Buying your first yacht can be a daunting process, especially when you consider the money you’re about to invest. Like any major purchase, there are several factors that you need to consider before committing. This article is meant to help simplify that process and to help you narrow down your choices Here are some things that you need to consider when buy a yacht:
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Budget
Your financial capacity is largely going to determine which yacht you purchase. However, unlike other major purchases like buying a car or a house, the value of the yacht you plan to buy should always be lower than the amount you’re actually willing to spend. This is because there are other associated costs besides the purchase itself. It’s important to account for additional expenses such as electronics, safety equipment, replacement parts, insurance, and deck gear so you don’t come up short on your purchase, or end up spending a significant amount of money on a fixer-upper you can’t use. It’s also important to account for recurring maintenance costs.
Usage
Your intended usage will help you determine the exact type of yacht you need. Not all yachts are meant for lounging. In fact, there’s a whole spectrum of yacht types, from functionality-centric fishing yachts to luxurious super yachts. Are you looking for a weekend getaway boat? Do you intend to use your yacht to travel long distances? Your intended purpose will be your primary basis in determining the type of yacht you need. It’s important to determine your frequency of use, as this will dictate what kind of maintenance work you may need to have completed This also directly affects your budget. Yachts that are used frequently are more susceptible to wear and tear than those that are seldomly used.
Feature Set
Once you’ve determined the type of yacht you want, choose which feature sets matter to you most. If you’re getting a yacht for long cruises, you might want to select a yacht with a more powerful engine, or emergency measures such as a solar powered-generator. If you’re looking for a more leisure-oriented yacht, features such as leather upholstery and built-in coolers might serve you well. Ensure that your yacht is capable of mounting and sustaining the features you intend to install. For example, if you plan to install a wakeboarding tower, you might also need to install a much more powerful engine.
Storage
It’s important to account for the instances when you won’t be using your yacht. In previous years, it may have been difficult to find a marina to leave your yacht at, especially when knowing where to dock your superyacht in Seattle is important. These areas are usually subject to availability, and buying a yacht without somewhere to store it could present many unnecessary problems.
A yacht is one of the biggest purchases that you’re bound to make in your life, seeing as they’re expensive to buy and maintain. This is why it’s important that you buy the right yacht the first time around so you can get your money’s worth.
