Here’s How You Can Increase Your Boat’s Value

With the proper maintenance and care, your boat could last you a good 20 years or more, but there is a chance you will decide to sell your boat before then. In making that decision, you may be considering some upgrades to increase the value of your boat.

Experts predict that pre-owned boat sales will increase dramatically in 2022, making this a great time to upgrade and sell your boat. Before you start planning for upgrades, determine what your boat is currently worth and then, select the upgrades that will provide the most value.

If your boat is in excellent condition already, it may not be cost-effective to make upgrades, as they may not add a significant enough amount to the selling price. But if you know that your boat could use some work, take a closer look at the top seven upgrades that can add value to your boat when you decide to sell.

#1. Update the Decking & Carpet

After a couple of years of walking on it, the exposure to the sun, moisture, and salt air, your decking and carpeting will start to show signs of wear. You will likely need to replace the flooring in your boat about every five years. You can take your boat to a dealer to have the flooring custom fit, or if you are working with a tighter budget, there are also do-it-yourself kits available.

#2. Adding LED Lighting

Updating your onboard lighting can instantly improve the ambience of your boat. Recessed LED lighting is excellent for larger yachts, but LED lighting strips will have the same effect for smaller boats.

They come in different styles and colours, so be creative as you add them under counters, the front of seat cushions, and around cup holders and speakers. When choosing LED strip lights, you will notice that some attach with an adhesive while others will need to be drilled in. The drilled-in version will bring you the best resale value.

#3. Update Technology

Who doesn’t love a great boat party? An updated marine stereo system, speakers and cutting-edge technology can be a great selling point for a potential buyer.

Other technologies such as fish finders, radar systems, and GPS systems can add value to your boat. Just make sure you don’t spend too much on the latest models if you plan to sell your boat in the next couple of years.

#4. Upgrade or Replace Your Canvas

The weather can cause the canvas on your boat to fade, stretch, or possibly even rip. Regular cleaning can help extend the life of the canvas, but you will still need to replace it about every five years.

Lightly used or brand new canvas is a great way to add to the resale value. In addition, creating a larger enclosure, adding a retractable sunshade, or increasing the height, can increase the value even more.

#5. Upgrade/Repair the Interior

When stepping on your boat, the interior should make a potential buyer feel comfortable and make them want to spend time there. So take a look at the interior and ask yourself if there is anything that stands out that needs updated or repaired.

Things like replacing fabrics on cushions, updating portholes or windows, or replacing flooring can give the interior of your boat a fresh new look. And if your boat has a galley, replacing appliances and countertops can also impress buyers.

#6. Upgrade/Repair the Exterior

It is essential to keep your boat’s exterior clean and free of damage to function properly, but it can also add value to your boat. Of course, you’ll want to make sure there is no damage to the hull and repair any damage that you find. And something as simple as a new coat of paint will work wonders and can make your boat look brand new.

#7. Have Your Engine Maintainenced Regularly

Making sure your boat’s engine undergoes regular maintenance is a great way to increase the value of your boat. Having all maintenance records available for buyers is a bonus and will definitely add value.

Corleone Marinas Can Help

While the increased value of recreational boats can make it easier to sell your boat, that also means there’s more competition, so you need to ensure that your boat has the updates that buyers are looking for. Keep in mind that upgrades don’t always have to be expensive and investing in less costly improvements such as adding USB charging ports and cup holders can also be attractive to buyers.

The shipwrights and marine mechanics at Corleone Marinas can help you get your boat in top shape when you’re ready to sell it. Our locations include Long Island, Elizabeth Bay, Balmain, and Drummoyne. We also provide various services at each of our stunning marinas, including berths, moorings, and on-site slipways.

Contact us today to learn more about our full range of marina services.

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