Is Building a Boat Better Than Buying a Used Boat?
One of the most complex and costly product for a consumer to buy is probably the boat. Whether you are building a boat or buying a used one, you need to reassure yourself with a lot of research and reliable information. No matter what you decide to do, for your project to progress smoothly, you have to plan, estimate, source, and allot time for completion.
Building a boat requires you to start from scratch. It involves a lot of time and effort as well as finance, keeping in view the size of your vessel. But the end product is your dreamboat customized to your satisfaction. The pain and pleasure of creating by being involved in planning, designing, purchasing materials, sourcing finance to organizing manpower is in itself a rewarding experience. For most people build boats for pleasure and enjoyment than as an investment.
In today’s world with the precision and sophistication involved in boat building, the cost is gradually becoming prohibitive and construction time consuming. Therefore, to be cost effective, buying a used boat and renovating it makes sound financial sense. Experience proves that, whether old or new, no boat is hassle free.
The two most important factors to be considered for building a boat or buying an old one is cost and time. A comparative cost analysis is to be done of the price of a new boat and the cost and refurbishing budget of the old. In majority of the cases it has been proved that projects involving old boats are accomplished at lesser cost and shorter time than building a new one.
Exceptions are always there. At times old boats may cost more than a new one if you stray from your budget. But with sound planning and control, an old boat can be had for far less than the cost of a new one commanding a value in the resale market.