Here’s a question we often hear at boat shows and on the docks. When planning to buy a sailboat, the question of budget is sometimes accompanied by thoughts about your future investment. Should you buy a new boat or a used one?
Boating is a passion that can be expensive. Between the price of the boat and its maintenance, the bill can quickly add up. Some of us, perhaps more reasonable than others, have decided to rent a boat for a few days or a week to reduce costs. And it’s true that the rental market is growing. But many, like me, have decided to become boat owners and opt for purchasing a boat. This might be the case if:
- You live near the coast
- You visit the coast very regularly
- You use your boat for at least 6 months of the year
- Or/and you are passionate about these hulls and the maintenance work they require.
For me, it’s reasons 1 and 2.
Yes, somewhere, buying a boat is a bit of madness, but a man or woman without a touch of madness must be quite bored sometimes. However, while buying a sailboat is a passion purchase, we must not set reason aside—far from it. And when the project of acquiring your future cruiser, catamaran, or pure racer comes up, you need to ask yourself several questions, including:
“Should you buy a new boat or a used boat?”
This question is important because it depends on the answers to many other questions, such as your sailing program and your needs. But also, obviously, the question of whether to buy or rent a boat. Once you’ve made your choice, you can buy your new or used boat at Band of Boats, the French website for sailboat and motorboat sales.
Mistakes When Buying a Boat
When you decide to invest in a boat, it’s because you already have a program in mind, a dream, and a head full of sailing images. But what kind of sailing? Indeed, when you buy a sailboat, it’s essential that it meets:
- Your sailing program
- Your type of sailing (with family, friends, alone, etc.)
- Your maritime and technical knowledge
- The time you can dedicate to maintenance
- Your purchase budget, as well as your maintenance budget.
The biggest mistake is buying a boat that doesn’t suit you. This often happens when you buy a boat thinking you’re getting a great deal or thinking you can buy something bigger or better equipped than you originally planned.
For example, consider a sailor who has set his sights on a new small weighted centerboard dinghy for day sailing or weekend trips, alone or with family. He discovers, in a boat listing, a used sailboat from the 80s, 10 meters long, for the same price. However, this boat is a racing keelboat that requires a lot of maintenance. Would he be getting a good deal by buying this boat? No, I don’t think so.
That’s why your sailing program must remain aligned with your budget when choosing your future sailboat. It’s essential. Otherwise, you’ll make a purchase you’ll regret. This is particularly true when:
- Buying a used sailboat larger than what you intended
- Acquiring a boat that no longer meets your initial criteria
- Falling in love with a sailboat that no longer fits your sailing program
- Choosing a sailboat that is too technical for you, and especially for your crew.
For all these reasons, you should not give in to the temptation of the competitive prices of some used boats. The goal is not to sail on the largest yacht possible.
But the temptation can also work the other way. For example, a couple who has set a budget to buy a used sailboat of 10 meters might be tempted by buying a new boat that is more expensive but more beautiful and modern. Will they be ready to handle the first sails and the adjustments that come with it? Will they be ready to accept that a neighboring boat moors alongside them for the night without stress? These are other questions that make you think.
Advantages and Disadvantages of a New Boat
New boats and used boats each have their advantages and disadvantages. Let’s start with new boats, especially sailboats. I’ll set aside the dockside rumors that have been circulating for years about the construction quality of new boats. They are often compared to the older units from the 80s. The construction qualities are different, certainly, but it would seem strange to think that shipyards’ expertise has decreased with experience. Even though it’s true that the structure of used sailboats up to the 90s is truly exceptional.
Yes, we must acknowledge that these boats have adapted to today’s sailors’ programs. New units are much more spacious and offer living spaces that are incomparable to what was available a few years ago. The cabins are larger, and it’s possible to use the bathroom without hurting your back. At the same time, the boats are brighter and more airy. These boats are designed for living at anchor or in the harbor, not at sea. But how many of us prepare a stew while sailing?
Finally, new units benefit from the latest technological advancements in rigging, hulls, and fittings. At the same time, your engine is also new and will therefore require fewer major expenses.
The bonus, when the sales market is tough, is that your seller can help you sell your old boat. They might even take it back in some cases. Finally, professionals can sometimes help you secure a mooring spot.
While new boats have many advantages, they also have a disadvantage. This disadvantage exists for all shipyards. When a boat takes to the sea for the first time, it begins to “live.” A boat is the work of many trades. It’s an assembly of different materials and supports. This assembly begins to “live” during its first sails. And we must admit that all of this needs to learn to coexist, to handle the sea, spray, and wind. You will often have to return to the shipyard’s customer service. But these boats are under warranty, so don’t worry, and dealers anticipate these minor issues.
Advantages and Disadvantages of a Used Boat
Compared to new boats, the used boat market is doing very well. Just look at the Mers&Bateaux listings. This dynamism is obviously linked to the price of used boats. But not only that. Indeed, sailboats over 10 meters, for example, offer many advantages:
- They are well equipped
- Any defects from their initial construction have been corrected
- You know their history
- Older sailboats from the 80s have character
- Old sailboats are beautiful
- You buy a sailboat that can perfectly match your program
- You benefit from feedback from the previous owner
However, while buying a used boat has many advantages beyond the price, they also have a disadvantage. The main one is that while the purchase price is lower, the maintenance cost of the boat is identical or even higher. Indeed, an older boat requires more monitoring, repairs, and upgrades. Additionally, for the same size, the cost of the mooring spot and insurance remains more or less the same.
Finally, the major disadvantage is the depreciation of the boat. While in the past, the depreciation of a new boat’s price was faster than that of a used boat, this is no longer the case today. The used market is completely saturated, and prices drop very quickly. Selling your proud vessel will be complicated.