Pros and Cons of Owning a Boat

There are many reasons why most people prefer owning a boat. People staying on or near the lake or oceanside understand the benefits of owning a boat more. However, there are also other reasons that make people dread owning a boat. We took a look at the pros and cons of owning a boat.

Advantages of owning a boat

1. Enjoying with family and friends

For most people, a normal week comprises of working long hours, running errands, taking the kids to school and picking them up from practice. This is the reason why you need some recovery time with your friends and family. Having a boat ride gives you the chance to share quality time with your loved ones. If you wish to teach your kids something new, whether it’s boating lingo, exploring nature or fishing, this is the best time to do so.

This can also prove to be the best investment especially for people who own luxury yachts. Hiring a yacht is expensive and you can rent your yacht out to people who wish to bond with their families or hold ceremonies.

2. Endless waters

Luxury yachts have the capability of cruising even in the deep waters. When you own one, you will always have somewhere new to go. There is bound to be a shoreline, river, lake, bay or ocean that you haven’t explored yet. This means that you can always use your boat. It is important to look up your local marina to find out the closest body of water and where it leads to before you settle in.

3. Affordable recreation

Most people have the perception that you have to be wealthy to own a boat. That’s far from the truth. You can finance a boat for around $200 a month and still enjoy quality time with it. Saving up that kind of money means you only need to give up a few things.

You should think of how much you spend on family vacations and how much you will save if you own a boat. In fact, with your own boat, you can go anywhere the water will take you. If you have a luxury yacht, you definitely have a cabin and bathroom facility. This means you can take a weekend trip to somewhere new. You don’t have to pay for a hotel as long as you bring your own food.

Disadvantages of owning a boat

1. Limited usage

Depending on where you live, a boat is only usable in warm weather. This means that if you live in a region where the temperatures are always low then your boat can be useless. If you cruise over icy water there are always chances of breakdown and this can be dangerous if you are far from the shore.

2. Costly to maintain

Before you own a boat, you must make sure you have enough money to pay for a store. If not then you must have a vehicle large enough to tow the boat you want to a place where you can store it. The bigger the boat, the more of a pain it is to trailer and launch/retrieve. If you own a luxury yacht then you have to pay to store it at the water and pay for its security.

The coast of gas is also another thing. If a boat is kept in a slip gas at marinas, it can be up to $1 more per gallon than on the street. You will also have to look for a specialized mechanic to handle any repairs needed. Doing it yourself can be dangerous since you may not fix the problem permanently.

3. Cleaning

Cleaning a boat is not as easy as it may look. Most boats are not totally enclosed. If you have a bigger boat then cleaning it will take more time. The engine of a boat must be flushed with fresh water every time you come back from a saltwater trip.

4. Expensive accessories

It is not easy to find spare parts of a boat. Apart from a boat being expensive to purchase-even used boats-getting spare parts can be a hard task. If you are using a starting/cranking battery and deep cycle battery then you will have to meet the cost of replacing it.

That said, owning a boat has its privileges and its shortcomings, you can research more on the dos and don’ts when you own a boat before you think of purchasing one.