So, You've Decided to Buy a Boat...
Posted on 22nd May 2019 at 19:37
Some decent statistics that can help you while you're trying to buy a boat in Florida!
Florida is a unique state in many ways (Florida Man Challenge notwithstanding…). One of Florida’s obvious differentiators is the fact that it is a peninsula. With access to the Gulf of Mexico, the Atlantic Ocean, and being relatively close to the Caribbean, its the #1 state in the US for recreational boating. According to the NMMA, boating in Florida generated $23.3 BILLION in revenue. The next closest state is California at $13 billion.
Florida’s location, its transient population, and its weather patterns create a “boating season” that is opposite to that of the rest of the country. Where the rest of the US is celebrating snow melting and the start of official boating season, Florida is preparing to slow down for the spring and summer. April & May begin the exodus of “Snowbirds” leaving the state to return to their northern homes, until winter comes again. More often than not, they don’t take their boats with them when they leave. Instead, they opt to store them or “summerize” them while they’re not being used until they return in November.
All these factors add up to a great buyer’s market if you are considering buying a boat. In total, there are ~950,000 boats of all different shapes and sizes in Florida, and there are about 900,000 “Snowbirds” who leave the state for 6 months or more. The cost of storing a boat, in addition to maintaining that boat while it’s in use can be daunting to some. So every year, there are just under a million people who are thinking “Is it worth it to store my boat for another year, or should I just sell it?” For some, the answer is "No". In turn, this means that in the April/May time frame, there are thousands of boats that go up for sale in the sunshine state.
Buying a boat is a huge undertaking, but there are ways that a smart buyer can avoid over paying. There are so many “When Should I Buy a Boat?” articles out there, so we wanted to give you our take on them.
Buy used. Like any other big purchase (other than real estate), boats depreciate in value over time. Buying a new boat that has been customized to your heart’s desire can be a great feeling, but 2 years later, the value of that boat will be a fraction of what you paid for it. Buying the right 2 year old boat will get you all the same bells and whistles you want, at a fraction of the “new” price. Also, if you find the right shop, you can buy a cheap boat and have it “tricked out” to your heart’s content for a fraction of the cost. (Amzim has restored dozens of boats in its lifetime, and we’ve sold even more).
If you’re buying a used boat in Florida, the best time to start looking is that end of April/May timeframe. You can find great deals for used boats with relatively low hours, that have been kept on lifts or in storage facilities.
Buying a boat is not something solely reserved for the rich and famous. In fact, the NMMA reports that 62% of boat owners have a household income of less than $100,000. There is a boat out there in your price range, and it can bring you years of joy with your family and friends. Don’t miss out because you think you can’t afford it.
Look at buying Florida boats, even if you don’t live in Florida. Most boat dealerships and brokerages are 100% willing to help you find the exact right boat for you and get it to you no matter where you are. Hauling a boat from Florida to Michigan is not as expensive as you’d think. In fact, shipping a boat to England isn’t as expensive as you’d think. Ask your broker or dealer what their options are for long distance hauls out of state.
These are just a few of the valid points we’ve seen published recently. At Amzim Marine, we enjoy strong and trustworthy relationships with our boat buyers and sellers. We are here to guide you with our many decades of experience.
If you’d like to take a look at what Amzim Marine Services has for sale, you can check us out on YachtWorld at https://bit.ly/2l5gfR0, or you can call us at (239)228-6713. Not only are we a used boat brokerage, but we are also a Mercury Certified Service Center. There is no boat related question that our staff cannot answer. Test us!
- Your Friendly Neighborhood Boat Blogger
Chris Shand
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