January 6, 2020
7 Things to Consider Before You Plan to Buy a Yacht
Are you a sailing enthusiast? Or did you ever think of owning a luxury yacht for personal or commercial purposes? Whatever it be, it is a big dream, fulfilled only by a lucky few. Owning a yacht to your name would be something very exciting as well as a daunting task too, more so if you are a first-time buyer. If it has been your dream to sail in your boat someday then nothing can stop you if you have all the requisites ready to fulfil your dreams.
But even if you have all the requisites ready, you will need some expertise or understanding of boat or yacht buying. Buying a yacht is no less complicated than buying a luxury villa in some swanky surroundings that are furnished with 7-star facilities. A multi-millionaire affair, yacht buying can be a combination of fun, excitement, pride, and worries. Worries because you are shelling out a huge amount of your savings to fulfil once in a lifetime dream, and if you fall short of anything while examining your yacht before buying then you will end up with the buyer’s repentance and a vessel that would be difficult to get rid of. It is essential to get everything right to get the right deal.
To help you avoid undeserved disappointments, here we will discuss a few important factors to consider before you plan to buy a yacht.
Take note of these essential factors:-
Whenever you go for purchasing anything new and unknown things you generally do some research beforehand. Buying a yacht is no usual deal. Hence, it is always a good idea to do some study before you talk to any broker for the deal. Below points will help you acquaint with some very basic ideas that could be of great help to you. These are very essential to be aware of before you decide to swipe your card for the purchase.
1. Set a Price Range for Yourself
Understanding your buying capacity is the first step when you have plans to buy something very expensive. Buying a yacht does not come in the list of essential commodities. People who buy yachts generally already have their life set and get into the business of yachting due to their passion for yachts and sailing. And those who have plans to buy for personal sailing are not anybody who has to run from pillar to post to meet their ends. However, even then when you go for purchasing such an expensive high-end luxury vessel you will need to set a price range for yourself to avoid any level of disappointment of buying a wrong vessel. Nobody buys yachts to put them on exhibitions. Hence, when you buy you need to buy carefully and buy the right product too.
If you set a price, you will know what range of yachts you can afford and your focus will be only on that range. It is always better to go for vessels that come below your budget than going for those that are above.
Do keep in mind that buying a yacht will invite many additional costs like insurance maintenance, equipment, and furnishings which would further clip thousands of dollars at the very beginning of purchase. Moreover, when your vessel is not in use, you will have to pay for its storage. Additionally, do calculate the cost of real trips that will include the cost of fuel, crew members, food and other services. So, set a price range that is comfortable for you keeping everything in your mind.
2. Do You Possess a Sailing Experience?
Do not go for yacht buying just because it will make you look classy. It will be a complete waste and thoughtless if you simply want to buy a yacht to increase your social status unless you don’t mind wasting millions of dollars in useless things.
Moreover, ask yourself whether you are a veteran ocean sailor or a novice looking forward to adding sailing to your biodata. It is wise to go for comfortable and simple yachts if you have never sailed on your own before instead of investing in something technically complex.
If you are a seasoned sailor than nothing like buying a high-end yacht that will keep you engrossed for a longer period. In such a situation, even if you don’t have a crew and skipper to manage your yacht, you can still set out for sailing with your family and friends. Moreover, your high-end yacht will be of great help all along with the journey. Understand your abilities and inability before you decide what to buy. This will not only help you buy the right vessel; it will also help you save a huge amount of your savings.
3. What Are Your Sailing Plans?
What exactly you have planned to do with your yacht is a very important thing to know before you decide to buy your yacht. Do you have plans to go for long-haul trips to far off unexplored destinations of the world or just wish to wander around locally? Understand, for long trips to parts of unexplored seas, you will require a bigger vessel. They might look very difficult to manage but then when you go for long-distance sailing you will be safer and more comfortable in them. Moreover, engines of bigger vessels are robust, hence the sailing will be smoother, faster and more convenient.
However, if your plans are occasional trips to nearby places and not to tougher uncharted seas, then buy something smaller and simpler that will be easier for you to manage and also give you better mileage. Buy something that allows you comfortable sailing, but not something that has no use for your purpose. Smaller boats are the best options for short occasional trips.
4. Necessary Features, Equipment, and Tools
A yacht or any sea vessel needs to have navigation equipment on board. Some of the basic requirements are GPS, a chart-plotter, and a depth-sounder. However, these are just the most essential one and don’t be surprised if the list gets longer to make your vessels safe and comfortable for sailing. So, to make your purchase easier, it would be better if you buy a yacht with all these features and equipment pre-fitted in it.
Moreover, if you have plans for long-distance sailing that may take days and weeks, you will need every other feature to make your daily necessities available all the time while you are onboard. Features like a cabin where you can relax or spend your night time, a kitchen where food can be prepared, a dining space which you will need during meal times, a toilet that is a must even if you are buying a small vessel, a storage option for your luggage and also all other safety equipment just in case you need them. Additionally, an autopilot feature is another most important feature, if you have plans to sail without a crew or pilot who can ride your vessel.
5. Attend Boat Shows
If you have plans to buy a yacht then make it a point to attend as many boats show possible for you before you make your decision. Boat shows give you an idea of different types of vessels, their makes, features, equipment, cost, etc. You will get to see a wide selection of boats, yachts and superyachts and all in one place. Yacht manufacturers, dealers, brokers will be more than happy to take you on a yacht tour. You will have opportunities to see, check, examine and understand what exactly would be the right yacht for you. You have ample opportunities to talk to sellers, brokers, manufacturers and even buyers. They can assist you in finding the right yacht for you.
6. Consider a Professional Reviewer
You may or may not possess a yacht, but it is not necessary for you to know everything about a yacht unless you are a professional or a seasoned sailor. It is the same in every industry. When you go to purchase something, it is always right to talk to the right people in the industry to understand your requirements better. Make sure you talk to professionals to find out the yacht that will meet all your expectations. Consider someone who has experience in sailing or somebody passionate about the makings of sea vessels who has hands-on experience in the shipping industry. Tell them your expectations and the purpose for which you want to buy a yacht and they will help you find the right yacht for you.
7. Find the Right Broker
When you go for yacht buying then one of the most essential factors is finding the right broker through whom you would make your purchase. You will find several brokerage firms offering yachts for sale, but whom to trust you may not know. Taking reviews about the brokers might be of great help. Moreover, a quality broker will handle everything with care right from welcoming you on the very first day until handing over the bills for the final payment. They will also guide you to buy the right yacht keeping everything into consideration.
Royal Yachts is one of the leading names in the sphere of yacht brokerage. We have been serving our clients from across the globe since last more than a decade now. Our fleet includes both locally and internationally built vessels. Our collection is wide enough to fit into any pocket size. So, whether you are a first-time buyer looking for a small and simple boat or somebody with extensive sailing experience looking for extravagantly built superyachts, we have every option for our esteemed customers.
If you want to shop for yachts then check our yachts for sale section to find out the yacht of your dreams.