Published On: Thu, Nov 3rd, 2022

Why Boat Sales are Off the Charts and Why Now is The Time to Jump On Board

Sailing is relaxing and most people enjoy it. If you are one of them, then buying a boat is probably on your to-do list. Despite the pandemic, boats are no longer a risky investment. Interestingly, boat purchases are on an all-time high. You might be wondering why the best time to buy a boat is now. Here are a few reasons why:

  • Boats Are a Great Investment

Covid-19 Pandemic has made traditional assets like stocks and bonds very vulnerable and unstable. It is a prudent idea to convert these assets into something more tangible like a yacht. Yachts have a guaranteed long-term value and a wise financial move. Although rare, yachts can appreciate in value. However, yachts are also an excellent investment in your lifestyle, family, and wellbeing. The time spent and memories created when sailing is priceless. 

Your reasons for buying a boat should not just be financial but also for your satisfaction.

  • Interest Rates Are Lower

You can now finance a new yacht at a lower interest rate. A low-interest rate means a lower monthly payment. Additionally, banks and other money lending institutions have developed flexible payment plans for such purchases. This allows you to get a suitable watercraft and comfortably pay for it.

  • Home Away From Home

Yes, a yacht can be your second home. As long as the boat has cooking, sleeping, and toilet facilities, it can be considered your secondary home. Nonetheless, the interest in your yacht purchase as a second home is tax-deductible.

  • Travel in Style

Busy airports, delayed flights, and long queues at the security checkpoints are not your dream travel mode. Sitting upright in a stuffy bus is definitely not on your to-do list as well. Yachts offer a more enjoyable and comfortable alternative to traveling. Nothing beats traveling in a luxurious yacht. You can go fishing or take a dip along the way. At night, the beauty of the stars in the sky is unmatched.

photo/ Lisa Larsen

Factors To Consider When Buying a Boat

Owning a boat is a thrilling experience. Yet, whether you are an experienced buyer or a first-time shopper, purchasing a yacht needs proper planning. Before buying a boat, you need to consider several factors.

First, you have the option of buying a new or a pre-owned boat. This is largely dependent on your budget. New boats are more expensive than pre-owned boats, but a new boat allows you to choose various specifications. New boats come with a reasonable warranty as well. With a new boat, you will not have to worry about repairs and renovations than pre-owned boats. Nonetheless, you can get a pre owned yacht on Weller Yachts that is in mint condition. Before buying, remember to ask for a sea trial.

Second, another factor you should consider is the size of your boat and what you intend to use it for. You will need a bigger boat if you intend to take your whole family on fishing trips over the weekend. Consequently, you will need a different make if you intend to travel more. Ensure that your boat does what you want.

There are different types of boats. These range from sailboats, cabin cruisers, motor yachts, and trawlers. Before you make any purchase, be familiar with the type of boat you want. In addition to this, you also need to consider the engine type and sail options. The construction material, trailer, and tow weight are also important factors to be considered. Having these in mind will make your purchasing process smooth and less frustrating.

Remember to carry out a boat inspection before making any purchase. The inspection should be done by a professional and involve doing an in-depth review of your boat’s condition. Most boat-selling companies like Weller Yachts have in-house inspectors. A good inspector will inform you if the boat is sea-worthy.

Where To Buy Your Boat

After determining the type and size of boat you want to buy, you need to find a good boat dealer. Take your time and carry out your due diligence before settling on a seller. Here are a few suggestions on where to look:

Manufacturer Direct

Although most manufacturers operate through a dealership, a few startups may sell to you directly.

At a Boat and Watercraft Show

This is a great place to look, especially if you are looking for discounts. Boat dealers and brokers are usually keen on making sales at a boat show. New models are common on such shows and go for competitive prices.

Online Through a Private Seller or Boat Selling Websites

Websites such as Weller Yachts specialize in buying and selling both new and pre-owned boats. If sold by an individual, beware of scams. Hire a professional inspector to review your boat thoroughly before purchasing.

Reputable Broker of New and Pre-Owned Boats

A good broker will sell you a boat at a fair price. Additionally, a good broker will explain to you the advantages and disadvantages of each brand and advise you accordingly. Genuine brokers help you find a suitable boat depending on your taste and budget.

Cost of Boat Ownership

The cost of owning a yacht varies on a wide range of factors. A yacht broker will advise you accordingly through the entire process. That said, the general expenses you are likely to incur include:

  • Yacht insurance
  • Slip fees
  • Fuel costs
  • Yacht management and Captain costs
  • Service and maintenance costs
  • Taxes

You can choose to enlist your new yacht in a charter management program to save on some of the costs of ownership. For instance, you can enlist with a place like Miami Weller Yachts who offers various maintenance and boatyard services. Note that yacht charter programs differ depending on the location and size of your yacht. Some programs offer daily rates, while some have weekly rates complete with a full crew, captain, and chef. The boat business is booming, and it is about time you became part of it.

Author: Brenda Vollman

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