There is something powerful and uber-luxurious about owning a yacht however if you are new to yacht ownership you might be pondering several questions about owning a yacht. Questions pertaining to the cost, the etiquette and the options available to you.

Here are some of the do’s and don'ts of yacht ownership, these are designed to facilitate the process of purchasing a yacht and to help new yacht owners to understand some of the rules associated with owning one.

What Do You Need to Know Before Buying a Yacht?

If you are purchasing a yacht for the first time, familiarising yourself with the various aspects of buying a yacht is vital. For example, do you want to make an outright purchase or would you prefer to choose boat shares? If you are interested in reducing the overall cost of buying a yacht, you could opt for a yacht shares scheme instead. There are a number of factors to consider, here are some essential things to consider when buying a yacht.

Seek Expert Advice

Owning a yacht is a lifestyle choice, it’s a decision you make based on the desire to experience a certain level of opulence. Therefore, if you want true quality and luxury, you need to seek guidance from the experts. Professional yacht sellers who can provide expert knowledge about the type of yacht, the cost and the options that are available to you when purchasing a yacht. For example, you might not be aware that fractional yacht ownership was a viable option for reducing the cost of experiencing the benefits of owning a yacht.

Know Your Requirements

It is useful to know your requirements as it facilitates the process of purchasing your yacht.

How Much are You Willing to Spend?

Purchasing a yacht requires a significant financial outlay therefore, you should be fully aware of how much you are willing to spend before you begin your search. If you are buying a yacht through a shared yacht ownership scheme, you will drastically reduce the amount you spend.

Know Your Options

Understand the options that are available to you such as cost, size, make and model, purchase method and type of boat. These are all options that you will need to carefully consider prior to purchasing your yacht.

For example, do you want to utilise a yacht share network? Or do you plan on becoming a sole owner? If you purchase a yacht through a boat share syndicate, for example, you can reduce the overall cost of owning a yacht. You get to taste the luxurious lifestyle without the astronomical cost associated with purchasing a yacht as a sole owner.

Your Purpose

Why do you want to buy a yacht? Will you be using it for business or pleasure? Or a mixture of both. Knowing your reasons for buying a yacht will help you determine the type of yacht you purchase.

Is Owning a Yacht Worth it?

This is a very valid question, and if you are considering purchasing a yacht and you are questioning whether or not it is worth the investment. Consider this, owning a yacht is about the lifestyle, it is an investment in your wellbeing, a gift to yourself.

A chance to experience opulence at its finest. An opportunity to relax and unwind after months of board meetings and business deals. If you are a young professional and you are buying a yacht for the first time, boat syndication might be a viable option for you.

Here are the top 5 Dos and Don'ts of Yacht Ownership

Do’s of Yacht Ownership

1. Buy from a professional company

Purchasing your brand new yacht from a professional company is the safest way to buy a yacht. Purchasing from individual sellers online might be risky and you might not get what you pay for.

2. Test Different Boats

Buying a boat is like buying a luxury house, you need to get a feel for the boat. You need to immerse yourself in the ambience of the yacht, this will facilitate the decision-making process. After all, you are buying the yacht for the lifestyle, for the luxury and for the quality and opulence associated with owning a yacht.

If you opt for yacht syndication, you will get the opportunity to spend six weeks out of the year on your luxury yacht therefore, you should ensure that you make the right decision and pick the boat that resonates with you.

3. Consider the Costs of Sole Ownership

Buying a yacht as a sole owner requires a significant financial outlay. When buying your boat, you should consider the costs associated with sole ownership. Such as maintenance and insurance costs. You could save money and experience the yacht owner lifestyle by choosing fractional boat ownership instead.

4. Consider where to dock your boat

Where will you dock your boat? There are various well-known, high-society places to dock your yacht. You should research this or ask your expert yacht seller for advice about this.

5. Investigate

Investigate the boat you are about to purchase. Find out if it has a negative history and check if it has previous owners. When purchasing from a reputable company, this process will be much easier. Also, if you are buying through a fractional superyacht ownership scheme, the process will be hassle-free and more cost-effective than sole-ownership.

Don’ts of Yacht Ownership

1.Don’t Ignore the Terms and Conditions

Thoroughly check the terms and conditions for your yacht purchase before you sign on the dotted line. For example, if you are interested in yacht co-ownership, check the terms and conditions associated with fractional ownership. Often the terms are pretty straightforward and if you were to purchase your boat through a fractional ownership plan, you would typically own ⅛ of the entire yacht. This will allow you to own the lifestyle and share the cost, instead of purchasing outright.

2.Don’t Buy from an Individual Seller Online

You might be tempted to purchase a yacht from an individual seller online however, this is not advisable. Especially if you are unaware of the background and reputation of the seller. Always buy from a professional and reputable company.

3.Don’t Stretch Yourself Financially

If you have disposable income that you would like to spend on a yacht, purchase within your budget and avoid overstretching your finances. You can reduce the overall cost of buying a yacht by opting for a yacht timeshare instead of buying one outright.

4.Don’t Buy the First Boat You See

Get a feel for the type of yacht you want, decide on the make and model by taking a tour of the boat and experiencing the lifestyle firsthand. Don’t buy the first boat you see, allow the experts at the showroom to provide you with in-depth information about the boats that interest you.

5. Don’t Ignore Yacht etiquette

If you purchase your yacht through a yacht share network, be aware of yacht etiquette. The yacht is yours but you share the boat with other shareholders. Therefore, observing yacht etiquette will benefit everybody.

Here are some yacht etiquette rules to adhere to:

Respect the crew
Go barefoot or wear soft sole shoes that won’t scratch the floor
Listen and adhere to safety guidelines
Respect the luxury fittings
Respect the boat in general
Adhere to rules regarding the maximum number of guests

Owning a yacht will offer you a feeling of luxurious freedom, assimilate the scenery and enjoy the opulent lifestyle that is synonymous with owning a luxury motor yacht. It is a significant and worthwhile decision, considered as an investment in your happiness and wellbeing.

Buying a yacht doesn’t have to be a difficult experience, utilize some or all of the information outlined above to ease the process. Yacht ownership is a statement of pure decadence and exclusivity, you can experience a slice of that luxury by taking advantage of fractional yacht ownership plans. With these, you can experience the lifestyle without the hassles and costs that are often associated with sole ownership.

The Top 5 Do’s and Don'ts of Yacht Ownership