The refurbishing of cars is a very lucrative business; people buy a cheap car, fix it up, and then sell it at a higher price. But did you know that you can do the same with boats and generate even better returns? Buying an old boat, cleaning it, and then selling it can be very lucrative if you know how to do it. Let's take a look at some key tips to improve your returns with each boat.

Buying a cheap boat

People assume that buying a cheap or secondhand boat is easy and simple. However, this could not be further from the truth. For good returns, it's vital that you understand the current state of the market and major red flags to look out for when buying a boat is vital for good returns. Buying a secondhand boat is almost always the best option; they are considerably cheaper, and all of its issues will be obvious. Therefore, fixing and cleaning it up will be easier.

 As with any business endeavor, research is vital for success. If you have a particular model in mind, it is important to research it in depth. If possible, find an owner of that particular model and ask them about how the boat sails. The more research you do, the less chance of you going bankrupt. The next step is to find a proper surveyor; this can potentially save you thousands of dollars as the surveyor may find issues you had no clue about. A surveyor can provide a list of problems allowing you to properly solve each issue.

Cleaning and fixing the boat

After you buy a cheap or secondhand boat, cleaning, and repairing are the next tasks. One of the first places to clean is the carpet of the boat. A simple yet effective method is to use a power washer to wash down the carpet. After the carpet dries, vacuum it. This will effectively clean the carpet and make it look as good as new.

To clean the vinyl, don't use strong detergents as they may remove the anti-microbials oftentimes present. Just a simple combination of soapy water and a simple rag to wipe it off is plenty. Cushions often are full of dust and grime. Properly cleaning the cushions consists of cleaning both the cover and the inside. To properly clean the cover, simple cold water can do the trick. Using the washing machine can cause damage to the cushions, so refrain from doing so. For the foam, placing baking soda and let it settle for a few hours before using a mixture of water and vinegar to clean it. Keep soaking with water until all the grime comes off.

The hull of the boat is often full of stains and discolorations. Use power washers for the whole hull, keeping in mind all the tiny crevices. While the boat is still wet, use a boat cleaner along with a sponge to completely remove any stains. The engine of the boat needs regular cleaning. Think of it as similar to the one in your car and clean it the same way. If the engine is in particularly bad shape, it is better to allow a professional to clean it so that the wires and components do not suffer from damage.

Along with cleaning the boat, repairing and maintenance are just as important in order to sell for the highest price. There are two main types of repairs, breakdown, and maintenance. As the name suggests, maintenance repairs are those actions that help to avoid breakdown, which, in the long run, save money. Due to the negligence of previous boat owners, the boat requires many repairs before it returns to mint condition. In order to find out all the possible repairs, a surveyor can be extremely helpful.

Hull damage is one of the most common types of damage. To repair the hull, you need to use a fiberglass repair kit. Remove the damaged part of the hull and replace it with fiberglass. Another type of repair is core repair, which is more expensive than other repairs. Remove the fiberglass skin and insert a replacement core. Electrical issues can also arise, and you need to address them. Check all cables and wires to prevent any loose wiring. Inspect fuse boxes, motors, and blowers to ensure they are working at maximum efficiency.

In certain circumstances, repairing is necessary; however, the best-case scenario is boat maintenance. Some simple tips can help maintain longevity, such as

• Going through the equipment whilst reading the manual
• Regular maintenance of the boat
• Notice any small deviations from performance and solve the issue

Selling the boat

Nowadays, in the modern age of the Internet, selling anything has never been so easy, and the same applies to boats. Various websites, such as Amazon and Craigslist, are an easy place to sell boats. You can ask fellow boat owners if anyone is looking for a boat; word of mouth can be extremely helpful. Selling your new refurbished boat at an auction can also provide great returns. Explore all these options to get the best possible price.