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Yacht ownership - things you need to know when buying your first yacht

Have you ever thought about what the term ‘yacht ownership’ really stands for? What do you really need to know before purchasing your first yacht and start sailing all those seas you were dreaming about for such a long time?

Owning a yacht is fun, exciting, and seems like a dream come true. It gives you the freedom to visit the most beautiful, wild beaches and stay there for as much as you like. You could spend days and weeks discovering all the beauties of the marine world and enjoying the summer to the fullest, under your direction.

But, besides all those amazing benefits that yacht ownership includes, there are certain things you need to know if you’re ready to buy your very first dream yacht. There can be hidden expenses and lots of challenges that could provoke headaches if you are not aware of them in advance.

Here are the TOP 5 things you’ll need to know before you treat yourself to a new sailing beauty and enjoy the yacht ownership in the best possible way.

#1 Prices on the market depend on many factors

The first thing that you need to get familiar with is the cost of yacht ownership. It is important to be informed about the current yachts’ prices in order to avoid spending more money than it’s necessary. Buying a yacht is truly a huge investment, and it should not be taken lightly.

The most common, mass-produced yachts are between $100,000 and $5 million, while those semi-produced can reach the price of $25 million. If you’re searching for a fully custom boat, you can spend a true fortune of $100 million and enjoy all the benefits of this imposing water giant.

You can also find used yachts at affordable prices that vary depending on the year of production, the condition of the yacht and the size. With the help of an expert, you can be aware of all the important elements involved in a yacht that might even help you negotiate a price with the seller, before owning a yacht of your own.

#2 Test ride is the best way to know which yacht is the one

If you are determined to buy your first yacht, one of the most important things that you need to do is to go on a test ride with all those shortlisted. Remember that the process of choosing doesn’t differ much from buying a car.
The best way to know whether a certain yacht is good or not is to test it for at least a day. Plan to spend one whole day on your potential new yacht, because several hours on the sea isn’t enough to get the whole picture.

Once you do that, you’ll definitely find out what kind of yacht suits you best. It is also good to take an expert with you who can evaluate all the good and bad sides of the yacht and help you decide which is the one for you.

#3 Maintenance includes expenses you need to consider

Owning a yacht doesn’t just mean having the beauty parked somewhere in the marina and having it ready for your next sailing adventures. It also means the expensive costs of its maintenance. The cost of yacht ownership also includes expenses of the yacht maintenance.

Where do you plan to keep your yacht? How much money does it cost to maintain and fuel your sailing beauty? Do you need a professional crew and a captain who’ll run your yacht? There are lots of questions that require answers and total costs to reconsider before you make the final choice.

For example, if your owning a yacht that operates in the Mediterranean, the annual cost for its’ maintenance could be around $770,000, while the cost of the management could be up to 15% of the total amount.

#4 Yacht insurance is the thing of the great importance

Yacht insurance is extremely important, since sailing the sea can be very challenging and, sometimes, even dangerous. Even though you’d do anything to keep your yacht under control, potential disasters can occur at any time or place.

Having insurance is an integral part of the cost of yacht ownership. It can provide adequate protection from all the potential risks that include damages from fire, collision, piracy, theft, grounding, bad weather, etc. In case of huge damage, many insurance companies offer a fixed monetary sum that can be more than helpful for renewal. With a great insurance plan, the total cost of the repair can be reduced.

The best way to ensure your yacht is to choose a renowned insurance company that will offer you the most complete coverage, for the affordable amount of money. Besides covering the potential catastrophes of the yacht, you can also ensure the lives of all the passengers on your yacht. Find the great insurance agent who’ll help you get through the whole process.

#5 Safety on the yacht is crucial for all the passengers

Last, but not the least important thing to keep in mind when buying your first yacht is the safety of all the passengers on board. Before you even think of sailing with your new yacht, you need to become a safe boater and to have all the necessary information about sailing safely.

You need to take a boating course and get familiar with all the boating rules on the water road. Yacht ownership also requires you to check weather and water conditions before you tend to depart. You also have to operate at a safe speed and have the proper gear that will be helpful in unpredicted situations.

Don’t forget to avoid alcohol, because driving a yacht while intoxicated is against the law.

Enjoy your summer sailing on the Adriatic coast

Once you purchase your new yacht and get familiar with all the necessary information that you need to know, you can start planning your sailing routes. One of the most popular sailing routes is in Montenegro, on the Adriatic sea where you can visit some of the most fairy-tale-like places in this part of the world.

Visiting Porto Montenegro with your new yacht

One of the most exquisite places that you must visit on the Adriatic coast is Porto Montenegro. It is a nautical settlement in Tivat, famous for its’ luxurious marina, where you can berth your yacht and enjoy all the charms of this wonderful place in Montenegro.

Plan a route to Porto Montenegro and relax to the maximum in the combination of luxury and natural beauty that this nautical resort has to offer.