Beginner questions! I need some help starting my budgeting

[CaptainYARRR]

Hey all,

I am looking at buying a boat for this summer. I've been boating with friends before so I have some knowledge of doing it, but nothing as far as owning it. I know all the fun sayings, the happiest days etc

I am budgeting between 7500 and 10,000 for the boat itself. I'd like to get some kind of powerboat or ski boat.

But aside from that, I don't know what fees and expenses are involved. I imagine I can do most of the maintenance myself since I am pretty competent there having a car racing background.

What all is there involved? Costs to put it on the water? Permits? Maintenance besides oil changes? I will need to store it, but I can figure that out on my own.

I tried searching around on the site, but I didn't find any HELP OMG I'M NEW TO THIS thread anywhere.

Thanks!

 

[bman1bpm]

Re: Beginner questions! I need some help starting my budgeting

Well as far as costs and permits we'll need to know where you live!
Maintenance depends on the type of motor 2 stroke, 4 stroke, IO, etc
you should be able to find something nice in that price range, You can get a brand new bayliner with trailer for 13k

 

[Chiliando]

Re: Beginner questions! I need some help starting my budgeting

Also depends on what you plan on doing with the boat. Boating, fishing, off-shore etc....

Budget the appropriate amount for safety gear. Not the cheap stuff that meets CG requirements but the top of the line safety gear. There are pleanty of threads here about safety gear.

Especially if you are planing offshore...............

Have fun and be safe!

 

[5150abf]

Re: Beginner questions! I need some help starting my budgeting

Unless you are a hard core skier I don't think you want a ski boat as they are made for skiing and nothing else, they aren't good cruising boats because the have a really flat bottom and ride rough.

They also have a fixxed drive, the prop comes out the bottom of the boat so you can't adjust trim or trim up the drive if you get into shallow water and since they have rudder steering they are hard to handle at the dock and slow speeds.

Start looking around at any boat you can find and narrow your search down.

As far as costs as others said, not really enough info, if you want insurance on it that costs, registration, fuel and maintenence but if you can do that yourself that should save you a bunch.

 

[ezmobee]

Re: Beginner questions! I need some help starting my budgeting

That budget should get you a really nice boat. For a new boater I would recommend a 17-18' bowrider as they're probably the most versatile. If you go with an outboard your maintenance costs should be pretty minimal. All I've done to mine in the past 4 years is change the lower unit oil every fall.

 

[dvan1901]

Re: Beginner questions! I need some help starting my budgeting

As other have stated, depends on where you are (fresh water/salt water), what type of boating you do and how often you plan on using it. Some things to consider:
- Storage; are you going to keep it at home, storage facility (covered/non-covered) or wet slip
- Annual maintenance: oil changes, drive inspection, impeller change (maybe every 2 years)
- Gas; will you be filling up on the water or gas canning it; how often you boat, and what type of engine you get will determine how much you use
- Trailer maintenance; lights, lube, brakes, etc
- Boat registration (every three years here)
- Boat insurance
- Boat accessories; life jackets, fire extinguisher, first aid kit, throwable flotation, tool kit, emergency kit (flares, etc), anchor, ropes, bumpers, paddle and hook

That's a few items off the top of my head

 

[CaptainYARRR]

Re: Beginner questions! I need some help starting my budgeting

I already appreciate the replies!

I am in Austin, TX so I'll be on freshwater entirely. We will be using it mainly to hang out relaxing on the lake, pulling a tube, wake boarding etc.

What's the average price on insurance in the price range for a bow rider I'm looking at?

 

[jkust]

Re: Beginner questions! I need some help starting my budgeting

Wow if you have a 10k budget you are buying at the right time. I don't know about Texas this year but I would bet you could get a very nice early to mid 2000's 4 cylinder or even v6 bowriders there. Some of the best deals I saw when shopping last year were down in Texas. I am in MN but wished I was in Texas since boats were inexpensive there. I wouldn't let the maintenance costs scare you off too much or the gas for that fact. The key is to at least have the money available in an account when something does go wrong and of course do the annual maintenance so it doesn't all hit at once. Boating is just generally expensive when you do have to buy stuff. Anything with the word marine in front of it fetches a premium. Insurance is dirt cheap for full coverage (again in MN with 4 month season), and the licensing is just incidental expense. My first year of owning my I/O in my sig cost me only $300 or so for maintenance and that was for annual winterization services and fluid/filter changes. Since I bought used I got thousands of dollars of high end stuff with the boat and this is pretty common place. I was suprised to see how much just the two wake boards and bindings and two tubes actually cost. The old owner did what Chiliando said above and bought the good stuff. All the benefits of buying used. Good luck

