The purchase price is just the entry fee to a "hole in the water where you throw money" [33]. Experts suggest having at least in your accounts and budgeting 10%–20% of the purchase price annually for maintenance [5.3, 5.8].
If you want a "cabin" feel with a bathroom and kitchen, you'll likely look at larger motor yachts or cruisers, typically starting around 21+ feet [2, 27].
Whether buying new from a dealer or used from a private seller, never skip a [14, 26]. If buying used, keep a sharp eye out for these red flags: buying my first boat
Look for "tin" (aluminum) boats, bass boats, or center consoles with open layouts and specialized gear like livewells [12, 35].
Check for "spongy" soft spots on the deck, transom cracks, or water drips around hatches [10, 21]. The purchase price is just the entry fee
Before looking at listings, define how you intend to spend your time on the water. Different activities require specific hull designs and features:
Factor in monthly marina fees or the cost of a dedicated storage unit if you aren't keeping it on a trailer [15, 27]. Whether buying new from a dealer or used
Life jackets for every passenger, fire extinguishers, flares, a marine radio (VHF), and an anchor [15, 24]. 3. Inspecting a Potential Vessel