Owning a yacht is the key to a new lifestyle filled with freedom and possibility. But do you know how to buy a yacht?
The journey you need to take to get there is fraught with the need for careful planning and knowledge in yacht choices, especially for first-time yacht owners. Whether you’re looking to buy new or broker a used yacht, this yacht buying guide covers everything you’ll need to know before signing on the dotted line to ensure you do so with confidence so you can sail away with your dream vessel.
Define your yachting goals before you begin your search to prevent costly mistakes.
Determine your intended use.
Sailboats consume less fuel and enjoy greater autonomy than motor yachts; however, they require larger and more skilled crews to operate them.
Consider chartering a yacht that’s similar to the one you have your eye on before buying it. That lets you evaluate whether the layout, cruising comfort, fuel consumption and handling characteristics are suitable for your needs and preferences.
Are you buying a new boat or pre-owned?
A new boat comes with the benefit of factory warranties and the ability to choose various options like a hi-lo swim platform or stabilizers.
On the other hand, secondhand boats can offer a bigger boat for the money, and any early problems may have been solved by prior owners.
For first-time yacht owners, we advise against purchasing a used vessel requiring a full refit. It’s often more complex and costly than anticipated.
R. van der Deure – Yacht Broker
Will you be requiring financing to purchase the yacht?
For a new boat you can consider a LOA (Location avec Option d ‘Achat) leasing in France. You can select a boat model and options from a boatbuilder or dealer.
The good news is that the financing of a new and used boat through a leasing is also possible if it is taxable in terms of VAT.
Check out our boat loan calculator.
Get a preapproved loan before you start your yacht hunt. It surely would make the purchase so much easier and save you from the disappointments and missed out opportunities.
R. van der Deure – Yacht Broker
Do you know what is an “ammodiation”?
If it might seem simple to secure a mooring in the French Riviera, eachmarina isn’t the samemaking and process vary.
Owing to the ever-expanding number and size of boats, there is strong demand for premium berths in the southern France around Menton and Saint-Tropez. Mooring your dream craft can be a tricky affair, particularly for owners who want to be close to their waterfront pads.
Including annual operational costs as a part of your yacht ownership budget beyond the acquisition price is something to consider when planning your purchase.
These costs include fuel, maintenance, insurance, crew (when applicable), and berthing fees of between 10 and 14 percent of the value of the yacht. Chartering, even for short periods of time, can help partially offset these costs, although it may curtail your personal use calls during peak times such as July and August.
How many guests do you intend to accommodate on board on a regular basis?
Will you sleep aboard, and if so, how many cabins do you need?
Keep in mind that although aesthetics are a big part of design, also think about accommodation and general arrangement especially for vessels carrying children or elderly individuals.
R. van der Deure – Yacht Broker
A boat ideal for anchoring will prioritize stability and autonomy in varying conditions. Air conditioning and stabilizers significantly enhance onboard comfort while at anchor.
Long range cruising vessels boast significantly strengthened hulls for enduring harsh sea conditions, vastly increased fuel and water capacities for self-sufficiency, and redundant, efficient power systems to ensure reliability.
Displacement yachts may be more suitable for winter cruise because they often have more interior space and comforts (they come with sophisticate stabilisation system) than most sport yachts.
Sport yachts offer sleek lines, open deck spaces well-suited for the warm Mediterranean summer weather, and greater speed – perfect for island hopping.
If you are looking to regularly get your yacht chartered in France, you’ll need a qualified skipper (minimum Captain 200) and proper insurance.
A suitable ownership structure and a commercially registered yacht is also required. Unlike Spain and Greece, you don’t need a charter license in France. Finally, keep in mind that a professional crew makes for a much better ownership and charter experience!
Check out our luxury yacht charter website.
A yacht broker can help to source the vessel that meets your needs at the right price, and navigate the paperwork with the French authorities required to establish ownership in France or elsewhere, whilst also giving a wealth of market insights when it comes to cost and property upkeep.
Buying a boat may be time consumming if you don’t follow a strict process.
Read our post: The second hand yacht buying process.
Hi
I’m a senior yacht broker at Charterminute SARL in Antibes south of France.
