When did you start to get serious about your retirement? Most folks begin setting funds aside when they can count on a steady paycheck. That’s a smart move. There are other plans to make like whether you’re going to age in place or move to a retirement community. You’ve also got options when it comes to filling up your days. That might include a new hobby, travel or boating. For boating, you might be looking at an investment in a seaworthy craft for you and your family. That can certainly provide hours of fun.
Here is the best approach to buying a boat for your retirement.
Decide on the Type of Boat
The kind of boat that you will be investing in will depend a lot on the waterways you intend on utilizing. Will you be using your boat for freshwater fishing? That could have you looking at bass boats which are designed specifically for bass fishing. They have low sides and typically will only hold two passengers. That makes it easy to get in and out of the water. Cuddy cabin boats have a small cabin to protect you from the elements but that are limiting for deck space.
Out in the ocean, you might be looking at convertibles, center console boats or bay boats. Again, it all comes down to how you think you’ll use the boat and how many passengers you want to accommodate.
Do Your Homework
There is plenty of research sites available online for you to explore possible boating options. If you live near a marina, then there will also be a boat dealership you can visit. One of the best options would be to attend an indoor boating show. This is where you can really get a good sense about the size and differences of the various boat options.
Your research needs to factor in your budget. It is not just the purchase price for the boat that you have to consider but all the extras. There are fuel and maintenance costs. Plus, storage. Will you be keeping your boat in a marina slip or on a trailer? There is also insurance and registration fees that will have to be accounted for.
Set Up Inspection
A lot of boats are sold in private sales. If you go down that path, then it is vital to get your boat inspected by a certified boat mechanic. They will not only be checking out the boat’s engines and systems but also its seaworthiness. You should also get as complete of a history of the boat as you can from the current owner. If they recently purchased the boat and don’t know much about it, then you might want to walk away.
Go for a Test Drive
Finally, you should never seal the deal for a boat until you’ve taken it for a test drive in the water. That might be a challenge if you’re buying the boat from a dealership but they should make the accommodation because it’s a major purchase. You don’t want to be saddled with a boat that you find difficult to operate.
When you’ve made your decision, be sure to look into the same kinds of warranties as you would with a car. There could still be problems that have to be worked out once you’ve taken it out on a few trips.
A boat for your retirement is a terrific goal to aim for. Just make sure it won’t be causing stress.