Cruising in Style: Crafty Tips on Buying Your First Yacht

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Sailing can be the ultimate vacation you never had. Indeed, when you talk about stress relief there may never be a better way to do it than to sail off to distant waters. The sound of the ocean, all the dolphins, and the waves rushing calms you like no other. Top all that with the wind in your face. It would seem like throwing all those ropes off your boat, you also throw all your cares and sorrows. And everyone would agree, you don’t have to be a billionaire sailor such as Larry Ellison to know sailing is one great adventure.

And there’s no shortage of destinations that you can go to with a yacht. You can go to such in-demand places as Sardinia and Corsica (Napoleon Bonaparte’s birthplace). The only question now is whether you ride or you drive your own yacht. If you have the money to burn, here are timely tips to get you the yacht of your dreams. To send you to the most elite places in the world you can find.

Think Purpose

Purpose can really put everything in perspective. Whether it’s a brand new Ducati bike or a yacht, what you intend to do with it should be clear on your mind. Take note that buying your first yacht should not be taken lightly. Right from the get-go, it’s wise you lay everything down in writing and draw-up your intended budget. Why? Simply because the cost of owning and maintaining one can go sky-high.

For one, what you plan to do with it should determine the size of the boat. If you want to take the whole family, including your dog and cat, then you might choose to get a more spacious one. It would be wise that you consider what are the things you want to bring along to be with you on your sea-bound journey.

Then there is the case for the amenities. Would you like a bathroom and a kitchen to go with the yacht? Choosing these can add up to the total real estate space.

In hindsight, you will not need a big boat if you plan to only sail from port to port nearby. While a smaller boat may not seem luxurious enough, it’s maneuverability is tops. You can easily slip it through any marina without a hitch.

If you’ve been honest to yourself about your purpose, then choosing which type of yacht you need wouldn’t be such a tall order. Take note that there are as many different designs of yachts as there are activities people pursue in the open sea. Basically, however, there are 3 main types. These are:

  • Cruising boats
  • Fishing boats
  • Watersport boats

Watersport boats are meant to support such activities as wakeboarding. From the looks of it, the purpose will define your boat choice.

On the other end of the spectrum, you might want to consider renting a boat if you’re not really sure of your purpose in sailing. The experience out to sea on various yacht types should help you decide. ;

Renting has its distinct advantage as you won’t have to shell out so much to enjoy the waters. Plus, you won’t need to budget maintenance.

big yacht

Think Long Term

Even if you have the budget to buy a new yacht, know there are other considerations in getting one. For one, you’d have to contend with a host of additional fees, namely mooring fees, insurance, etc. Plus, you’ll have to find a good place for your yacht. It’s good you take these things as part of the bigger picture before you go down to a buyer.

Usually, the first boat is just for the experience. So buying a brand new yacht may not be such a wise idea. On the other hand, if you’re tight on the budget, looking at taking out loans could be best for you.

Read the Fine Print

This is a business transaction. So treat it as one. You would not want to buy a house if you have not seen and inspected it firsthand right? The same holds true for your chosen yacht. Survey it. If you are not that confident you can do a professional survey, bring an expert. That way you won’t have to deal with insurance issues.

Know that a survey serves you well too. It shows possible issues of the yacht at hand allowing you to negotiate and lower the selling price.

Then, make sure things are in order. Check the boat’s documents and its VAT details. When the sale is made, you should get an original invoice that’s VAT-paid. If the seller insists no invoice is necessary, don’t proceed. Without a VAT-paid invoice, selling the yacht years after may become an uphill climb. If things go ugly, get the services of a yacht broker.

And yes, you should ensure you have your proof of ownership given you along with pertinent documents (e.g., Bills of Sale, Certificate of Registry). It may sound a lot but it’s no sweat when you think of all the adventure that awaits you out in the open sea. Have faith, will sail in style.

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