A New Year, A New Yacht

If you’re hoping to purchase a new yacht in 2015, you likely have a lot of questions about yacht services in Ft. Lauderdale, FL. Questions of how to best purchase and finance your yacht will likely be at the top of your list. Here’s some information that will hopefully come in handy during the process. Happy sailing!

What do I need to know before buying a yacht?

The choices that come along with a new yacht purchase are endless: custom finishings, Jacuzzis, sizes and timing can all come into play. But there are some simple axioms that can help make navigating these choices a whole lot easier.

First of all, keep in mind that customization can have a direct affect on both timing and safety. If it’s your dream to design a yacht from scratch, that’s great, but you should be aware that full customization makes for a longer wait period, and it can also affect how your yacht will be able to move through the water. A brand new design is untested, meaning operational problems may arise after purchase, which will add to the overall cost of buying and maintaining your yacht. If you’re set on adding your own touches to your yacht but don’t want to worry about these potential problems, semi-customization is probably your best bet. The base of your boat will be a proven design, and you can add the custom flourishes to suit your taste.

Another factor to keep in mind is how easily one choice may end up costing you big bucks. For example, you might decide you want your yacht to be capable of traveling at 20 knots, or about 23 miles per hour. That’s a valid choice, but it will mean your boat will be burning four times more than a yacht that travels at 12 knots. That’s a sizable difference, so you want to be sure that speed is important to you before committing to a higher knot capability. You’ll want to consult with experts about decisions like this, and make sure you know what’s important to you before going into the buying process.

Finally, remember that you can’t really know if you’ll love a yacht until you test it yourself. You should at least take it for a test sail before committing, or try chartering or leasing it or a similar one if you can.

How should I finance my yacht?

Financing a yacht can be a convoluted process, and each buyer’s situation will be different. However, there are a few terms and guidelines you should be familiar with as you get started.

First off, you should know how a yacht’s value is decided. The value of a yacht should always be set by a licensed yacht surveyor. If the party you’re buying from hasn’t consulted with a surveyor, it’s okay to ask about it. Second, an escrow account is a legal, safe account that allows you to keep your yacht deposit safe. Your yacht broker should be able to assist you with an escrow account. Finally, you’ll want to know about the four documents you’ll need to close a yacht sale or purchase: documentation of income, evidence of assets, a yacht contract and a copy of the buyer’s identification.

These are the basics, but there’s a lot more you might need to know about buying and financing a yacht. For help with any yacht services in Ft. Lauderdale, FL, you can contact Starboard Yacht Group LLC.

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