 

[45Auto]

Re: Beginner questions! I need some help starting my budgeting

See this thread for some insurance prices;

http://forums.iboats.com/showthread.php?t=296852&highlight=insurance

My guess on an 18-20 foot, 10K bowrider would be $100-$200 per year.

 

[David Greer]

Re: Beginner questions! I need some help starting my budgeting

Once you own a boat, you'll find that it's as much fun as standing in a cold shower tearing up $100 bills.

Not really; I wouldn't be here if I weren't hooked. But everything on boats is more expensive than you might guess (esp. for those of us in saltwater). At that price range, get an outboard. Base your size on your typical outing--a few adults and children tubing needs at least 17'. If it's too big you won't want the children to take it out, though.

Before buying my most recent boat we sat down and made a list of activities and features. We decided we'd do more fishing and cruising than skiing, so (as was suggested) got a fishing boat yo can ski behind on occasion. We decided we really didn't need a cabin or a head (we are invisible) so we went with a center console rather than a cuddy or walk-around.

Go for low mainenance. That means no carpet, removable cushions, closed compartments. On a small boat avoid installed electronics such as a CD player and bring a portable. Get a stainless prop.

 

[45Auto]

Re: Beginner questions! I need some help starting my budgeting

Do like David Greer says. First decide how you want to use the boat. If you're into fishing, then carpet and nice upholstery will become NASTY real quick! If you have friends with different types of boats try them all out while deciding what you want.

My family doesn't own a fishing pole. We use our boat for skiing, tubing, cruising, etc. The women prefer the nice carpet and upholstery to walk around on and lay out on. If you're going to be swimming off the back of the boat an I/O with a swim platform makes the boat MUCH more enjoyable. A nice multi-speaker stereo system is much more enjoyable to listen to while cruising than a portable.

Nobody can tell you the best boat for your use. You'll have to evaluate that for yourself. For 10K, you can get something VERY nice no matter what you decide to do.

 

[mphy98]

Re: Beginner questions! I need some help starting my budgeting

Welcome to the world of boating and Iboats. As far as costs go, take the cost of the boat, then take out a loan for another 10k and throw it in the water and watch it go away!!! No seriously it's not that bad, Insuance, oil changes on an IO, lower unit lubes every year, ect

 

[CaptainYARRR]

Re: Beginner questions! I need some help starting my budgeting

I had a much uglier picture in mind for insurance, that sounds great. That's easily my Viper insurance in a month lol.

I have found a few nice looking mid 90s Baja and Sea Rays with V8s under 10k. What are the questions I need to be asking when I send these people e-mails about the boat? Am I right in assuming that if I bought one of the low end Mercruiser equipped boats I'm going to end up wanting more power?

 

[ezmobee]

Re: Beginner questions! I need some help starting my budgeting

You'll be wanting with the 3.0. The 4.3 will be very good, and the V8's will be fantastic. Stick with Mercruiser or Volvo. OMC is out of business. Not sure what to tell you to ask the sellers. Your biggest concern in a used fiberglass boat is rot. Inspect any boat you plan to purchase VERY carefully to make sure it does not have a rotted deck, stringers, or transom. It's a BIG job to replace any of those items and it one is rotten chances are good they all are. If a seller says they put a new floor in it be very suspicious.

 

[CaptainYARRR]

Re: Beginner questions! I need some help starting my budgeting

Thanks for the feedback. Anyone else have more questions I should be looking at asking?

 

[Jack Daniels]

Re: Beginner questions! I need some help starting my budgeting

They forgot probably the most important aspect of a boat purchase. If you plan on trailering, make sure your TV can handle the weight. Dont buy a bigger boat than your vehicle can handle or youll be upgrading trucks or reselling your boat really quick.