make sure to have your storage needs worked out before purchasing your boat, so as not to run into any extra fines for not storing your boat properly.

Sail the high seas, with your perfect boat today! Buy your boat at Boat House of Anaheim, located in Anaheim, California. We also proudly serve Huntington Beach, Newport Beach, and surrounding areas.