How to Buy a Yacht

April 7, 2013 | Author: | Posted in Cruise and Ferry

A yacht is the ultimate rich boys’ (or girls’) toy. When you want to impress, you invite someone to stay on your yacht.

How to Buy a Yacht
How to Buy a Yachtmarcp_dmoz / Foter.com / CC BY-NC-SA

Whether you decide to have your own boat designed especially for you or to save a bit of money and buy a pre-owned one, there are a few things you must observe when you’re buying a boat.

Know What You Want

Knowing what you want from your boat will help you whittle down which boat will be best for you. The ideal starter boat is one that is small, so you can sail her yourself and a coastal cruiser- you don’t want to spend more money than you have to on a boat that is more capable than you need. A bigger boat may also need a crew to help you sail her, so buy small to start with and you won’t have to schedule dates when everyone is free to take her out.

Know Your Budget

Your budget for your boat must include running, instrumentation and maintenance costs, as well as any other extras you might want to put in too. Safety gear can also be a hefty expense if you haven’t accumulated any of your own already.  You will also have to buy boat insurance. You can find good deals, but you may have to shop around to get the best deal. Some policies offer discounts for certain marinas, such as the boat insurance from Towergate. Therefore you must make sure that when you look at the salesman’s price that you calculate how much you’ll have to spend to get her seaworthy.

Do Your Research

If you plan on customising or designing your own boat, or purchasing a restoration project, then you must make sure that you do your research properly. For instance, a faster boat won’t be as big, and will burn a lot more fuel. A restoration project will seem like a bargain now, but will mean that you have to spend a lot of time and money restoring it to its former glory, and may be a far longer process than you might have hoped for. Usually with very old boats, you will fix one problem only for another to crop up not long after.

Take Her for a Test Drive

After finding a boat you want to purchase, and having negotiated on the price, do take her out for a test drive. It will probably be at your expense, but without doing this you won’t know what she’s like before you buy it. You need to know that you are comfortable sailing her.

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