If you’re an experienced sailor and ready to take the leap into boat ownership, then you’ll find your true sea legs when it comes to owning your own boat. Unlike renting or chartering a yacht, you can use your own boat anytime, anywhere, with the freedom to explore any stretch of ocean you choose. However, yachts don’t come cheap so you need to be sure you’re making the right investment. Read on to find out how.
What Type of Boat
The type of boat you decide on will very much depend on what you plan to do with it, how many people will be using it, and your own budget. So always have a good think about how you want to use your boat before taking the plunge. There’s no point in spending £60,000 on a boat you’ll only be using for fishing once or twice a year.
Age of Boat
You can pick up a very basic used yacht for around £10,000, but anything decent normally starts at around £40,000. While a lot also depends on other factors, such as style, size and condition, the age of the boat is a significant factor – boats are subject to a lot of wear and tear and so the older the boat the cheaper it’s likely to be. Most seasoned boaters generally buy used boats, as they generally know what they want and will get more bang for their buck. The important thing is to identify anything which suggests the boat has a major problem.
Appointing a Marine Surveyor
Anyone purchasing a boat should appoint a marine surveyor to assess the safety and condition of the boat. A professional marine surveyor can make an inspection on a boat to assess any damage and give an estimated cost of repair, help you establish how much the boat is worth, and generally make sure you’re buying a sound vessel.
Buying A Boat from A Broker
There are big advantages to buying a used boat from a broker. Not only do they understand the market and true cost of boat types, they can find the boat that is right for you. They also act as an intermediary between buyer and seller, and if you use a quality boat broker such as http://www.ancasta.com/ then you’ll also benefit from a host of other services and advice, such as moorings and marine surveyors. If you’re not familiar with the marine industry and boat buying, then using a broker is a safe and useful way to buy. Even better, it’s the seller who pays the commission to the broker, so you benefit for free.
Other Costs
When buying a boat, it’s essential to factor in all the other costs that contribute to boat ownership. Mooring fees and wintering, insurance and maintenance are the three biggest, but smaller costs such as fuel also add up. Be sure to factor in these costs to your decision, or you’ll be the proud owner of a very expensive white elephant!
Wendy Lin is a successful entrepreneur and freelance writer. She enjoys guest blogging and painting watercolour.
