What do I Need Before Buying a Lake Boat?

Are you in the middle of confusion of something like "what do i need before buying a boat?"

Of course, it’s not something you want to rush into without being prepared and confusion is obvious.

Owning a boat is a great way to enjoy water activities and create memories. Whether you are planning to cruise, fish, or just enjoy some time on the water with family and friends, having the right knowledge and essentials can make all the difference. From understanding licensing requirements to choosing the right safety gear and equipment, there are several things to consider before making your purchase.

This guide will help you understand everything you need to know before buying a lake boat. It’ll make it easier for you to choose the right boat and be fully prepared, so you can enjoy your time on the water safely and without worry.

8 Things To Consider Before Buying a Lake Boat

From identifying the right boat for the budget to the different avenues leading to boat ownership and surveys, insurance, and storage information. You will find the basics of boat buying here.

1. Types of Boats

Not all boats are created equal. One of the first things you need as a first-time boat buyer is a good understanding of the types of lake boats. There are various kinds, each with its specific characteristics, functionalities, and prices.

Some common types include pontoons, fishing, skis, and sailboats. Before deciding on the right boat type, you need to evaluate that boat based on various factors.

1. Where do you live?
2. Where do you plan to use the boat?
3. What type of activities do you plan to do with it?
4. How long do you want to sail for?
5. Number of people you want to accommodate?

Here are the boat types suitable for different activities.

• Day Cruising: If you plan to hang out with friends and family during the day on the lake, consider a pontoon or deck boat. They have an expansive deck to accommodate multiple members easily.
• Watersports: For waterskiing or waterboarding, consider a speed boat, motorboat, or wakeboard boat. You can also get a jet ski to enjoy speedy rides in the lake.
• Fishing: There can be a few options for fishing boats. For saltwater fishing, consider bay boats, center console boats, or flat boats. If you plan to fish in a freshwater lake, purchase bass or aluminum fishing boats.
• Sailing: If you are into sailing, consider a daysailer or catamaran to get out on the water. Daysailer is comparatively smaller and ideal for small families. For an extensive gathering, a catamaran is a great sailing boat.
• Overnight Cruising: This type of boat is made for multiple days of traveling. Consider a houseboat or yacht if you want to spend some time in the water.

2. Boat Maintenance

Boat ownership requires a lot of maintenance and upkeep. Whether you are buying a used boat or a new one, regular work and care will be needed to ensure its long life. Maintenance includes preventive and corrective measures such as oil changes, watching for corrosion, or cleaning the rust off metal parts.

When considering the boat, you need to understand the lake boat’s maintenance costs and replacement parts in your budget. On top of that, it is vital to consider the fuel cost. It depends on the size of the boat and its engine.

The average monthly fuel cost of a boat is upwards of 1000$.

3. Boat Insurance

Like every other automobile, boats need boat insurance to protect them against theft, damage, and other liabilities. Boat insurance is similar to the policy that covers other vehicles. However, for other types of coverage, there are insurance policies specific to boats.

For example, an insurance policy is designed to cover fuel spill liability. It protects you from clean-up claims or third-party accidents caused by the accidental discharge of fuel. Similarly, a policy covers accidents while towing. The policy pays to repair or replace the trailer. If it has caused injuries to people or property damage, the boat policy will also cover the liability.

4. Costs Related to Boat

The first thing is purchasing the boat. Buying a boat is a substantial financial commitment, even if you have a fantastic deal. Being fully aware of the costs associated with being a responsible boater is vital.

When it comes to purchasing the boat, Are you going to pay the full price or look for financing options? Most people choose the latter option.

Boat financing can be done in three ways:

1. The boat dealer organizes financing
2. You take out a loan with your bank
3. You acquire a loan from a marine financing lender.

Getting approved for a boat loan is similar to getting approved for a car loan. Lenders will consider your debt-to-income ratio, home ownership stability, credit score, net worth, and job stability. Like every financing, you will have to make a down payment, typically 10%-20% of the total loan amount.

5. Learn Boating Basics

There are quite a few things you need to learn before buying a lake boat. These are essential for safe and responsible boating and to keep your boat safe and functioning longer.

Trailering Your Boat

Trailering is essential if you don’t live near a lake or want to visit new bodies of water in your boat. Towing safely is another new skill set for new boat owners. The first step is to check your tow vehicle is rated to pull the boat.

Check the vehicle’s owner manual Gross Combined Vehicle Rating (GCVR) and the maximum tow rating. GCVR is the weight of the tow vehicle, the boat, and the trailer. The weight should include the boat fuel, water, and gear. So, checking the trailering capacity before choosing a boat is beneficial because it may lead to a new truck to tow it.

Launching and Retrieving

The boat launch ramp is developed to keep things moving smoothly, even on the busiest weekends. Knowing the drill will keep the stress level down and get your day to a great start.

Here’s how to launch and retrieve your boat:

• Move your tow vehicle in a position to back straight down the ramp
• Reverse down the ramp slowly until you see the back of the boat start to float.
• Put the truck in the park and release the trailer winch and safety chain.
• Push the boat and slide it slowly off the trailer to float in the water.

