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Factors To Consider When Buying A Yacht After Chartering

By Emilie Barland | Posted On Sep 13, 2017
Updated On Feb 25, 2019

A yacht charter vacation is an unforgettable experience. Few things compare to experiencing the sunset on the ocean or feeling the soft waves underneath you as you enjoy an evening cocktail, it’s a dream vacation, especially if you get the type of yacht that leaves you wanting nothing. Chartering a yacht by yourself or with a crew can be the vacation of a lifetime that only a small percentage of the people in the world get to enjoy.

Not surprisingly, then, chartering a yacht can act as a gateway to actually purchasing your own boat or yacht. Yachting is addictive, leaving you yearning for a return to the sea and the seemingly endless freedom it brings. There are very few feelings in the world that can equal being at peace on your own vessel.

If you’re ready to turn your one-time dream into an everyday reality then the next step is consulting a professional yacht broker. Of course, as you can probably imagine, that transition is not as easy as you might think at first. Going from a yacht charter to considering yachts for sale comes with a number of important factors to keep in mind.

1) Get Your Yachting License

First, a note of caution: transitioning from charter to owning a yacht is not as simple as browsing and selecting yachts for sale. Some states require a license regardless of what type of boat you plan to operate and where.

Once you go offshore, the restrictions tighten. Inform yourself about exactly what license you need to operate your dream yacht before even considering the purchase. Of course if you have hired a professional boat captain to drive your yacht, then this may not be a step that is needed.

2) Understand the Need for Maintenance

Yachting is a beautiful life, but it can also be work. Once you buy a boat, you become responsible for all of the maintenance that comes with it. Whether you pay someone to complete that regular maintenance or do it yourself, the need will remain and is absolutely crucial.

Boat maintenance is similar to car maintenance in that you have to regularly check the engine and change the oil. But it also requires regular cleanings, especially to the exterior that is constantly exposed to water. It makes sense to inform yourself about these types of maintenance needs before making a purchase.

3) Find Comparables that Match Your Budget

Another factor to consider is the type of yacht you can actually afford when owning vs. chartering. In the course of your vacation, you may have become spoiled by a luxury model that included a full crew and plenty of additional amenities. At the same time, that same type of ship may not be affordable for your budget.

Thus, it makes sense to look for comparable to the type of yacht you’re looking for as you begin to browse. This step helps you set realistic expectations, and makes sure that once you complete the purchase, you will be as happy as you were when you first saw that ocean sunset.

4) Choose Your Location Wisely

Finally, it’s important to take the location of the yacht you’re about to buy into consideration. Yachts can be transported, but that costs extra money and significant planning. The easier step is to find a boat in the general location you want to operate it in.

Again, this might be an adjustment for anyone only used to chartering. At the same time, it makes sense to consider now, before buying your dream yacht and realizing that it’s not actually in a spot that’s helpful to you.

5) Buy Only From a Credible Broker

Finally, you have to make sure that any yacht you purchase actually holds its promise. An online listing can promise much, but even an in-person visit is not reliable if you don’t know what to look for as a first-time buyer.

Instead, it makes sense to work directly with an independent expert. That expert can help you understand not just your needs, but how far your budget reaches – and what types of yachts for sale you can afford. To learn more about working with us, and making the transition from charter to owner, contact us.

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