Boats have long been a symbol of wealth and luxury, and boat ownership is still seen as associated with the rich. While at the top end of the price range it's true that boats can get extremely expensive, there's a whole world of different types out there and the prices vary considerably.

If you've looked at various price points for boats and still feel like you can't afford one, there may be a way around it. Here are some suggestions that might help you get out on the water and enjoy the freedom of owning a new boat for sale, even if you have a limited budget.

Find out what funding is available

Some boat owners had the funds to hand over the full cost at once when they bought their boat, but many didn't. There are plenty of people out there enjoying their boats who used a combination of saving and financing so they could afford it.

A lot of boat dealers have their own financing options, so just like buying a car or various other expensive items, you can pay an affordable monthly amount. If this option isn't available to you, you might be able to take out a bank loan or some other type of credit agreement with an external organisation, but be careful not to get yourself into a situation that will cause you problems.

Consider shared ownership

If you have friends or family members who are also interested in boating, you could split the cost of a new vessel and share ownership of it.

Although this means the boat may not always be available when you want it, it's a great choice for people who expect to use their boat infrequently. If you choose to go this route, it's worth drawing up a written agreement to make sure everyone acts fairly.

Check what the extras will really cost

Some people are put off buying a boat because of all the extras that need to be paid for – insurance, equipment, fuel, mooring. However, they may not be as much as you think.

Spend some time finding out exactly what this will all cost and work out a proper total instead of assuming or estimating. Find out where you can cut corners or get good deals to bring the cost down.

Think of ways to make a bit of money back

It's sometimes possible to reduce the total cost of a boat by using it to make some money back. You could rent it out, provide tours or guided fishing trips, or take payment for any other activity that requires a boat.

This can be a really effective way to offset the cost of a boat, but make sure you check any licensing and insurance requirements before you get started.

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