Buying your first boat is a major purchase, and many people come to us at Multihull Solutions with fixed ideas about what they want. They might have seen their dream boat in a magazine, have been seduced by a cruise on a friend’s vessel, or believe that they should buy the biggest boat their budget allows.
However, these early decisions can cause problems later on when you discover that your dream boat is mismatched with your cruising needs or abilities. It is imperative that you talk to industry specialists, before you buy, as they will help you understand what the right boat is for you from many years of client feedback and experience.
This guide will identify some of the most common mistakes made by first-time boat buyers, and help make the purchase of your vessel, an enjoyable experience.
Buying Too Big to Handle
Just because you’ve always dreamed about owning a 65-foot catamaran, and you are in the fortunate position of being able to afford one, it does not necessarily mean it will suit you. Always buy a boat that you will be able to handle for the use you intend. Many of the larger multihulls are set up for single-handed sailing, and some are not. Be realistic about your skills and look for a boat of a size that you have 100% confidence in managing. Don’t forget, a bigger catamaran may boast more onboard space, but is that space more than you need. It will cost more in marina and berthing fees, haul out, maintenance and other costs.
Not Budgeting Correctly
One of the most common mistakes is believing that the sale price of the boat is all you need to pay once your cruising life is underway. When budgeting to purchase a boat, always allow for annual expenses including berthing/marina fees, insurance and maintenance costs. A well-maintained boat will attract a much better resale value when you are ready to sell or upgrade.
Not Doing Your Research
It’s easy to buy the wrong boat if you have not done adequate research. Make time to understand the design of various boats, their advantages and disadvantages, the shipyard, designers and dealers reputation, and that brand / models market value. Don’t rush into purchasing a used boat bargain without thoroughly investigating the vessel’s history, and undertaking a professional survey to reveal any issues. Consulting an industry expert like Multihull Solutions will arm you with everything you need to make an informed and smart purchasing decision.
Failing to Ask for Advice
If you’re a first-time buyer, the whole process may feel a little intimidating. The good news is that you don’t have to go it alone. With the advice and expertise of Multihull Solutions, you can inspect a huge array of multihulls from an extensive range of manufacturers. Multihull Solutions does not exclusively represent one brand, but rather delivers unbiased advice on a variety of the world’s leading shipyards to ensure you purchase the boat that is right for you.
If you’re wanting to buy your first boat and want to avoid making costly mistakes, don’t hesitate to get in touch with our team.