Choosing the right vessel for you is obviously important, but with so many options out there now, where do you even start? It seems like a new model pops up every month from the myriad of manufacturers out there and paralysis of choice is quick to set in.
Have no fear! Your Buyers broker is here!
My job is to help place you in the proper Yacht that best suits YOUR mission, not just push my current inventory.
So lets start with these five tips to help define your mission and narrow down our search for your dream boat!
We all would love to find a boat that can do it all, but many times external factors (Budget, Marina limitations, Experience) get In the way of having too much fun.
What does your average day on the water and at the dock look like?
How many friends are joining you?
How many of those friends are boaters? Accessibility to lines and a wider walk-around may be important for you if your guest are inexperienced.
How long are your trips? Do you need a day head for guests?
What is the realistic range of your average trip?
How many days will you be away from the dock at a time?
Will you regularly use the galley underway to entertain?
Do you anchor out regularly for over nights?
Do you boat in a very hot climate? Is A/C required at the helm?
Do you like the sun? Or are you a vampire with the wrong hobbies? Maybe a hardtop or full enclosure is required.
Do you work remotely regularly? Do you need an extra stateroom for an office?
What is your ideal sleeping arrangement? Do you need a full walk around bed?
How many people regularly stay overnight?
Many people like to have their friends or kids stay on board once or twice a season, Is that one weekend worth the extra stateroom or can they get a hotel?
These are only a handful of prompts that can help refine our search. Sometimes we get a little excited and think we need more boat than we really do for the mission, and sometimes its the opposite which is usually more problematic.
With answers to these questions in mind, we can start to suggest boats that check off these boxes.
Everyone has their own unique way of boating, There’s a reason there’s so many options! Lets find the right boat that was designed for your specific mission.
2. Know your restrictions before you start shopping.
Where will you be docking the boat?
Many Marinas will have wait lists, dimension maximums, and draft minimums to keep in mind.
Marinas can really put a damper on things when you’re shopping for a larger boat.
Length Over All (LOA) is the metric they will almost always go off of (Yes, that means the extended swim platform and pulpit as well).
Getting into the dock what is the minimum draft you can get into the dock with? (If you boat where there’s tide, what is the depth at low tide?)
If you’re in the north - Where will you store the boat in the winter? Do they have a max capacity?
These things can be ironed out pretty quickly but are important to know before you buy!
3. How important is quality build to you?
Over the years I’ve noticed some patterns in personality types that have been helpful in placing people in the right boats for them.
I’ve noticed certain professions have a higher regard for quality components, Premium fiberglass work, and overall superior build quality.
For example, Developers familiar with using premium building materials typically have a higher value of the construction of the boat.
Lawyers, Engineers, and Designers who value projects being completed properly and thoughtfully seem to buy similar premium built boats.
Yes, of course, we all prefer those things in a boat. But are we willing to pay the premium for premium quality?
For those of us with a more modest budget, there is hope!
I have found that many times purchasing an older, but higher quality boat, can be more cost effective then buying a shiny new (but lower quality) Boat. Typically a lower quality brand devalues much faster and requires more maintenance over time!
This brings me to tip number four!
4. Know your THREE budget.
Yes, THREE budgets!
You have your Acquisition Budget:
This is the total amount you will be spending to purchase the boat, survey, upgrades, transport, and all costs associated with your purchase! These are one time “Fixed” fees.
Then you have your Annual Fees Budget:
These are your “Fixed” expenses every boat owner has- Dockage, Winter Storage, Captain/ crew (If needed), time dictated service items, and Insurance.
The Acquisition and Annual Fees Budget are the two most important- These fees are set no matter how much you use the vessel.
Your final budget is your Operating Expenses Budget:
This is your variable budget based on how much you use the boat: Fuel, Service, Provisioning, Cleaning services, and Transient dockage fees.
Something to consider:
The higher quality boat (Usually Higher Acquisition budget) normally has a direct correlation with having a Lower Operating Expenses Budget since things are usually requiring less service, or designed for more efficient (less expensive) service.
Last but not least, my final tip:
5. Don’t buy from a private seller (Unless your REALLY know them)
Once you find your dream boat and are ready to spend that Acquisition budget, do you really feel comfortable sending all your funds to this stranger?
There are numerous reasons to use a buyers broker, one HUGE reason is having a third party involved that can ensure each party is safe and not missing something important.
There are too many horror stories out there of deals gone wrong, don’t be another statistic.
A yacht purchase is one of the largest purchases some people will make in their lives.
Ensuring your financial safety, your private information secure, and making sure you aren’t inheriting someone else’s problems or debts are only a few of a good brokers duties.
Besides for executing the sale properly and safely, A good buyers broker will negotiate huge savings for you and save you the time and stress of going at it alone.
Did I mention it doesn't cost you any extra to use me as your buyers broker? Why go at it alone?! Give me a call and we can find the right boat for your mission together.
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