| Buying a yacht is a big commitment, both financially | | | | On top of the basic price you pay for a new yacht, |
| and in terms of the time it takes to go through the | | | | you will need to set aside another 20% for extras to |
| buying process. We have put together this brief guide | | | | equip it. For a used yacht, you may want to set aside |
| to buying a yacht, to help you through the yacht buying | | | | up to 50% for a refit and equipment. Money will need |
| process. | | | | to be set aside for insurance, mooring and |
| Type of Yacht | | | | maintenance. When you've signed on the dotted line, |
| The yacht buying process starts with considering what | | | | whether you are buying a new or a used yacht |
| type of yacht would be best for you. When thinking | | | | typically you will need to put down a 10% deposit. A |
| about what type of yacht you need, you will need to | | | | new yacht may have stage payments through the |
| consider what you will use the yacht for. As graceful | | | | build process before paying the balance. After a used |
| as a sailing yacht is, a motor yacht tends to suit most | | | | yacht has had a survey and a sea trial is accepted, |
| people's needs - requiring less experience to run, more | | | | the final balance is paid and the customer takes |
| space and wider living area below decks, and the | | | | ownership of the vessel. |
| ability to travel at higher speeds. The size of the yacht | | | | Yacht Survey |
| is an important factor to consider, as this will determine | | | | If you are buying a used yacht, it is imperative you get |
| how many guests you can entertain, and how many | | | | a comprehensive survey done. A surveyor will check |
| of life's essentials you can carry with you. Whether | | | | the yacht all over, advise you of any damage or |
| you choose to go for a new or used yacht will depend | | | | problems, and tell you what work needs to be put right. |
| on how quickly you would like to be out on the water. | | | | Many insurance companies require a survey to have |
| A new yacht can be ordered to your exact | | | | been done before they will cover you. |
| specification, however the flip side of this is that it will | | | | A Helping Hand |
| take time to be built. A used yacht may not be exactly | | | | Unless you've bought a yacht before, it is strongly |
| to your specification, however it will take less time for | | | | advisable to purchase your yacht through a yacht |
| you to be out on the water enjoying it! | | | | broker. A yacht broker will not only advise you on |
| Paying for Your Yacht | | | | what type of yacht would suit you best, but can help |
| Once you've come up with the specification of your | | | | with financing and insurance options, as well as |
| dream yacht, before rushing out and searching for | | | | ensuring the buying process goes as smoothly as |
| ordering it, you need to make sure you can afford it. | | | | possible. |