Home » Recreation and Sports

Brief Guide To Buying A Yacht

Oct 15, 2007
Buying a yacht is a big commitment, both financially and in terms of the time it takes to go through the buying process. We have put together this brief guide to buying a yacht, to help you through the yacht buying process.

Type of Yacht

The yacht buying process starts with considering what type of yacht would be best for you. When thinking about what type of yacht you need, you will need to consider what you will use the yacht for. As graceful as a sailing yacht is, a motor yacht tends to suit most people's needs - requiring less experience to run, more space and wider living area below decks, and the ability to travel at higher speeds. The size of the yacht is an important factor to consider, as this will determine how many guests you can entertain, and how many of life's essentials you can carry with you. Whether you choose to go for a new or used yacht will depend on how quickly you would like to be out on the water. A new yacht can be ordered to your exact specification, however the flip side of this is that it will take time to be built. A used yacht may not be exactly to your specification, however it will take less time for you to be out on the water enjoying it!

Paying for Your Yacht

Once you've come up with the specification of your dream yacht, before rushing out and searching for/ordering it, you need to make sure you can afford it. On top of the basic price you pay for a new yacht, you will need to set aside another 20% for extras to equip it. For a used yacht, you may want to set aside up to 50% for a refit and equipment. Money will need to be set aside for insurance, mooring and maintenance. When you've signed on the dotted line, whether you are buying a new or a used yacht typically you will need to put down a 10% deposit. A new yacht may have stage payments through the build process before paying the balance. After a used yacht has had a survey and a sea trial is accepted, the final balance is paid and the customer takes ownership of the vessel.

Yacht Survey

If you are buying a used yacht, it is imperative you get a comprehensive survey done. A surveyor will check the yacht all over, advise you of any damage or problems, and tell you what work needs to be put right. Many insurance companies require a survey to have been done before they will cover you.

A Helping Hand

Unless you've bought a yacht before, it is strongly advisable to purchase your yacht through a yacht broker. A yacht broker will not only advise you on what type of yacht would suit you best, but can help with financing and insurance options, as well as ensuring the buying process goes as smoothly as possible.
About the Author
Further information about buying a yacht please visit the website of Inwards Marine yacht brokers: http://www.inwardsmarine.com
Rating:
Please Rate:
(Average: Not rated)
Views: 617
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Accounting
    • Credit
    • Currency Trading
    • Debt Consolidation
    • Insurance
    • Investing
    • Leasing
    • Loans
    • Mortgage
    • Mutual Funds
    • Personal Finance
    • Stock Market
    • Structured Settlements
    • Taxes
    • Wealth Building
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources