How To Buy A Used Boat - Basic Steps

So you want to buy a used boat? Do you want to buy a sailboat or a powerboat?Where do you start? Here are the simple steps to take - and OK, some of it may sound a bit humorous, but then there are real issues you need to consider.

Do you have a really clear idea of what you want to use the boat for? Sailing, waterskiing, as a first boat leading to bigger things - do you have the experience and need to learn? Maybe you want to sail to Hawaii and make the boat your home? Assuming you've gone through that decision loop, then we will look at the next steps:

Set Your Purchase Budget

What can you safely afford to spend on the boat, just for the initial purchase? If you don't set the right boating budget, then you will have problems later with running expenses.

Set Your Annual Budget

You need to be looking at 10-12% of the initial cost of the boat as an annual running cost (and it could be more, plus fuel). This will cover insurance (that's maybe 2-5% of the boat's cost), a marina berth or yard stacking space perhaps, antifouling, servicing and replacements, and the more complex the boat, the more it will be.

Construction

Depending on what you want to use the boat for, you may need to decide about the construction and hull material. GRP is the usual choice, but there are others.. All materials have their issues and need maintenance.

Describe What You Want

It helps to have a checklist of the basic that you are looking for and focuses your plan. Build up the costs of a basic boat and its inventory, and then compare your specification across a selection of used boats improving your 'buyer's eye. Then when you fancy a used boat you can decide whether it offers good value for money.

Family Matters

What's this? Well, boats can be a great way to involve the family - or, alternatively a great way to get away from them. Give it some thought now.

Arrange your Boating Fund

You might have a stash of cash, but if you need to arrange finance then it is sensible to establish how much you will have access to (and can afford the repayments on) when the time comes. You might need to close a deal quickly (but remember - marry in haste and repent at leisure).

Find your Ideal Boat There are many places to look - online, at the local boat club, boatyard, brokers and more. If it is your first purchase of a boat, then cast your net as wide as possible. Buying at the end of the season can be a good move.

Do not Fall in Love (Yet)

There are a lot of pitfalls along the way, don't end up buying a boat different to what was originally wanted because the buyer fell in love with her.

Make a Shortlist

You should compiled a shortlist of boats by this stage. You can check online to see if there is an owners club or reviews of the model, which will provide feedback of any problems to watch out for. Then, go and see some of them. Touch them, inspect them and think about what you like about them.

Closing the Deal

You may end up making a couple of offers and negotiating. Always make your offer 'subject to survey' and ideally 'subject to sea trial'. If the boat is worth more then a few thousand dollars, then it's always advisable and usually cost-effective to get the boat surveyed by a qualified marine surveyor. Check the engine(s) carefully - they are big items to replace.

Next Steps

By the time you finalise the purchase you will need to be planning where to keep your new boat, arranging insurance and a whole lot more. Be ready - for example, if you will be towing a trailer, then you'll need to amend your auto insurance.

It's said that when you are involved with boats, the more you learn then the more you realise how much you don't know. That's a fact!


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Phil has been boating for over 50 years - dinghies to schooners, rivers and oceans, and lives aboard much of the time. Get more solid advise on how to buy a used boat at Phil's website - how to test engines, where and how to get bargains and a whole lot more.