First-time yacht buyers

If you are a first time used cruise customer, the used yacht options available for sale are often too much to handle. How do you understand each of the versions and varieties that exist?

The new customer of a second hand yacht should refrain from choosing their feelings, relax and critically analyze what they plan to do while using the jet ski. Making the wrong selection will undoubtedly be a great disappointment in the long run and will most likely affect you financially. For starters, are you currently a sailor or motor cruiser?

Many like the appeal of a sailboat with the image of exotic island destinations in the snapshot; however, many do not want the need for sails, rigging, etc. However, a sailboat is quite cheap to operate if your strategies consist of planning a trip to distant destinations. In addition, motor sailing will not be expensive if you choose the right boat.

Powerboats commonly come appropriately designed with all the little luxuries you could possibly need; often much more than all but the largest sailboats. And you don’t need to learn all the navigation skills as well. Once you have considered your personal cruise preferences, you can generally determine what you plan to do with it.

Do you intend to sail, sail or fish from there? It goes without saying that you can actually fish from just about anything if you want, but used yachts suitable for deep sea fishing are generally different than those built for cruise ships. How many times will you use your new used boat? I often say that “boaters” and “boat owners” can be found. Boaters use their boats; Yacht owners like to tell you that they own a boat, as their yachts rarely leave the dock. Some boaters can live full time on board making use of their boats as their family home every day. Other people can use their boats on a good vacation when the weather permits.

Next is the cost of owning a yacht. You will need to take this into account. The purchase price is very similar to the initial payment. The cruise ship has its own rates that you should be aware of. If you are mechanically prepared, you will find that the expenses are generally not very high.

Most boat operators do the vast majority of the work themselves. I have a blog post on my Cruising Center website regarding the details of the boating expenses that breaks them down into each charge. Feel free to take a look.

So at this point we have figured out what version of boater we are, so we understand what variety of boat we are generally interested in, we realize how much we expect to use it and what to expect in maintaining it. So far so good!

Now comes the hard part; How to decide which one is the right one? I have put together a buyer’s checklist that I use with my clients to enable them to indicate the essential popular characteristics of a yacht. This allows them to select features that they can live without and those that are features that they cannot live without. That checklist will then become the framework for the best yacht research. When I work together with buyers, I try to find the used boats that best meet the client’s wishes, knowing that boat purchases sometimes incorporate some compromise. I hardly ever find a container with all the desired characteristics. In the search phase, I always point out that you will notice when the right ship is deployed; it will certainly “speak” to you personally. Any potential boat will have the lines, feel and features that suit you best. Never settle for less than what you like.

But what about the expense of that ship? Exactly how are you sure you are getting a fair package? Borrowing from another post in the Cruising Center regarding the true value of boats, good boats always get higher sales prices – always! A newer boat in bad condition will deliver much less than an old boat in perfect condition always! Under no circumstances will you buy a yacht determined only by the price tag or will you advertise it for sale within 6 months.

And you should do a marine survey, yes, it is usually suggested. Choose an experienced surveyor who has experience with your preferred boat. Also ask for individual references.

If you are using a reliable buyer broker like me, I will come up with a number of top-notch surveyors, but insist that you select the one you want. And lastly, using a Buyer’s Broker to handle your search, choice and purchase case will save you a lot of time, money and a lot of disappointment. The writer, Mike Dickens, is an experienced life-aboard boat owner and yacht broker.