If you’re considering purchasing a superyacht, there’s a lot to consider. Once you’ve asked yourself all the necessary questions, there are a few more things to consider, from chartering to maintenance and navigating the complexities of ownership.
Prior to purchasing a superyacht, try chartering it first
Before you buy your first boat, charter a variety of sailing and motor yachts.
By chartering one, you will have a far better idea of exactly what you need on your future yacht.
Since no two people are alike, you can only truly know what aspects of boating are most important to you once you have your own experience. List the essential and optional “nice to have” features.
One significant benefit of renting a boat is that you can experience the pleasures of sailing while minimising your financial outlay and not having to worry about a trip’s operational or navigational aspects.
To select a suitable boat, look through our list of online charter booking platforms or contact a reputable broker.
The variety of superyachts available nowadays ensures everyone can find what they’re searching for.
Make sure the crew on the yacht you reserve has extensive experience and is familiar with the area you will be sailing through.
Your entire charter experience could be made or broken by an experienced crew!
Before buying a yacht, understand the complexity and cost of ownership
Congratulations if, following several enjoyable yacht charters, you decide that owning a yacht is what you want to do!
You have a decent possibility of achieving a lifestyle of independence that very few people ever get to enjoy.
You’ve already reviewed our list of inquiries and taken notes by now. Your mental image is beginning to get more accurate.
Out of all the issues we have discussed thus far, these two questions are the most crucial at this time:
- Do I want to have a new superyacht constructed for me, or do I prefer a preowned superyacht?
- Do I have a sufficient understanding of the extent and expense of routine maintenance and operations downtime?
A new build is a complex, drawn-out, but highly satisfying experience. The only things stopping you from getting the yacht of your dreams are your imagination and your money, but once it’s done, you can be confident that you got it just as you had envisioned.
We strongly suggest you take your time and thoroughly grasp the new construction process, including its phases, periods, and expenses, before you begin.
A significant portion of boating involves balancing your expectations with the realities of the situation.
I doubt any other sport can compare to yachting in terms of fulfilment and enjoyment.
But if you’re unprepared, things can quickly become very expensive and annoying.
Many owners are reluctant to discuss intricacies like crew training, maintenance schedules, and other aspects of yacht management.
Fair enough, since you put in a lot of effort to have skilled experts manage your yacht.
But in our experience, what destroys the boating experience for most owners is precisely their ignorance about impending expenses and the need for upkeep.
People prefer to avoid discovering they have an unforeseen large bill to pay or cannot use their yacht because of repairs.
As an owner, our greatest recommendation is to educate yourself on the sector and ensure you understand the basic financial and operational aspects before making a purchase.
Your experience will be better, and you’ll encounter fewer unpleasant surprises the more informed you are.
Being aware of the operational constraints and impending costs associated with your superyacht can help you make the most of your new favourite asset.
Summary of how to purchase a superyacht
- We looked into what factors are most important to consider when purchasing a boat and compiled our findings into this buying guide.
- Our suggestion is to start with why, test-drive as many boats as you can, reserve yacht charters, and use your network.
- To prevent surprises, make the complexity and cost of upcoming activities clear.
- Above all, don’t hesitate to learn as much as possible about the field.
- To acquire all the required information, read articles on Frei Solicitors blogs.
- We advise you to keep reading to find out where to get a yacht.
- Email us if you need assistance selecting a boat to purchase or charter. Together, we will identify your needs and choose the ideal course of action!
- We also need your input on the following: Which aspect of owning a yacht worries you the most?
Should you need further guidance please feel free to contact Frei Solicitors.
Book your 30 minute complimentary consultation with Hakan Doğancı.
