The two most widely-used sayings about boats are that they are “holes in the water, into which you throw money” and “the happiest day of a boat owner’s life is the day they buy the boat and the day they sell it.” Although many people believe these axioms are true, they don’t necessarily have to be if you approach boat ownership with an understanding of what is involved.
Look Before You Leap
Many people are unhappy boat owners because they buy the wrong boat. Before you dive head first into the world of boat ownership, ask yourself a few questions that will help you focus on the kind of boat you will need.
1. Sail or Power? Sailing take a very special person, someone who enjoys laid back cruising and the dynamics of sailing. Most people prefer a motor yacht.
2. How Big a Vessel Should I Buy? This depends on what you want to do- cruise the world, week long cruises in the Caribbean, day trips with family and friends or just cruising the intercostal. When and how often will the boat be used? Do you boat year round or only seasonal?
3. How Much Can I Afford? In addition to the purchase price, interest and depreciation there are many other costs. Maintenance, insurance, registration fees, dockage fees and with a large yacht you have crew fees to consider. Do not try to get the largest yacht that you can afford. It is better to take a step down in size and a step up in quality.
4. New or Used? Most first time buyers purchase new boats, while experienced boaters more often buy used. Used boats have already take the big hit on depreciation (approximately 20% when the boat leaves the dock.)
5. How Do I Find My Dream Yacht? A licensed and bonded yacht salesman with years of experience can help you find the perfect match. Always get a survey on a new or used yacht. A marine surveyor often finds as many defects in a new vessel as a used one.
Atlantic Yacht and Ship, Inc. is your one stop resource for the highest quality service and sales in the yachting industry today. The dynamics in purchasing a vessel are complex and time consuming, but at Atlantic Yacht and Ship, Inc. our team of professionals are prepared to handle the entire process and create a positive, stress-free experience for our clients. Check our listings to view all of Atlantic Yacht and Ship’s vessels for sale today.