The What of Boat Buying

I have been engaged on my boat buying journey for a few years.  This is the most research driven and costly purchase I have ever made.  I spent much more time on this purchase with learning terms, what to watch out for and selecting options than I spent even on my house.  It is a crazy market, and I am not sure I got everything right, but my experience can certainly help others considering a first boat purchase. 

I finally decided on buying a 2021 Sailfish 245DC.  The buying and quote process was challenging with model availability and pricing changing each day.  My delivery date on the boat is April 16, so I will update with future articles as the learnings continue.

There are many sources of research and information and each of us would have our own parameters and features that are most important.  I spent countless hours researching, documenting, stack ranking and sometimes discounting unsupported information.  I used a variety of sources such including: YouTube, the Hull Truth, Boat manufacturers web sites and configuration tools, talking to existing boat owners, boat specific internet forums, Facebook boat owners groups, Garmin web site, and local boat clubs.

In this article I will cover the major types of boats, the new vs. used decision, and boat sizes.  In the future I will cover fishing features, required upgrades, and other learnings.

Type of Boats

When selecting the type of boat, it is important to decide your typical usage for the boat.  Will it be a pure fishing machine?  Will it be a weekend family cruiser and sometimes fishing boat?  Will you take extended range fishing trips (need size and fuel)?   Do you need overnight sleeping accommodations?

• Center Console
  • Optimized for fishing.
  • Not perfected for family cruising
  • Most rod holders
  • Full access to the water all around
  • Ocean, large water access
• Dual Console
  • Balanced use boat
  • Functional for either fishing or cruising
  • Ocean, large water access
• Walk Around
  • Like dual console boats but with an interior cabin.
  • Can be used for overnight trips and sleeping.
  • Most are only in larger sizes – 27’ or larger.
• Bay Boats/Flat Boats
  • Optimized for inshore or backwater fishing.
  • Low draft depth for getting into shallow waters.
• Cabin Cruisers
  • Optimized for long range overnight stays.
  • Not great for fishing
  • Large sizes only

Boat choice from Discover Boating

New vs. Used Boats and Financial Modeling

The cost of new boats is excessive and the choice of a new vs. used boat is purely a financial decision.   While I cannot justify the high prices, remember that boats are not factory built but are crafted one by one with engineering and human build processes.   The warranties and manufacturer support are critical.

Used boats are a smart buying choice if you can find one within your price range that has your required features.  The used boat market is much more challenging than the used car market as boats are less available, subject to much more rigorous wear and tear for each year of usage.  Evaluating parameters such as hull years old, engine hours, fresh vs. saltwater usage and others are critical to purchase a reliable used boat.  It is also recommended to have a used boat professionally inspected and surveyed especially the hull and the motor before purchase.  It is not easy to visually catch find hidden boat problems without proper expertise and tools.  Boats.com Understanding Boat Surveys.

Before selecting a new vs. used boat, it is important to understand the overall cost models needed for boat purchase and maintenance.  Some items that form this model include:

1. Purchase price
2. Boat Insurance (I was surprised this was not more expensive)
   1. Boats with max speeds above 50mph cost more to insure.
3. Slip or boat storage both in and out of season.
4. Boat trailer (and truck to tow it)
5. Gas costs
6. Yearly maintenance (can be up to 2k depending)
7. Upgrades and options.

New Boats

• High initial expense
• Can be financed with a loan.
• Most options are restricted to manufacturer builds.
• New boats can have issues.  Make sure to inspect and tell your seller about any concerns.
• Availability can be difficult.
• Warranties are great.

Used Boats

• Cheaper than new boats
• Check for fresh vs. saltwater usage.
• Check maintenance schedules and reports.
• Get a report on engine hours (typically 100 hours per year)
• Check if engines have extended transferrable warranties.

Boat Sizes

When I started looking for a boat, I targeted the biggest, baddest boat I thought I could afford.  After the initial excitement of a 30+ foot boat and the dismay of the costs involved, I considered other details. 

Where I would be fishing or cruising most of the time and do I need a large boat, or can use a smaller hull?  I read multiple accounts of existing boat owners trading in their larger boats and looking to downsize to smaller models.  Smaller boats are easier to dock, cheaper to maintain, easier to trailer, use one vs. multiple engines, etc.  If you are going to be fishing or traveling significant distances offshore, you really need a larger boat with multiple engines for increased safety and capacity.  Larger boats also have more storage, more amenities and are more comfortable overall.

SUMMARY

I have a lot more learnings to share from my journey so far into buying a boat and will cover these in future articles.     There are items such as required fishing features, boat options, electronics (not just a fishfinder anymore), anchoring, etc.

If you have any questions or are considering a boat purchase, contact me by email at [email protected].

Tight lines …  Captain P.