Tired of renting out yachts for your sporting, party and other activities? Thinking about getting a yacht for you? Well, here are some of the factors you need to consider before buying a yacht. It’s obvious that buying and maintaining one can be very costly so it is better to know what you are getting yourself into before going ahead with the purchase.
1. Initial cost
Yachts can be very expensive. If you don’t have the money, well then you have no yacht either. You could get apply for boat loans if you really are passionate about owning one, however make sure you have a stable way of paying it off. What most people overlook when purchasing is the value after a several years when you need to sell it off. Well the depreciate rate of yachts is not that bad but having low sales value in years to come is an emerging problem. If you ultimately sell it off for a lesser value and not be able to pay the loan taken, you are done for. So always think twice before taking any step.
2. Quality Vs Quantity
We are living in a period where quantity is much more looked for than quality. Especially the ones purchasing for the first time since they try to get the biggest vessel for the lowest price. You should always keep in mind that these yachts will be in harsh marine environments with corrosive water, snow and ice, direct sunlight, rain and also raging conditions of waters. Hence if you need to get a yacht worth your money, look into quality more than quantity and size since after some years when the design goes outdated, its long-lasting quality is what will remain.
3. New Vs Used
Experienced boaters would rather choose used yachts over new ones since they know that used ones still in good condition will remain the same for the years to come. With new yachts you can never guarantee how long it will remain as good as new. Also, used boats take up less annual costs since depreciation slows down with time. Buying a used yacht may also release you from the burden of finding boat finance in Sunshine Coast since of course it is no small investment.
4. Gas Vs Diesel
If you are planning to make use of your yacht for a long time, then gas engines would be ideal since these are easier to repair and maintain after a certain years. Diesel may be cheaper than diesel; however the repair costs would take up even double of what you spent on gas the entire time you owned the yacht. Also keep in mind that the average time between major repairs is six to seven years so do get your yacht back in shape in due time to avoid any hassle.