Boat Costs And Memberships

The first thing you’ll need to decide when buying a boat is what your monthly budget will allow. There are a range of prices to consider—from several thousand dollars to tens of thousands of dollars—based on the size, features and uses of a particular boat. Fortunately, many entry-level or "beginner" boats are quite affordable and some cost even less than $200 per month.

But, when buying a boat you must consider additional costs, too. Here are a few additional things you should be prepared to pay for or buy:

*Accessories for the boat including life jackets, horns, monitoring systems and gear associated with skiing or boarding.

*Storage for the boat including renting space at a rack facility or a marina slip.

*Insurance for your boat that will vary according to length and type, cost and coverage options.