7 steps to buying the yacht of your dreams

Buying a boat is an exciting process. For experienced sailors, buying a new boat is often a pleasant process, but for beginners, even choosing a yacht can be overwhelming. But it's okay! Interparus has prepared a small seven-point roadmap that will help you get the yacht of your dreams.

Step 1: Decide what you want from the yacht

Before you go to a yacht dealer and spend a large amount of money, you should decide on your preferences regarding your future purchase. Ask yourself the following questions:

• What do you need a boat for?
• How often do you plan to go to sea?
• Will the yacht or catamaran be used for family cruises?
• Do you prefer relaxing cruises or do you want to sail actively?
• Are comfort and convenience more important to you than the performance of a yacht?

By answering these simple questions, you can more or less accurately imagine the image of your future purchase. 

Step 2: Research the Market

Once you have formed a vision for your future yacht, start analyzing the market. Explore thematic sites, read reviews, watch video reviews of boats. 

It is important to sensibly evaluate your expectations from your dream boat. You may have to rethink your idea of the yacht you want and opt for a more practical and less expensive boat.

There are many detailed yacht reviews on our YouTube channel. Recommended viewing:

Step 3: budget for the purchase of a boat

The price of a yacht is influenced by many factors: dimensions, model, manufacturer (shipyard), age, modifications made, sail configuration and much more. If you already have at least a general idea of what you want from a boat, then contact a yacht dealer for advice. Interparus is also ready to provide any assistance in selecting a boat and assessing its cost. 

When purchasing a yacht, it is recommended to take into account the following expense items: cost of the yacht + maintenance + insurance + 30% percent of the sum of the cost of the yacht, maintenance and insurance. The latest 30% is a guarantee that you will not suddenly run out of money to maintain your yacht. Don't forget that in addition to the boat itself, you will have to pay for a place in the marina and pay for fuel.

Which under no circumstances it is forbidden to do when buying a yacht:

• buy a yacht with your last money
• buy a yacht with credit money
• buy a yacht without calculating the total budget 

If you don't have enough money for a boat, it's better to postpone the purchase. The best option is to save up enough money, but buy the yacht of your dreams, rather than make a purchase for the sake of buying.

Step 4: visit the yacht

The most interesting and exciting. Once you've contacted the boat owner, yard, or dealer, it's time to examine the boat yourself. Let us immediately warn you that you should be prepared to be disappointed by what you see. This is especially true for used boats. 

If the yacht generally meets your expectations, take the time to study the technical nuances of the yacht. There may be rusty bolts somewhere, water in the bilge, leaking hatches, visual problems with the engine. Don't be shy to ask questions and point out problem areas on the boat. 

Make a list of problem areas if you find any. If the owner or dealer does not mind, then you can even do a test swim. This will be an excellent option, as you will immediately be able to test the boat in action. We recommend that on such trips you take with you a more experienced yachtsman, who with his trained eye will see what you may not yet notice.

Step 5: negotiations with the seller

The situation is similar to the purchase of real estate. Leave your feelings aside. Cold calculations are at work! By the time of negotiations, you should already have a formed idea of the boat of your dreams, understand how the market works and the condition of the boat. Gather all this knowledge and negotiate the best price and contract terms. 

Again, it is important to understand the boundaries of what is acceptable. If before visiting the yacht you have already received a price list for the boat and it does not indicate that bargaining is appropriate, then you should not try to get a 20% discount. 

Step 6: Pre-sale preparations

The owner or yacht dealer must prepare the boat for delivery. Together with the owner and a hired inspector, once again examine the yacht for problems, make a test sail, evaluate the condition of the hull... The list of necessary checks is quite extensive.

Before the final comprehensive inspection of the boat, it is necessary to allow the hull to dry in a dry dock for about 10-12 days. This will help you get a clearer picture of the yacht's condition and help you avoid any unpleasant surprises.

Remember that most faults or problems with the yacht should be identified before the pre-sale inspection. If any critical flaw is found, you still have time to reconsider the terms of the deal or terminate the contract. Unfortunately, even in this case, you will lose some money: at least payment for the inspector’s services and, in the worst case, funds for terminating the contract.

Step 7: Buying a Yacht

The final stage. Congratulations, you are now a full-fledged yacht owner! The main thing is not to forget to settle all legal formalities. Depending on the country of sale, these “formalities” may be different. Familiarize yourself with the legal side of the issue.

If you want to learn more intricacies about buying a yacht, we recommend that you read this material:

New video on the Interparus channel🎥

Do you want to become a skipper? Do you want to not only go on cruises on your own, but also earn decent money from it? Sasha Goron will share recommendations on how to turn a hobby into your life's work.

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23.04.2024