There are a lot of things to consider when buying your first yacht and it is going to be a daunting process. Aside from the fact that it’s a major investment, there’s a wide array of choices when comes to the size, style or age of the vessels available.
The best thing to do is to approach the situation analytically and calmly. To make things easier for you, here’s a list of questions you should take into account when choosing what yacht to purchase.
What Kind of Sailing Will You Do?
Before you even begin to look at yachts, make sure you have a clear picture of what kind of sailing you’ll be doing. Is it just for leisure or do you plan on joining races? Knowing what you’ll use your boat for will narrow down your choices considerably.
Who Are You Sailing With?
The people you plan on sailing with will also determine what kind of boat you should get. After all, it’s different if you’re sailing with other competent sailors than with inexperienced passengers. Having a good idea on who you’ll be taking on your vessel will help you consider what key features your first yacht should have.
Do You Have Any Experience?
Your choice of the boat will also depend on your own sailing experience. Some first-time boat owners have been around the vessels their whole lives while others have only experienced spending a few weekends at sea. It’s a good idea to get some experience sailing on different types of boats first so you’ll know what will suit you best.
What Size Do You Want?
Size actually matters when it comes to yachts. Bigger boats have more features while small boats have the bare minimum. A big boat might look more comfortable, but it also means there are more systems to learn and handle. It also has a larger price tag and is more expensive to maintain. First-time boat owners should opt for a vessel that’s no larger than 22 to 24 feet.
What’s Your Budget?
Buying a yacht is very different from getting a new car. When it comes to the budget, the purchase price of the boat should be lower than the amount you’re willing to pay. This is because you’ll also be shelling out for insurance and mooring fees. You’ll also have to figure out what your annual budget for your first yacht is. Include an allowance for emergencies (ex. replacement of parts, deck gear etc) and mooring fees or marine berth rentals.
Choosing your first yacht is all about compromise. So be flexible and approach the buying process calmly and logically and before you know it, you’re already out at sea.