Almost four million adults in the UK took part in some form of boating activity for recreation in 2018. This is an amazing figure, but how about boat ownership? Is that a viable proposition? Considering the cost involved, it is going to be a big step.
There are rules and regulations set out by the UK government that will need to be adhered to, and if the boat is taken to another country, checking out the rules, there will be a must.
Buying a boat is a commitment of not just money but time and effort as well, so when it comes to you making a decision, here are a few things to bear in mind.
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Do you like the idea of travelling every weekend (or even every day!)?
Buying a boat puts the world at the owner’s feet. New experiences are at their fingertips. Whether using it to go fishing or cruising, the choice is theirs, and, of course, they can jump aboard every weekend if they so desire. If this sounds like something you would be keen on doing, you will be making the most of your money. You might even love the idea of spending all of your time on the water – some boats offer owners the chance to live on their boats permanently. Look over this list of boats for sale, including coastal cruisers, floating homes, and narrowboats, so you can start enjoying life on the water rather than on land every day.
Do you have the time and skills?
Boat ownership can be time-consuming, and skills are needed to pilot and keep the passengers safe and secure. In fact, training on general maintenance is also key, as just calling out the AA is not going to be an option. You will need to ensure that you have the training up to standard to pilot the boat and carry out essential tasks like cleaning and fixing up your boat throughout the year. If time is not a luxury, you may find it harder but not impossible. For instance, if you don’t have time, consider hiring the services of someone else to carry out maintenance. That being said, if time is not an issue, then this won’t hold you back.
You can educate yourself on the skills required and earn the license you need to sail the UK inland waterways from the ‘Canal and River Trust’ as well as insurance.
Do you like entertaining?
Are you looking for new ways to keep your guests entertained? A boat provides you with the best location for entertaining. Inviting guests aboard to sample the delight of a leisurely cruise or throwing a party can be a fantastic experience for them. You could even organise a night fishing trip!
Do you want to make new friends?
Making new friends will also happen as you get to know other boat owners, swapping stories of trips and new places that appeal. So if you are keen to meet new people, getting a boat is perfect.
Do you have the money?
Buying and owning a boat can be expensive, especially when you consider the other costs involved, which include harbour dues and docking or marina fees. Accessories, such as life jackets and first aid equipment, are also things to consider. These do not sound like a lot of money, but they can easily add up to a major sum, so get them included in the initial cost.
Maintenance itself can be a major cost as the boat gets older. Not only the mechanical side of things such as the engine but the hull and the fixtures and fittings will also cost you. Make sure your insurance covers these things.
To help with the costs involved in boat ownership, sharing your new boat is a great idea for when you are unavailable to make use of your investment. This can be with family and friends or renting it out.