Home | Recreation And Leisure
Owning a boat costs much more over time than the actual purchase and the fuel to run the boat. There are two types of costs associated with owning a boat: one-time costs like the actual purchase, titling and outfitting of the boat and ongoing costs like fuel, insurance, maintenance and docking. When you purchase a boat, the first decision is to buy new or used. Used boats obviously cost less but may have fewer features and more wear than a new boat. Additionally, new boats often come with warranties. Buying a boat is similar to buying a car and shopping around for the best deal and the best financing can save you a lot of money up front. If you're buying a new boat, dealers often charge a "commissioning" fee to cover the installation of any special equipment, tuning the engine and other post-purchase items. You will also have to pay sales tax and some states have a personal property tax that must be paid on boats over a certain size. Most boat owners a responsible about budgeting for the initial purchase and outfitting of their boats, but underestimate the ongoing costs, which are the bulk of the costs of owning a boat. Insurance is the most important of these costs and the most complex. Getting quotes from several companies will ensure you get the best rate. Also, agents that specialize in boat insurance will be able to help you understand any language specific to boats that you may not be familiar with. Dockage is another ongoing cost, unless you are lucky enough to own waterfront property. Slip fees vary by size and amenities offered. For example, in San Diego a slip with water and electricity for a 32-foot boat costs around $300 per month. Many boat owners also do not realize that if they want to tie up at a different marina or dock than their own that there may be a docking fee. Maintenance is such a persistent ongoing cost that it has become almost a joke among boat owners. Before you purchase your boat, you should study the owner's manual and the manufacturer's website to get an accurate idea of yearly maintenance costs. Maintenance costs include more than just engine maintenance. Consider the costs of replacing sun-faded fabric, hull painting and sail replacement as well. Finally, you need to estimate gas costs. Many a novice boat owner has been tripped up by assuming that gasoline costs the same at a marina as it does at the gas station. However, gas costs are marinas are significantly higher than at the gas pump. Visit a few marinas to get a sense of what boat gas actually costs.
Information and Articles: http://www.mastersmba.com
Providing Information on various topics, please browse our other Articles for more informative resources, we house information on every topic imaginable so regardless of your needs you can be assured to find the answer here. If you wish to reprint this on your own website, simply click the "Web Version" in the right menu, and you are presented with a pre-formatted document to use.
A lot of the information is written by the Master Article team, and published exclusively on the MastersMBA.com website, and we do our best to research all information to ensure it's as accurate as possible. However at times we also publish documents given to us by other sources, we do examine these documents to ensure they are as accurate and correct as possible however at times they discuss highly specialized fields making it hard to authenticate the validity of every fact in the document. These are written by specialists in their respective fields, and we do trust their integrity and judgment however it's always a good idea when doing any research to consult a number of sources and form your own conclusion based on a number of view points.
