Formerly an investment banker, Romeo DiBattista, Jr., serves as the CEO of Brovi Investments Ltd., a Toronto-based investment company that focuses on commercial and industrial real estate. An avid boater, Romeo DiBattista, Jr., can often be found on the water in his spare time. Buying a boat presents a number of challenges, especially for the first-timer, so keep these tips in mind to make the right purchase.
1. Give serious consideration to buying pre-owned. Over 955,000 pre-owned boats are sold in the United States annually, whereas the corresponding figure for new ones amounts to just a little over 532,000. Understand what you want from your boat and budget accordingly. Buying used also limits your spending, should you decide that boating isn’t for you.
2. Most states require you to have completed a boating course and acquired a certificate before you are allowed on the water unsupervised. The U.S. Coast Guard Auxiliary offers courses, as do other organizations. Always do your research before paying for a course to confirm that it meets the requirements established by your state.
3. Avoid buying a wooden boat unless you are prepared to deal with the maintenance costs. Although neither fiberglass nor aluminum rot like wood, failing to maintain boats of these materials can also lead to problems.
Experienced business leader Romeo DiBattista, Jr., has held executive positions at such companies as Rom-neg Construction and Standard Securities Capital Corporation over the course of his nearly 20-year career. He currently leads both Brovi Investments Limited and the Recycling Depot as CEO. In his free time, Romeo DiBattista, Jr., enjoys boating and yachting.
Many individuals use the terms “boat” and “yacht” interchangeably, but the two terms actually refer to two very different things. In most cases, boats are sea vessels that are relatively small. However, some boats can reach up to 197 feet from bow to stern, so size alone is not a good differentiator. For this reason, yachts and boats are also distinguished based on their level of luxury and their use. Generally, boats are non-luxurious and instead focus on being more practical. Boats can also be used for either work or recreational activities.
Yachts, on the other hand, are extremely luxurious. While they have all the necessary components to operate on the water properly, they also include luxury items such as high-quality varnish on the hull, improved privacy, and a homey atmosphere. Yachts are not used for work at all and are solely used as recreational vessels. Due to this, yacht owners tend to put much more time into maintaining their vessel. On average, yachts are larger than boats, but this does vary. Regular yachts typically start at around 34 feet long, but super yachts may reach lengths of greater than 200 feet.