10 Helpful Tips for Buying a Boat or Yacht
Flying Cloud Yachts has been assisting first time boat buyer as well as seasoned yacht owners since 1970. Located in Alamitos Bay, serving local, national as well as international mariners with yacht acquisitions for over 45 years has resulted with thousands of successful transaction and satisfied customer. Flying Cloud’s team of professional yacht brokers will provide you with all the information, guidance, assistance you need from the very first conversation through to handing you the keys and title to your new boat.
Here are 10 helpful tips that are very important in helping you with a successful purchase of your first boat or next yacht:
- Interview more than one experienced yacht broker / brokerage firm; determine their knowledge and professionalism as well as individual personality. This relationship will not end with the purchase of your new boat; it’s just the beginning of a great yachting relationship.
- Once you have selected your broker, sit down with him / her and discuss what you are looking for, your boating experience, what type of boat you are looking for Power or Sail.
- Time to consider how you intend to use your boat. Is it just for professional entertaining, family weekend cruising or long distant extended blue water excursions. Also is this the beginning of your boating pastime or the acquisition of a lifelong dream.
- Next will be to consider what size will fit your Sail Boat or Motor Yachting needs best. Are you looking toward power boats and gas is ok, or are you looking toward motor yachts and diesel is preferred.
- Budget, this is a critical step yet probably the most important step to get right. Are you looking to pay cash, or are you looking to finance? Sitting down with your broker and having him / her discuss in detail all the financial cost associated up front associated with boat ownership will make the transition from non-boat owner to yacht owner far less surprising as well as less stressful.
- Time to go boat shopping / previewing this is just as critical if not more so then the 5 previous steps. Your broker needs to not only show you boats you have identified as your top interests, but he or she needs to be listing to what you like and don’t like. They are the professionals; they do this every day, they should be listening you and be prepared to offer yacht options that you may be unaware of that just might be the perfect boat option.
- As a first time boat buyer or a long time mariner moving up to your next yacht a crucial factor that need’s to consider is how long are you planning on keeping this boat before you decide to move up to your next yacht. Resale value comes into play, facts are facts, newer model are more desirable, costing a little more, being well maintained generally become more marketable, faster to re-sell when it comes time for your next boat.
- After weeks of previewing boats and yachts you have selected your perfect yacht. Your broker should providing valuable information not only locally but nationwide cost comparisons for the yacht you have selected. Your broker should also be providing sold boat comparisons which will validate a fair offer translate into an accepted contract leading toward your new boat.
- Your new boat is under contract, how do you best protect yourself and what you think you are purchasing. Step one is a Sea Trial, this process helps you determine if this boat is right for you and your intended use. Step 2 is what is referred to as a mechanical inspection which helps you to get a better understanding to the mechanical health of the boat but also lets you know what may be your first expense. Step 3 is known as a marine survey, this not only gives you a total understanding of the overall condition, but your insurance provider may request this as well as your marine lender. Step 4 is for customers buying sailboats which a rigging inspection rill give you a perfect understanding as to the condition of both the standing rigging but also the running rigging
- Last but certainly not least, is to keep an open mind, be honest with your broker be patient, be flexible on pricing through this process and enjoy a great opportunity looking at many boat options.
Flying Cloud Yachts offers 6 full time yacht brokers with over 150 years professional marine related knowledge, 45 + years yacht brokerage transactions able to guide you every step into purchasing your first boat or your next yacht.