How to Buy a Yacht
Is your dream to buy Your own Superyacht?
If your answer is yes, you should read this. In this yacht buying guide, you will learn:
- What are the main questions to ask yourself before buying your first yacht,
- How to understand which type of yacht is right for you,
- How to get started in yachting.
Let’s jump right in.
HOW TO BUY A YACHT: START WITH WHY
Whether you are already an experienced yacht owner or are just starting out, there is always a lot to learn and to try out.
The superyacht industry is very complex and can easily become overwhelming for any yacht owner.
The best way to start yacht search is to ask yourself why you want to buy your own yacht.
Yachtowner.co prepared a list of top questions to ask yourself while considering to purchase a boat. Make your own notes while you read!
USE YOUR NETWORK TO START YACHTING
The best way to understand your own taste in yachting is to try out as many different yachts as possible. The more different yachts you’ve been on, the better you know yourself.
Think if you have friends who can invite you for a holiday on their yacht.
Or perhaps you heard of someone who bought a yacht some time ago and could share his or her experiences with you?
Personal owner-to-owner experiences and insights are a great source of information to make yourself a picture of your future life as a yacht owner.
TRY YACHT CHARTER BEFORE BUYING A YACHT
Charter different types of motor and sailing yachts before making your first yacht purchase.
By chartering, you will understand much more clearly what exactly it is that you need onboard of your future yacht.
No two persons are the same, and only by gaining your own yachting experience you can understand what features are of primary importance for you.
Make and write down a list of absolute must-haves and other optional “nice to have” features.
Great advantage of chartering a yacht is the possibility to dive into the wonders of sailing without having to worry about the operational and navigational sides of a cruise, while keeping your financial commitment low.
Today’s superyacht fleet is so diverse that everybody will find what they are looking for.
Make sure to book a yacht with an experienced crew onboard who knows the region you are about to sail well.
A well-versed crew can make or break your whole charter experience!
Find all essential details you need to know in our Step by Step Guide to Yacht Charter.
UNDERSTAND THE COMPLEXITY & COST OF OWNERSHIP BEFORE BUYING A YACHT
If after several successful yacht charters, you realize that yachting is your passion and you want to buy a yacht of your own, congratulations!
You are on a good way to attaining freedom and lifestyle which only a handful of people ever have a chance to experience.
By now, you already went through our list of questions and made your notes. The picture in your head is starting to get more precise.
Of all the points we raised so far, two questions are the most important at this stage:
- Do I want to build a new yacht or to purchase a second hand one?
- Do I understand the scope and cost of daily operations and maintenance downtime well enough?
New build is a complex, long, but a very rewarding experience. It requires commitment and dedication, but once completed, you can be sure that you get that exact yacht of your dreams, with your imagination and budget being the only limits of what is possible.
We highly advise you to take your time and understand the new build process, its phases, time frames and costs as detailed as possible before you start.
Great deal of yachting experience is about managing your expectations versus upcoming reality.
There is probably no other activity in the world which can be as fulfilling and pleasurable as yachting.
However, if you are not prepared, it can get frustrating and very costly very fast.
Many owners are not eager to dig into details of yacht operations, maintenance schedule, crew training and other specifics.
Fair enough, since you are the one who worked hard in your life to have qualified professionals running your yacht for you.
However, to our experience, is it exactly the lack of understanding of upcoming costs and necessity of maintenance that ruins yachting experience for many owners.
No one wants to pay an unexpected and costly invoice, or to realize that you cannot use your own yacht during a specific week due to maintenance work.
Our best advice to you as an owner is to read about the industry and clarify at least the main financial and operational details before you decide to purchase.
The more you know, the better your experience and the fewer unpleasant surprises you will get.
Being aware of upcoming costs and operational limitations of your superyacht is a great way for making the best out of your new favorite asset.
You can read more in our other article on Yacht Ownership Cost.
SUMMARY: HOW TO BUY A YACHT
In this yacht buying guide, we investigated which aspects are crucial to think about when deciding to buy a yacht.
Our advice: start with why, try out as many yachts as possible, book yacht charters, use your network.
Clarify the complexity and cost of future operations to avoid surprises.
And most importantly, take any opportunity to educate yourself on the industry.
Read more articles on Yachtowner.co to get all the knowledge you need. We suggest you continue by learning about the best places to buy a yacht.
Drop us a line if you want help with choosing a yacht to buy or charter. We will define your needs and find the best solution together!
We also want some feedback from you: What is the area of yacht ownership which concerns you the most?
Answer in the comments below!
Article by Yachtowner.co