So you want to buy a boat and you want to know what you can afford. There are few immediate additional costs besides the price tag that you need to consider.
- Registration fees: Like a car, there are state fees when you transfer ownership from one person to another. There is no set price on registration as it will change from state to state, so be sure to look it up when making your budget.
- Tax: When you register the boat under your name, you also pay the sales tax on the purchase at the same time. This can get pricey depending on how much you are spending on your boat, so don't forget to get out the calculator and be prepared.
- Transporting the Vessel: Nine out of ten times, when you buy a boat, you then have to transport it to your home marina. To budget for this you need to decide if you will sail it yourself, which possibly means time off of work and docking fees and gas along the way. Or you could hire someone to make the sail for you. If this is your plan, make sure to get a quote before buying the boat. The last option (depending on how big the boat is) is trailering. This you can attempt yourself depending on the size or hire a professional, who usually charges by the mile. Either way, put it in your budget!
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Comment the costs you weren'y planning on!
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