Buying a yacht Is not a decision to be taken lightly, as there are many things to consider not the least of which is the financial Impact this new purchase will have. Actually, lets more an Investment than a purchase: besides the cost of the actual boat, there are fees involved in owning and operating a yacht, so It would be wise to draw up an annual budget upfront. This budget will give you a better idea of the type of boat you should be buying. Narrowing down your options takes some research, therefore you might browse the Internet to see different sized boats and decide which one you‘d feel more comfortable manning. You need to consider a few basic tips for making sure you end up with the right yacht for you. You will need to find a place to keep your yacht so you should know that some marinas may not have available berths and mooring fees vary considerably. Maintenance costs for new yachts are relatively low during the first three years but as a general rule, major machinery will require significant repair or replacement within 5 to 7 years. So before anything. Include these costs In your budget to prevent your Investment from becoming a money hole. Technology & equipment options. With these options including bow thrusters, stern thrusters, electric winches, in-mast reefing, self-tacking jibs and advanced navigation technology all commonplace. A larger modern yacht today is far easier to manage than it was 10 years ago. Equipment, there are an incredible amount of equipment options to choose from, some of which are there to help short-handed sailing become more manageable or that make a larger yacht easier to handle. Other options are there simply to reflect modern living and how we live at home.

From a yacht owner’s perspective, chartering is the chance to turn an investment in leisure into an opportunity to generate revenue; often useful to help cover the running costs of your luxury yacht. Placing your boat into charter service can substantially reduce the cost of ownership, while also enhancing its resale value by establishing a favorable reputation in the global charter marketplace. With a well-managed charter programme, it is possible to generate a very healthy income. It helps your crew stay busy and motivated, improving their skills. It ensures your yacht is kept in good working order. It raises the profile of your yacht in the superyacht world, which may have a positive impact on the resale value.

ls highly recommended that you conduct a professional survey on the yacht! This will be useful with insurance companies. A survey will show potential maintenance issues and can also help you to negotiate better the price. Additionally, it’s recommended to draw up a standard form of agreement that sets the rights and obligations of both parties and the broker is acting on their behalf. The contract will help solve any potential disagreements. Check all the documents and the yachts VAT status. You should receive the original VAT paid invoice, which is essential if you want to sell the yacht in the future. If you’re uncertain about the VAT status or any other documentation, a professional yacht broker can advise you on what is required for any particular vessel. Once the survey has been concluded and the negotiations ended, you should receive the proof of ownership: Certificate of Registry, and proof of VAT status. Keep all these documents in a safe place since they are not easy replacing.