Mark out the Pre-Departure Checklist

Like a pilot checking the plane before taking the flight, thoroughly inspecting the boat is essential for a safe journey.

Here are things to check before voyaging:

• Life Jackets
• Sound Producing Devices
• Lights and Shapes
• Distress Signals
• Tools and Spares
• Fuel and Oil
• Fire Extinguishers
• Battery Inspection

The checklist is designed to make your day in the lake safe and enjoyable.

Operating Your Boat

If you are new to boating, learning everything before going into the water is essential. A good dealer will give you a thorough walk-through of the boat. Some will even take you out on the water for a demonstration.

But there is more to safely operating a boat than knowing how to start the engine and steer the boat. For a solid foundation, you need to learn how to dock a boat and tie it to the dock. There are various essential boat knots to secure the lake boat.

Moreover, learning about the rules of boating safely and local and state laws is essential to ensure safe boating.

6. Determine Where You Will Store the Boat

A boat needs to be stored properly to keep it running the best and get the most out of your money. Good storage will keep your boat in excellent condition.

There are three common boat storage options:

1. In-water storage is a suitable option if the city has mild winters or if you are able to completely winterize your boat. It includes finding a durable, tight-fitting cover and replacing water in the boat’s system with anti-freeze to prevent ice formation.
2. Dry docking, as the name suggests, removes the boat from the water, and the owner stores it on land, either indoors or outdoors. Outdoor docking is cheaper, but you must ensure the boat is properly covered to protect it from any weather. You can dry dock in an outdoor boat storage facility or your yard if you have the space.
3. Indoor dry docking is an expensive option, but it provides the most protection to your boat and helps extend its life span. Storing inside offers complete protection from any damaging weather. You can store the boat in storage units, or if you have a garage, store the boat indoors at your home.

How you dock the boat is up to you, but we recommend dry docking, especially if you live in areas with harsh winters.

7. Boat License and Registration

Boats are not so different from cars and other vehicles. Most states regulate their use and require a boating safety certificate to operate a boat legally. Getting certified involves taking a course and passing an exam.

Registering your water motor vehicle is necessary. This can be done by mail or online. Before buying your boat, it is vital to ask local authorities or visit the state’s website to understand the license and registration requirements.

8. Boat Safety and Accessories

You will need additional accessories that may be required for convenience and safety purposes. Things like life jackets, marine radio, anchor lines, and fire extinguishers. Investigating these additional expenses is essential when deciding whether you can afford a particular boat.

You can check with local authorities for items you are required to have on the boat. What you need on board also depends on your boat class.

Moreover, there are fun accessories like fishing gear and waterski equipment for fun water sports activities.

Common Mistakes to Avoid When Buying a Boat

Buying a boat is a substantial investment. That’s why it is essential to thoroughly understand every aspect to make informed decisions.

Here are common first-time boat buyer mistakes that you must avoid:

• Purchasing a new boot is exciting, but don’t let it lead to rash decisions. If a boat is too large, it will need more maintenance and more experienced boating skills. Moreover, it will cost more to store, run and maintain. Similarly, if a boat is too small, you will not be able to hang around with your friends.
• We all know that a boat costs a lot, and you will likely have your boat for years. So, you will want a boat that meets your needs and continue to make water adventures in the future. Think about how you plan to use it and consider the usage in a few years to determine the right boat style and size you should buy.
• You should enter the market as an informed buyer, especially if you are looking for a used boat. You should have a good idea of what to look for when boat shopping to get the best deal. Spending some time researching and learning will help you feel confident in your buying decision.
• Owning a boat is more than just monthly payments. You need to ensure you can afford the maintenance, learning, insurance, gas, and docking fees. Add these expenses to the monthly cost when budgeting for your boat.

FAQs

How do I determine the right size for my lake boat?

The size of the lake boat depends on the intended use, the number of passengers, and the lake’s conditions. Small lakes may require more maneuverable and small boats, while larger lakes can accommodate bigger vessels. Storage and trailering needs must also be considered when making a decision.

Are there any special permits required to operate a boat on lakes?

Permit requirements vary in state and lake. Some lakes may require additional permits for usage or specific activities like fishing. Contact local state and city authorities to ensure compliance with regulations.

What is the average lifespan of a lake boat?

A well-maintained boat can last 20 years or more. Regular servicing, proper storage, and following the manufacturer’s guidelines for usage and extending its lifespan.

Can I customize my lake boat after purchase?

Lake boats can be customized and upgraded with better seating, enhanced storage, additional safety equipment, or advanced navigation systems. You can consult the dealer or specialists to explore customization options.

Conclusion

Ready to make your lake boating dreams a reality? Buying a boat is a big decision, but with the right preparation, it can be one of the most rewarding investments you’ll ever make.

Focus on essentials like safety gear, boat type, maintenance, and legal requirements, and you are all set up for smooth sailing—literally! Take your time to find the perfect fit for your needs and lifestyle, and you’ll be on your way to creating unforgettable memories on the water.