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Buying A Narrow Boat In 5 Easy Steps

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Mon Mar 10, 2014 at 11:30am

5 Good ideas to follow when buying a narrow boat. 

1.Do your homework before you start looking

This is a really important part of the buying process and being armed with the right advice and information will make the process of buying a narrow boat more pleasurable and less stressful.

The temptation to jump in feet first is not a wise move, take a step back and let’s look at what information you should gather before visiting any boats.

  • How often you are going to use the boat? 
  • What are you going to use it for?
  • How much cruising are you going to do?
  • New or used narrow boat?
  • What style will best suit you; traditional, semi trad, cruiser, wide beam?What size do you need?
  • How much do you want to spend?

Use the internet to do your homework there are plenty of useful websites and forums that will help answer any questions you may have. If you are unsure what style and size boat will best suit your needs then check out brokerage websites to see the different styles.

It’s also a good idea to talk to people who already own a narrow boat as they will be able to guide you and help you.

2. Visit marinas

Now you know what you are looking for it’s time to start looking for that dream boat. By visiting marinas you will have easy access to a lot of boats all in one place.

Make a list of the boats you would like to view, this way you will be prepared and will save time on the day you visit, giving you more time to spend on the boats and talking to the staff.

It’s also a good idea to have a list of questions you may want to ask the broker written down. If you think you are going to need an hour or so to go over things, try ringing the marina first to see if they will make an appointment for you.

3. Get your finance in place

Knowing how much money you have to spend is always a good thing.  There are specialist marine mortgage companies who can help and advise you, as well as the high street banks if you need to borrow money to make your purchase. A marine mortgage works in the same way as when you purchase a mortgage for a house, and you will need a deposit of roughly 20% of the boats purchase price.

If you have your finances in place you will be in a good position when you make an offer. Most brokers will ask you how you intend to finance your purchase. If you are using a marine mortgage company they will be able to produce a letter of intent, and if you are in the process of selling a property, your solicitor will be able to supply a letter when you are close to completion.

4. Sort out your moorings

Knowing where you are going to keep your new purchase is a must. if you buy from a marina they will more than likely allow you to stay a few days whilst you get your belongings on board and sort yourself out, but then it will be time to move on. If you are going to be continuously cruising this isn’t going to be a problem, you just need to decide which way you are going to go!

But for those of you that need moorings, looking into this before your purchase is a good idea. Types of mooring options are explained on the Canal and River Trust website, this is where you will also need to obtain your mooring licence from.

5. Get a survey before you buy

Just like when you buy a property, you should have a survey carried out. This will give you as the buyer a clear indication of the boats condition and if there is something wrong you may be able to get the seller to put it right or to reduce the price. If working with a brokerage company they will be able to handle this for you.

So that’s it!

Hopefully you will now be in a good position to go out and buy yourself a new narrow boat. Remember it’s a large financial investment and should be carefully thought out.  

» Categories: General, Buying A Narrow Boat

1 Comment

Russ Fsk | Thu Apr 27, 2017 at 5:13pm
Thanks - very useful site

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