Many of us here at Sea Tow love the HGTV show “Love It or List It” and we’re pretty sure it is a hit with many of our members too. After a recent episode that generated lots of talk around the watercooler, the suggestion came up that we should do a: “Love it or List it” article for boats.
We’ve all heard the saying: “the two happiest days of a boat owner’s life are the day they buy a boat and the day they sell it.” Not all of us believe that though and some are downright offended by that statement. There is so much to consider when taking the steps to buy a boat, such as deciding which boat model best fits your lifestyle, budget, and the on-the-water activities you will be doing. There’s also the question as to if your dream boat comes turn-key, or with some needed elbow grease. Just as equally challenging is the decision for whether to sell your boat.
If you have an aging or damaged boat with emotional value, we say “love it” through a restoration project. Restoring an old boat is an undertaking that can be very satisfying to one that has an appreciation and love for boats. Before you attempt the restoration process, you first want to have the boat surveyed to determine its condition and imperfections. Then, create a plan to stay on budget. This will save time, money and frustrations. It will also help you determine what part of the project you will take on and what you will hire a professional to do.
If you decide that your boat just isn’t right for your family and you have not used it in years, we say “list it.” We all know there are different approaches to selling your boat, such as a certified dealer, or doing it yourself so choose what you are most comfortable with. If you do not mind the process of negotiating and would rather put all the money in your pocket, then selling your boat yourself might be the right approach. The best places to advertise are in local newspapers, online sale sites like Craigslist, and other websites that specialize in boat listings such as BoatTrader.com. When it comes down to the final offer, make certain that the funds you are receiving are verified through a bank. Have the title, manuals, and other paperwork ready at the time of sale.
If you decide that your boat has seen its last day, is too expensive to continue to repair and operate, and is literally rotting in your backyard, it might be time to either try to “list it” or get rid of it all together. Boats.com did an article on this very topic with some great suggestions for how to dispose of your boat if it’s so far gone that no one will buy it.So are you going to: love it, or list it?