How to Renovate a Boat

Hire a seasoned surveyor. Check references and credentials. Interview him to find out how many boats like yours he has inspected. Ask him if he will include a discount on a second inspection to check repairs.

Accompany the surveyor during the inspection, asking questions about his opinion for the best method for making critical repairs. Ask him if he has any ballpark figures for the typical costs of those repairs. An experienced surveyor can provide valuable advice about a renovation project. Build rapport with him so you can use him as a future resource. Ask him for contractor referrals.

Prepare a preliminary budget for the renovation based on the inspection report and pricing research. Obtain pricing information by calling professionals and other boaters to inquire about the cost of materials. Ask for an hourly labor charge for professional help. Start by budgeting for each project, broken down as flooring, engine repair and electrical work, for examples. Some mechanical projects will be combined with others when deemed necessary by the contractor in charge of that repair. Add an additional 20 percent to your preliminary budget to account for surprises and miscalculations.

Plan the renovation project using the survey report as a guide. Prepare a time line for renovating different sections of the boat, keeping in mind that the working area is small. Divide the renovation project into smaller projects when practical, for scheduling and hiring purposes. Some projects are inter-related and must be repaired together.

Interview boat mechanics and contractors about experience and price for each task. Boating magazines, Internet forums and other boat-related groups offer good resources for obtaining contractor referrals. Interview several qualified mechanics for each task. Ask for detailed bids showing itemized costs on materials and labor. Check references. Select seasoned professionals with the best references and a competitive bid. Beware of the lowest bid. Some restrictions about using outside contractors may apply in some boatyards.

Update the project budget to reflect any changes based on the contractors' estimates.

Begin the project. Review contractor progress frequently in person.

Perform a final inspection before releasing payment to a contractor for completion of a project. For large ticket repairs, invite a surveyor out to inspect the finished work.