Buying a luxury yacht is not a decision to be taken lightly. However, it’s an exciting decision, and knowing exactly how to choose and buy the perfect yacht for you is essential to making it an enjoyable experience. Below, we look at the steps and considerations you need to take into account when buying a yacht that perfectly matches your needs.
Find out why you want a yacht
Chances are, if you’re considering buying a yacht, you’ve chartered one before and fallen in love with the lifestyle and opportunities it offers. If you’ve never chartered a yacht before, a trusted broker will advise you that this is the very first step you should take before embarking on the purchase. Before you commit to buying, make sure the cruise really suits you!
Once you’ve decided to buy your own yacht, it’s time to sit down with your broker and have an in-depth discussion. Together, you’ll need to determine why you want the yacht, where you plan to sail with it and who will accompany you on board. Let your broker take the time to get to know you, to understand your tastes, your lifestyle, your likes and dislikes, the type of cuisine you prefer, and your budget. All this information will help them to create a selection of yachts that meet all your criteria, and finally choose the perfect one.
Choose the Yacht Type That’s Right for You
Your lifestyle will dictate the type of yacht that suits you best. And while this may seem like an obvious choice, let’s take a closer look. If you want a yacht suitable for a family with children, safety should be as much a consideration as water toys and a pool, while a yacht intended for late-night parties might require a Jacuzzi, dance floor, bar area or even a helipad. Every detail needs to be considered, from on-board accessibility and culinary preferences, to leisure and fitness facilities.
Make the most of your investment
A brand-new custom yacht will be the most expensive way to buy, but it allows you to choose exactly what you want, from the shape of the hull to the interior decoration. Bear in mind that there is often a waiting period of several years for a custom yacht. A semi-custom yacht gives you the freedom to make several major decisions based on a standard hull design, saving you around 30% compared to the price of a custom yacht. To make the most of your money and become an owner immediately, a pre-owned yacht offers enormous advantages. Although surveys are necessary, and you should consider possibly higher maintenance costs, you can carry out a sea trial, really get to grips with the boat and start sailing in just a few weeks.
Calculate Annual Costs
The main expense will probably be the cost of the yacht itself, but don’t underestimate the ongoing running costs. The larger the yacht, the more staff it requires, which is your second biggest expense. Next come management company fees, mooring costs, maintenance, insurance, fuel and provisions. Chartering your yacht is an effective way of offsetting many of these costs, with some yachts already on the market with established charter bookings.
For larger yachts, a management company is an invaluable tool. Despite the additional costs, consider that they will organize the crew and their pay, ensure that maintenance schedules are met, monitor safety compliance for all equipment, provide crew training, offer technical support and provide you with monthly expense reports. All these services allow you to enjoy your yacht without it becoming a burden.
As a rough guide, a yacht depreciates by around 10% a year, so even with a good charter program, buying a yacht should not be considered a lucrative venture. A good broker will provide you with realistic estimates of operating costs, rather than downplaying the realities of yacht ownership. If you doubt that maintaining a yacht of a certain size will be manageable, it makes sense to consider a smaller or more economical option. Fortunately, the market is increasingly offering energy-efficient and hybrid yachts, which considerably reduce operating costs.
ATI YACHTS has a team of highly experienced brokers who are committed to finding the perfect yacht for you. Don’t hesitate to contact us today and let’s embark on this exciting adventure together.
