Make Boating Affordable

Boating is seen as the rich man's hobby; yet, that generalization is not proven to be true. With just a few tips and easy adjustments, boating can be made affordable.

Yacht clubs, gorgeous lakehouses and massive luxurious boats give the boating world a fancy rep. To the blue collar worker, boating is often viewed in a similar light as golf; you have to have a wealthy hand. Let's unravel the real truths regarding boating.

Used BoatThe National Marine Manufacturer's Association (NMMA) performed an annual statistical report on recreational boating. In their study, they found 73 percent of boat owners in 2011 yielded an annual income of less than $100,000. Those numbers show that boating is, in fact, something that is accessible to the middle class. In 2014, more than 87 million adults in the United States partook in recreational boating. Moreover, the recreational boating industry is valued at over 35 billion dollars as $3.7 billion were spent on boats in 2015. With that, one can see boating is an inclusive activity for people of all kinds.

Let's analyze how to make boating something that can be a part of your life without getting in the way of finances.

Research the market

Like anything, different companies offer different products made in different ways. Moreover, some companies offer similar products made in similar ways. In those instances, look around at the market and find the best price. Moreover, always give yourself five or six options when it comes to buying a new product or taking your boat in for service. Find yourself a good deal.

The initial investment: Buying a boat

Say you buy a new boat, well, that is going to cost you. However, there is a cheaper alternative to getting yourself on the water. Buy a used boat! If you are against the idea of buying a used boat, think of it this way to make yourself feel more at ease. Foremost, you will spend much less. Secondly, the second a new boat is purchased, the value instantly and radically depreciates in its fiscal value. If a used boat feels right for you, aim for a boat that is just five or six years old and know what you are getting.

If buying a new boat makes you feel more comfortable, understand that you can finance the boat. This will allow you to save money upfront. Moreover, if your boat has a sleeping berth, you may deduct your boat loan interest on your federal tax return.

Go smaller

If money stands in the way between you and boating, lessen your wants and obtain your needs. In other words, don't get a massive boat. The bigger the boat, the more it will cost.

Storage: Marinas, high and dry storage and trailering

Again, look around at the market. Is there an affordable marina near you slip rental? Is this marina near a body of water in which you prefer to boat? Acquiring a trailer is not a bad call. It is often much more affordable than high and dry services at marinas.