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4 Most Common Myths About Owning a Yacht

Owning a yacht is a lifelong dream for many, and it can feel like one when you’re sailing on the ocean. However, owning a yacht comes with a lot of responsibilities. There are also many misconceptions around yacht ownership, and some may dissuade you from buying one. However, you should make sure that you take anything yacht owners tell you with a grain of salt, and verify any information that they give you. Here are some of the most common myths about owning a yacht.

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The Two Best Times in Yachting are When You Buy the Yacht, and When You Sell it

This is only true if you had a completely different idea of what owning a yacht would be like. In reality, the best times should be when you get to enjoy it with your friends and family. 

You have to be ready with all the maintenance work that comes with owning a yacht, however. You also have to know that you can’t just man it yourself – you’ll have to hire a crew. You might have disagreements from time to time with members of the crew, or something might suddenly break down, putting the yacht out of commission. Make sure that you know the truth about yacht ownership and that you’ll use it enough for it to be worth it.

Never Buy Used

This is another blatant myth. You can buy a yacht used, and it could be a great decision since you’ll benefit from depreciation. The only issue is making sure that it’s in working order or else it could turn out to be a complete nightmare. The right move here would be to have the boat surveyed before you buy it. There are services like Tess LLC that can get this done for you. Note that you may be obligated to have a survey performed on a used boat for financing and insurance.

There’s No Need for a Crew

Some people may think that they can go from being the captain of a smaller boat to a yacht. And, while it’s possible, there are many reasons why going with a skipper could be a great idea. For one, you’ll be able to enjoy your yacht as you intended to. They are also more skilled than you and will know how to avoid sticky situations. Not only that, but they could have contacts if you ever want to charter the boat. 

Docking a Large Boat is Near Impossible

You have probably heard that getting marina space for a large yacht is almost impossible, especially in exclusive spots, but that’s not true. As long as you find a good management company, you should be able to find space to dock your boat. You will need to be persistent, however.

These are all myths that should be dispelled right away about owning a yacht. We hope we were able to clarify a few things for you, but speak with a professional today if you have any questions.

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