Some of our slipholders have told us how much they love to be out on the open water. Whether for fishing, sailing, or just feeling the gentle waves help them unwind after a stressful week at work. But instead of just renting or chartering a boat for a day or a weekend, why not buy one? There are several benefits to owning a boat.
Fun and Recreation
Everybody likes a little spark in their life after a hectic workweek. Physical activities such as water skiing, wakeboarding, swimming and diving are fun. It’s sure to put a smile on everyone’s face and it’s also great exercise. Or perhaps you’re someone who loves the excitement of hooking a nice fish and the challenging fight of reeling it in. Shore people are limited to where they can set their hook. Having your own boat allows you access to the entire body of water. Whether it’s a lake, the open ocean, or here at the Chesapeake Bay.
Owning your own boat can bring a family closer together. Getting out of the house and away from the TV to enjoy a day on the Chesapeake is a great way to spend quality time with your family. It can also encourage teamwork and camaraderie as everyone learns to moor the boat to the dock, drop the anchor, or raise the sails. It can lead to fond memories that will last a lifetime.
As mentioned above, many boating activities help build muscle and burn calories. Just relaxing for a day while enjoying the peaceful serenity of being on the water will help you reduce stress. Of all stress-relieving activities, boating was listed in the top three in a 2005 survey by the National Marine Manufacturers Association.
Freedom and Adventure
Owning your own boat can raise your sense of pride and self-esteem. You are literally the captain of your own ship. You’ll be able to chart your own course and enjoy this new freedom that landlubbers can only dream about. If you like adventure, your boat can transport you to an island to explore. Or maybe it will help you find a new hot fishing spot that you would never have known about if you were still landlocked.
Depending on the size, boats are great places for family get-togethers, informal business meetings, or just hanging out with your friends. You’ll also likely meet fellow boaters and make new friends with whom you can share your aquatic adventures.
As a Long-Term Investment
Cars, by their nature, will usually suffer a lot more wear and tear during their life span than a boat. Boat ownership does require financial responsibility: registration fees, boat slip fees, maintenance, etc. But the enjoyment and activities you and your family will receive from owning a boat will far outweigh those expenses.
A Second Home
Another financial benefit is that if you spend enough time on your boat, among other things, the IRS has generally determined that it might be considered a second home, thereby qualifying it for a second home deduction. But you should definitely contact your tax advisor for details before you start making any deductions you might regret later!
Owning your own boat has many rewards. Most boat owners will tell you that this list is just the tip of the iceberg!