Look at you, contemplating buying your first yacht…welcome to the good life. You must have noticed by now that when you hear someone owns a yacht, it means that they are loaded like crazy. You seem to fit that category and are here to determine the best way forward. Well, it is not that easy but I’ll get you started on the right track.
They come in three basic types, standard, Mega, and SUPER. The standard yachts range from 30 ft. to 150 ft. long. The Mega yachts from 100 – 200 ft. and the SUPER yachts are above 200ft. long. Determining the size of the yacht you want is essential because it will affect your sailing, cruising, and treasure hunting experiences. Furthermore, your sailing experience and qualifications will also influence the size of the boat you’ll go for. Smaller yachts are obviously more affordable and easier to sail.
Most people in the league of yacht owners own yachts within the range of 40 to 70 ft. Most people go for used yachts and boats for sale because you can easily acquire a used yacht between 25 and 50 ft. from as little $100, 000 to $200, 000.
Choosing The One
Picking the right yacht should take a process. Considering your status, you should know better than just buying the first thing you set your eyes on. You can either get a custom-made boat or go for one that has already been made but then have it customized. Of course, the latter option won’t give you much flexibility in terms of customization but it will be easier on your pockets if they are sensitive. In addition, there is definitely the option for used boats, which will prove to be the most affordable option for most people.
Consider what you intend to be using the yacht for. Mind you, the cost of maintaining a yacht can be quite expensive if you are not careful. Go for something you can handle. In this case, how and where you’ll be using the boat will prove significant. Smaller boats are easier to sail and maintain while larger ones will prove demanding in these aspects. Yachts that will be used for business purposes will also prove demanding while those that you’ll be using for leisure will be gentler on your pockets. Furthermore, the number of people you’ll be bringing on board will also be an issue because you’ll need to not only guarantee their safety but also the proper functionality of the boat.
You will also have to deal with where you’ll be docking the boat for storage. The size of the yacht will be an issue here, as it will determine the depth of the water at the docking area. You will also have to deal with legal issues, for instance, there are places you may not be allowed to dock or sail through and it is important that you determine where these places are. If your yacht is quite high, lower bridges will be a problem. Knowing everything about your boat will help you determine the best docking and storage locations.
Seriously, get help and invest in a yacht broker. This person is similar to a real estate agent but one who specialized on yachts. According to boats.com, an experienced yacht broker will make the job much easier for you because chances are that he or she already knows all the stuff you’ve read so far and more. A reliable yacht broker will consider your yacht needs and preferences and help you acquire exactly what you need. It may cost you something but the time, energy, and money the yacht broker will save you will be worth it.
Finally, you may be planning to advance and get a super yacht or perhaps become a serious investor in yachts. In this case, it is important to consider the resale value of the yacht you’ll acquire. Unless you are absolutely sure of what you are buying, for starters, it may be beneficial to buy something small and maintainable just to get the feel of what it is exactly you are getting yourself into. This way, you’ll get to learn everything you need to learn and when you feel confident enough, you can sell the smaller yacht and add extra money to get something big; the one you wanted. Like any other vehicle or transportation machine, yachts depreciate in value once acquired, apart from the rare and limited editions. I know you understand. All I’m saying is, be careful!
I bet you agree that that’s enough information to get you started on your journey of mindless cruises, treasure hunts, wild parties at Ibiza or piracy (you are on your own if you get caught). Happy Yachting!