If you know you are going to be buying a new or different boat in the new year, the time to start preparing for your spring boat purchase is now. Why? When that perfect boat shows up on the market, you need to be ready to pull the trigger. Below are a few actionable steps you can start today to ensure you are ready for your next boat purchase.
Narrowing Down Your Perfect Boat
Experienced boaters generally know the style of boat they plan to purchase, however there are hundred of factors which come into play. One of the easiest ways to come up with your perfect boat checklist are to answer the following questions:
- What needs are not being met by my current boat?
- What are my “must-haves” in my next vessel?
- What will the top three uses of my next boat be?
These are the same questions top brokers use to help narrow down boat choices for their clients. Though simple, they relay powerful information you can use to discover exactly what you are looking for.
Price, Location, and Logistics
You should have a general idea of the top-dollar you are willing to spend in order to secure your next vessel, but have you explored financing options? Speaking early on with boat financing companies will create a clear picture of exactly how much you are going to be able to put towards a boat. Also consider any extra income you could earn before now and your boat purchasing day to add towards your top-dollar price.
Once price is established, consider how far away you are willing to drive or fly to find your next boat. We work with professional shippers across the country to help our clients buy and ship with confidence, but it is important to consider just how far your radius of buying will be. Will your car pull this next boat? Will you consider using a insured shipping company in order to expand your buying radius?
The logistics of taking on a new boat must also be considered especially when moving up in size. Will your local marina be able to store the new boat? Will your HOA allow large boats in the driveway or backyard? Once your size has been established, it is crucial to start planning exactly how you will use, store, and have your new vessel serviced. We encourage our clients to establish these logistics early on so they can enjoy their boat from day one and avoid any situations that would keep them off the water.
Trades: Options For Your Current Boat
If you already own a boat, it may make sense to start finding a buyer now so you can move quickly when your perfect vessel hits the market. Read our “Why Selling Your Boat Before Winterizing Will Save You Money” for a full breakdown of this concept, but holding onto a boat through winter is an expensive process.
If you decide to hold onto your vessel until spring, be sure to have your marketing and detailing plans already set. Remember that everybody will be trying to sell in the spring so locking in a good detailer early is crucial. Go ahead and build out an equipment list for your boat and arrange for photos to be taken the same day the detail job has been completed. Also consider that your boat may take time to sell so hiring a broker to start marketing early and utilizing their database of boat buyers is a great way to ensure your boat is sold. If you need your boat sold quickly, wholesaling is another option. We specialize in wholesale and can have an offer back within days. Simply submit your boat here to get started.
How Yachts 360 Can Help
In this post we have mentioned brokerage, wholesale, and more. Members of our team specialize in each of these areas and can help with the logistics of a boat purchase. If you have any questions or would like to speak with us about any topic mentioned above, simply fill out our contact form and we will be happy to discuss your questions!