Are you planning to buy a Quintrex boat for fishing recreation purposes? Or have you dreamt of owning a yacht to hold boat parties, so you’re scouting for one? Or do you want to purchase a motorboat to pursue a new hobby? Before you go out to boat dealerships to buy a new or used boat, you need to know the costs of owning one. Buying a boat is the first of the endless expenses where you shell out your money. There is a lot more to spend aside from regular maintenance. It’s best to be aware of these expenses first before plunging onward to become a boat owner.

On that note, here are some factors that you should know and consider when buying and owning a boat:

Registration

Registering your boat will depend on which area you live in since there are different fees you need to Approach your local government department or agency that handles boat registration. They will inform you of the registration cost and details on the process.

Boat Insurance

Insurance is important to have especially if you get into unexpected situations where it can hurt your finances. It’s a good idea to get insurance.When you close a final purchase, call your insurance company to get an idea of how much your annual premiums will be.

Boating Lessons

If you’re not an experienced boater yet, it’s best to attend classes on how to properly operate, navigate, and maintain a boat. Just like driving a car, you need to know the rules of the nautical world and learn how to boat safely to prevent accidents and protect yourself, your passengers, and everyone who uses the waterway. You can search the internet for marine schools that offer boating courses. There are many available courses out there that are affordable and have a flexible schedule.

Fuel

Fuel cost is another factor to consider when buying a boat. Of course, your boat won’t travel if there is zero fuel in your boat motor engine. Fuel nowadays is expensive and unpredictable due to fluctuating prices, so you better prepare to add boat fuel to your monthly expenses.

Storage

Unless you plan to buy a small boat to keep at your own dock or you already have a location on your property where you can store your boat, storage is also the cost of owning a boat. Call a marina near you or check with a dry boat storage facility to find out what monthly storage or dockage fees are likely to cost.

Boat Equipment

You should also set aside a budget for safety equipment and boating accessories. This can include but is not limited to, items such as life jackets or other personal floatation devices, personal locators, marine radio, electronics, rod holders, first aid kits, fire extinguishers, visual distress signal, air horn, life raft (if your boat is big), coolers, boat cushions, live wells, and tackle storage, just to name a few.

Maintenance

Maintenance is a must if you want your boat to last for many years. Maintenance can be costly at times. And even if you don’t use your boat regularly, you still need to service it at least once a year. Servicing is done by a professional and they usually charge a big amount. However, there are maintenance practices that won’t cost as much such as DIY repairs and customizations so you can save money in the process. You can also join a boat club if you want to save some money on storage, insurance, maintenance, and repair expenses.