What to look out for
- Adding features: boat builders and retailers will usually offer optional extras. Though tempting, these could increase your costs significantly.
- Safety costs: reserve some budget for safety equipment and general chandlery.
- Sales agreements: if the boat is being supplied by an agent, you'll need to sign an agreement detailing the terms of your purchase, payment schedule, transfer of title and delivery timeframes. Note how any money you pay to the agent will be protected if you don't have title to the boat.
- Staged payments: if a boat builder is building a boat specifically for you, they may require stage payments. Ensure you establish what security is being offered during the build period.
- European rulings: new boats must comply with European safety requirement rules under the Recreational Craft Directive (RCD) and have a declaration of conformity when put on the market or into service. This is particularly important for boats built outside the European Economic Area (EEA).