While most people find riding out on the seas with the ability to travel any way they choose appealing, these same folks tend to not put enough focus on the costs involved with being a boat owner. The reason many people who buy boats put them up for sale soon after is because they did not anticipate the mounting costs involved with this lifestyle.
Here are a few things that are going to cost you when you own your boat or yacht:
Throughout the year your boat is going to need to be maintained. When you hire the best mechanic to keep your boat in the water, you must make certain you have some cash on hand for the maintenance and any potential repairs needed during the year.
To make certain that your passengers are safe each time that you are out on the water, you need to take part in a boat safety class. The class will prepare you for any possible dangers that could arise while you are out at sea.
To ensure you and your guests are protected on the ride, you have to purchase life vests for all. In addition to these vests, it is good to have a first aid kit and a satellite radio that can reach help in the event all else fails. Splurge on the biggest first-aid kit you can find, it will be worth every penny spent.
You are either going to be keeping the boat at the marina or using a trailer to get it home each night. That means you are either paying now for a new trailer, or you are paying monthly marina fees so you can park your boat and have it ready to go on a moments notice.
There is plenty of paperwork associated with owning a boat. In addition to your license, you need to purchase insurance, have the boat registered, then there is fishing permits if you plan on hitting the seas with all your new fishing gear too.
When winter comes, your boat needs to be professionally winterized. The cost to do this procedure varies, and most marinas will do it for you if you are willing to pay the extra costs associated with the work involved to prep and then store your vessel at their site for several months.
Now you know why you should set aside enough extra cash and plan accordingly so that none of these expenses takes away from your time out on the boat.