How to Get Started Buying a Yacht Today

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A yacht is a significant investment. You cannot just walk down to a seller and say, “I’ll have that one.” Well, you could, but it could be a catastrophic mistake. Some yachts will be more ideally suited to your needs as well as budget, than others. Some require a lot more upkeep and a few of them are simply not practical. Before buying a yacht, you need to know precisely what is on the market and what you want from your new boat. Here are a few things to keep an eye out for…

Make a List Before You Visit Any Yachts

Before you buy any yacht, you need to make a list. Write down the budget you have, but also the array of things that you would like your boat to include. It is worthwhile checking out websites to see what features are included in yachts within your price range. You do not have to look locally; you can look internationally here because you will not be buying any of these boats. The idea is just to get a reasonable (and realistic) idea of what you can expect to get for your buck.

Check Your Options

The next thing to do is find a place which sells yachts. If you are living on an island nation, or by the coast, you will have more luck than if you live in the middle of a country with no access to water. Having found a seller, you can start examining their yachts. Try and narrow down those yachts which are available in your price range, with some of the features on your list. You will find that some of the things you want are not going to happen within your price range, so it is a good idea to start cutting those options from your list first.

Test Driving Your Yacht

You should do some research on the yacht dealer or broker who is selling the yacht. Try and work out if they have a good reputation, and what they will allow you to do in terms of homework. You should be able to test the yacht you wish to buy on a sea trial or be allowed to charter it first. Of course, if you are the one who is planning on doing the sailing, then you will need to have passed a boating/yachting safety course, too, and you don’t want to have your yacht stuck on dry land for the foreseeable future.

It can sometimes be worth haggling, as some dealers and brokers are prepared to part with a yacht for less. However, this is not a jumble sale, so do not expect the price to drop too much.

The Final Steps

Before closing the deal to buy a boat, you will need to ensure that you have a berth for your yacht. This you can obtain via your local port authorities. After purchasing a berth, the next step is to buy your yacht, then fill out the necessary yacht registration forms. Once complete, you will at least have somewhere to moor your brand-new boat, before taking the next steps to set sail.

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