Most boat enthusiasts dive into buying a boat without understanding the difficulties of owning one. It’s no secret that the boating industry is booming – the annual U.S. marine industry expenditure for boats and related services was $56.7 billion in 2021.
However, most buyers become boat owners without adequate preparation. For starters, every state in the U.S. has different boating regulations.
Some states require a boating education card while others have strict waterway rules regarding specific types of boats. Not to mention all U.S. recreational vessels require proper registration.
Not understanding these rules and regulations can lead to hefty fines – not having life jackets on board alone can carry a $200 fine. That said, even if you tick all those things, you have to stay on top of your boat’s maintenance to keep it in good shape. Annual maintenance for a boat is around 10% of the boat’s cost.
If you have external boat storage that keeps your boat out of the water, you only have