Planning To Buy Yachts – Few Things To Bear In Mind

If you are planning to buy a yacht then it is quite obvious that you will have many choices. This will make your choice quite tough and you could end up in a state of confusion. To avoid this it would be better to find out some ways and means by which one could identify the right yachts for sale professionals. With so many of them, there is no doubt that this is not going to be an easy task to say the least.

Bear In Mind the 30:70 Rule

Most manufacturers of yachts generally make 30 percent of the boat. The remaining 70 percent comes assembles. Therefore, these 70 percent parts may have to be replaced every now and then. This could be a drain on your pocket. The 70% items that we are talking about have to be sold before they are replaced. They come with very low realizable value because of high depreciation. The depreciation rates are generally around 50% for the first ten years and it could up to 75% after the first decade.

Keep In Mind The Total Acquisition Cost

It is also important to focus on the total acquisition costs. The costs should include the purchase price and the refits which often become unavoidable. You would do better to spend 50% of the boat budget for buying the boat. The balance 50% could be used for refits and upgrades. Many of us often make the mistake of not having enough money for refits and upgrades. Further, you also should take into account the annual maintenance budget before making the purchases. You don’t want your boat to be stuck on the dock because it will not give you any joy whatsoever.

Stay Away From Long Lists And Cosmetic Makeovers

In most cases, the equipment that you buy would be important and vital for running the boat. But, you also should be alive to the fact that many brokers and even direct sellers try and push some readymade boats with some so-called fancy fit outs and upgrades. You must not fall for these fancy things unless of course it is very essential. The term recent refit is quite often used but you must be sure that you should look at it with skepticism.

Look At Reputation And Goodwill

It would always be advisable to pay slightly more for a boat and buy it from a reputed seller. This would be much better than trying to cut corners and end up buying something inferior. You must always bear in mind that buying a boat is big investment and it takes big money and effort and there is also quite a bit of emotional attachment involved in it.

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