Your boat has seen better days. She could use a lick of paint, the interior is no longer what it used to be and some of the equipment needs replacing. Are you going to restore her or is it time for a new boat? To answer this question, there are a few things you want to consider.
How is your boat?
If your boat only needs a lick of paint, the restoration won’t be much work. You may be able to get started with the brush yourself and spend very little on renewing the appearance of your boat. However, if your boat has one foot in the water’s grave and needs major repairs, it is a good idea to carefully calculate how much a restoration will cost you. Do you have rust spots to be removed from an old steel ship or do you have a polyester boat with a discoloured or damaged gelcoat? The price of the restoration and the value of your boat depend on, among other things, what kind of boat you have and what material it is made of.
Do it yourself or get help?
Are you a handyman? Then you will probably be able to repair some things on your boat yourself. This way you will save a lot on labor costs. Is your boat in a very bad condition and do you need the help of a professional? Then you will spend a lot more on the repair of your boat, especially if a thorough restoration is needed. Request quotes from different restoration companies, so that you can get an accurate estimate.
How much is the boat worth?
Do you expect to spend a lot on the restoration of your boat? Then it is a good idea to consider whether your boat is still worth it. You can find out by having a boat appraisal carried out. A boat appraiser determines the market value of your boat at that time. If your boat still has a high market value, restoration is a good option. Is your boat worth very little? Then it may be advisable to sell your boat and buy a new one. Also consider how long your boat can last after the restoration. If the restoration is going to cost a lot and your boat will probably need a major overhaul again in five years, restoration is not a good option.
Emotional value or market value?
The market value of the boat will probably play a role in your decision to restore or not. However, if your boat has a high sentimental value or is a very rare model, it may still be worth restoring. After all, money isn't everything.
Make sure your boat lasts as long as possible
Do you have a boat in good or reasonably good condition? To prevent a thorough restoration in the near future, it needs to be refurbished every now and then. Keep your boat clean, carry out minor repairs in a timely manner and wax it regularly. If you don't have time to do this yourself, hire a cleaning or repair company.
Selling your boat
Have you come to the conclusion that restoring the boat is of little use? Then it is always worth trying to sell the boat. The sales amount can contribute to the amount needed to buy another boat. Need tips on selling your boat? (https://www.schepenkring.nl/geen-onderdeel-van-een-categorie/boot-verkopen-deze-vijf-tips-gaan-je-helpen/) Doing a major cleaning, having your boat appraised and having professional photos taken is definitely recommended.
To restore or not to restore?
Does your boat still have a reasonable market value and will the repairs not cost you too much? Then restoring your boat is a good option. Has your boat had its best time, is it not worth much anymore and are you ready for a change? Then it is probably time to sell your boat and buy a new model. That way you can optimally enjoy new boating adventures again!
