Buying a yacht is a big purchase; it’s not something you rush into; it’s definitely not something you get into without some research.
Whether it’s the cost, the size, its technological features, all will come into play.
Aspiring yacht owners who are new to the yachting world need to figure out which type they want and then go through these steps to acquire the luxury yacht of their dreams!
Step 1: Test the Waters with a Yacht Charter
Before you rush into buying a yacht, charter different yachts to see which yacht’s experience you like the best. A test run will not only help you decide which one’s best for you; it will also give you an idea of what the purchase will entail. For example, different yachts will have different sailing methods, yachting regulations, maintenance methods, and docking processes that you need to be aware of.
Step 2: Know Your Budget
For first-time yacht buyers, knowing your budget and affordability options will help you decide what type of a yacht you want.
The size of the yacht will factor into its price. Smaller 40-50 ft. long yachts are usually widely available in the market and have a lot of features that are suitable for your budget. Larger yachts will feature more high-end, luxury options. Make sure to insure and register your yacht purchase.
Step 3: Buying a Pre-Owned or a Custom-Designed Model
Will you be buying a pre-owned yacht whose interiors and exterior have already been designed? Or do you want to have your yacht custom-designed according to your needs? Designing your own yacht can be an exciting step of the process; you can build it to suit your own taste. On the other hand, a pre-owned model will save you quite some money.
Step 4: Management and Maintenance
You can either maintain the yacht yourself, which can be quite tasking, or you can hire a professional crew to take care of the yacht for you. Everything from a chef to caretakers will be available for crew services.
Also keep in mind the fuel and oil needs of the yacht. Find out where you can tank up your vessel.
Step 5: Docking and Location
Will you dock your yacht near your place of residence, or will you have it stored at a docking marina?
You can secure a docking berth at a city harbor, but you will need to get access to a yacht club membership, pay initiation fees, and monthly taxes.
Step 6: Consider the Resale Value
If for some reason you decide to sell your luxury yacht in the future, it is better to know its resale value when you’re first buying it. If you’re investing in a yacht, start with a small one and upgrade your way to a bigger, luxury yacht.
Step 7: Find the Right Yacht Broker
The yacht broker you go to will help you identify the kind of a yacht you need and then find the right one for you. Keep reliability, and experience in mind when you seek a yacht dealer.
Here at Cabo Yacht World, we’ve been in the nautical industry for a decade and provide the finest, most deluxe yachts for our valued clients. If you’re looking to purchase a luxury yacht in the Cabo San Lucas area, contact us on 624 168 9544 right away!