Your Guide to Buying, Renting and Sailing Yachts!
Owning a yacht is by no means a small financial venture. Yachts can range in price from a few thousand dollars to basically unlimited. It’s not rare to see them auctioning for more than a few million dollars. Even if you opt for a less expensive yacht you have to consider maintenance.
Every year you can expect to spend about 10% of the total price of your yacht in maintenance. A Yacht is a type of boat; as such it will be in the water for most of its life. Constant contact with the elements and with water takes its toll.
This is amplified ten-fold if you have your yacht on sea water. Salt and other minerals wreak absolute havoc on the exterior of the yacht as well as the mechanical components inside.
Aside from initial cost and maintenance, you get to worry about licenses and permits to use your yacht depending on where you live. If you’re yacht is bound for sea, you’ll probably want to have a port to keep it at.
Most of these places will have a monthly rate of around $15/ft. and usually have a minimum (such as 30 ft. minimum). For an average-sized yacht of 45ft you’re looking at $675 a month, just for your yacht to have a place to stay!
Before you decide if owning a yacht is really for you, make sure you consider the financial and logistical challenges that lay ahead. Owning a yacht is an extremely fun and rewarding experience that you’ll enjoy for years to come.
All the same, if you’re not financially or mentally prepared to own and maintain a yacht, it could be a decision you end up regretting some time down the road.