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Boats can be expensive but buying a boat that needs repair work done due to hurricane damages might be a giveaway! How do you know if you will be saving money or end up spending more?
The saying goes, “One man’s trash is another man’s treasure.”
Buying a Hurricane damaged vessel or a storm-damaged vessel can be a risk, but it can also be a big money saver if you get the right deal; for many boaters, this is a great opportunity, many choose to buy, repair, and then sell, making a profit, and for some, it is an opportunity to get a boat at a great price.
To restore a damaged boat, you need the skills and resources to do so; keep in mind that hiring skilled labor for the work is expensive.
1. Is this project right for you? Are you committed?
2. Do you have the skills to make the necessary repairs?
3. Are you doing the repairs yourself, or do you need skilled labor?
4. Repairing the boat can take weeks/ months, so where will you work on the damaged boat? Do you need to hire/rent a place where you can work on the boat, or can you do it from your own backyard?
5. Moving the boat to your workplace, how much will it cost?
6. Do you have a trailer or stand to work on the boat?
7. Hire a professional to help evaluate the damages of the boat and to help determine the cost of repairs (Highly recommended)
When you look for a hurricane-damaged boat, think of it as you shopping for a used boat.
1. Was the boat well maintained before the hurricane damages.
2. Does the boat have the equipment and gear you want or need?
3. What are the engine hours?
4. Check the resale value of the boat; this will help you with your buy.
5. Check the conditions of the sail and rig.
6. Hire a professional to help evaluate the damages of the boat and to help determine the cost of repairs (Many boats have hidden damages that we often miss, and this can cost you dearly later if the problem goes unnoticed)
7. Check the hull for damage.
8. Stay away from a boat that has been submerged (you will never truly know the extent of the damages)
9. A proper inspection inside and outside the boat is required.
10. Check the engine for damages.
11. Check all the equipment on the boat.
12. Check the boat from bow to stern for scratches, dents, and structural damage, check for water leakage.
This is when a boat is flooded with water or underwater; submersion causes many damages to a boat, every part of the boat is affected/ damaged, and it is best to avoid a boat that has been submerged.
This type of damage is very common; this is caused by a vessel rubbing up against a dock, pilling, or other boats. The damages can vary from scratches to structural damage; depending on the extent of the damages, you require special fiber glassing skills to repair.
Check for damages such as; broken bonds on bulkheads, damaged hull and deck joints, and other structural failures
is caused by the impact of a vessel on the seabed or waterway side; this is very common during hurricane season and causes damages to underwater fitting and gear such as; bent rudders, propeller shafts damaged props and keels, fiberglass damage (check the hull and the turn of the bilge and on the chine) Check the steering system, stringers, bulkhead bonding, and frames. Inspect inside the boat, as you might notice problems from the inside that were not visible from the outside.
Wind can cause a variety of damages, shredded sails, and canvases, mast falling on the deck, Bimini tops coming loose, boats are blown off their stands, strong winds can cause the boat to capsize, broken frames, etc. if there are rain and wind, water damage inside the boat is also possible.
This damage occurs during the recovery of a vessel caused by pulling or lifting the boat and transporting the boat. Damages include hull damage, cleats ripped out, rig damage, rudder damage.
You can contact insurance companies, local surveyors, salvage companies, or local marine transportation companies. They will have information about auction deals or sales details; you might also find an auction listing in your local paper.
Buying and restoring boats with hurricane damage can be rewarding if done correctly, take your time, do a proper inspection inside and outside. Hire a professional to assist you in the assessment.
The Marine store near you, shop online, and get the best prices!
This is how it all started for Budget boat things; the owners bought one of the damaged boats and began with the repair work; after the boat was restored, they sailed all over the Caribbean and decided to start the online store, where you can shop for Marine boat parts, Marine Boats Accessories, Marine boat equipment, Marine cleaning supplies.
Typically buying a storm-damaged boat that needs to be repaired is not everyone’s example of an adventure but many sailors start this way and sailing then becomes part of their life.
Always be cautious and use common sense to avoid purchasing a black hole in the ocean where all your money vanishes to. Never rush when making a decision like this, take your time to find the perfect boat for you. Insurance sales will most likely have the best deals due to the reason that the boat might have been worth more than before the damage and that is why it was insured. There will be a bigger selection when waiting witch may most likely lead to better deals.
When buying a boat that was liquidated by an insurance company, be prepared and know what project suites you when purchasing storm-damaged boats.
Be sure that you will be able to do the repairs needed. Skilled labor is expensive and you will probably need so to hire others to do most of the work.
Always make sure that you fully understand what you are buying no matter who you are dealing with. Be sure that you will get the title clear and free and that the seller does have the right to sell you that boat.
When you become the new owner after the auctioneer’s gavel hits the block you do not want to end up with a yard or salvage bill.
Never bind a contract before understanding and reading everything.
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