Buying a yacht is a big step and whilst the financial outlay has the potential to be much greater than that of a car the process is fundamentally the same.The initial stages are of course helped enormously by the fact that you can view new luxury yachts and second hand boats very easily online to help you make a decision on what is best for you and to really help you narrow down your search using the parameters you can set yourself.
Buying a new yacht will allow you to add your own personal touches and really get the luxury you’ve dreamed of and you’ll even be able to choose your own name to adorn the side. Buying a yacht that is brand spanking new will of course come with a higher price tag and if your budget isn’t quite up to paying for a brand spanking luxury yacht the second hand market is also full of promise and you can still own the boat that you really want.
Second hand yachts can be a great buy and there are plenty out there at excellent prices. Always be sure that you give the boat a thorough check though before you make any commitment to a sale and always be sure of exactly what you are getting for the price you are paying. Boat brokerage companies are always willing to help you out with this – for a fee of course – but in this market the professionals can be very helpful at finding the right deal for you and saving you a lot of time and effort. Always remember that you are under no pressure to buy and have no commitment to make a purchase unless everything is right for you. It’s your money and your choice!
Increasingly it is a good idea to check if your potential new buy has been stolen – better to be safe than sorry – and there is an online database that lists all stolen boats and marine equipment which can assist you with this and its backed up by national police records so it’s always up to date and accurate. If in doubt walk away from a deal.
It’s also important not to be short sighted. Think about the ongoing costs of owning a yacht. The mooring, parts and maintenance costs can run into the thousands even if you never leave the docks! Destinations such as Gibraltar can offer surprisingly good value thanks to the absense of VAT and any boat taxes so think carefully where to base your yacht.
So, in conclusion, always try and match your expectations to your budget. That’s not to say that you shouldn’t always be on the lookout for a great bargain but if you’re comfortable financially with your purchase it will always help you appreciate and enjoy your new yacht that much more.