When buying a boat, most buyers focus only on the initial cost of the boat. Many don’t even consider the importance of working with a boat surveyor near me. This is the reason most first-time boat owners end up being frustrated with their choice. If you don’t want this to be you, here are some of the costs you should plan for.
If you plan on buying a pre-owned vessel, you are making a wise decision more so if you are on a tight budget. This is because a used boat helps you get the most from your money. However, not every used boat is in good condition. There are many buyers who do some cosmetic work to hide flaws on their boats. This is why if you are thinking about buying a used boat, you should consider working with a boat surveyor near me.
The primary role of a marine surveyor is to assess the condition of a boat. They observe, listen and use specialized equipment to understand the exact condition of a boat. The surveyor will then provide a detailed report that includes the fair market value of the boat, all the discovered problems and photographs of those issues. You can then use this information to make a better decision or negotiate a better deal with the seller.
It costs money to hire an inspector. For smaller boats, you may be charged a flat fee. However, for larger boats, boat surveyors charge a per-foot fee. You will also foot the cost of getting the boat removed from the water for the inspection of the underside.
While not mandatory, you have to think about the cost of boat insurance. Considering a boat is a major investment, you want a reliable insurance cover to protect it regardless of the payment method you choose. It helps to know that you may require the services of a marine surveyor to perform an insurance survey. The insurance survey may be requested by the insurance company. How much you pay in insurance premiums will depend on the age of the vessel, its size, specific features and the purchase price.
Last but not least, you have to think about storage. Where will your boat stay when you are not using it? Do you plan on keeping it in a trailer or leaving it docked in a port marina? Needless to say, it costs money to transport and store a boat. The bigger your boat is, the more storage space it will need and the more money you will spend on storage.