Welcome to Yacht Hunter, which is the perfect destination for Yacht lovers! In today's video, we're going to be talking about one of the most commonly asked questions in the yachting world - How much does it cost to buy a yacht? Let's enjoy with me the Yacht buying guide and subscribe to my channel.🙏🙏 / @yachthunter
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00:00 Intro
00:10 Frist Tips
00:50 Second Tips
01:25 Third Tips
02:05 Fouth Tips
02:25 Outro
Purchasing a yacht can be an exciting experience, but it's important to understand the costs involved in owning a yacht. In this video, I'll share four top tips on how to budget for your yacht purchase and make sure you have the funds to cover all the associated costs.
1) Set your max purchase price and add 20%. The yachts at the top end of your budget are going to appeal to you more. They’ll either be bigger, nicer, or more modern, or whatever and if you buy the wrong yacht, you’re going to want to change that much quicker and cost yourself in time and transactions so buy the right yacht the first time around.
2) Turnover - Realize that typical yacht owners change their yachts like their cars, every 3 - 5 years. They’re tastes change, they seek to have the latest and greatest, or they move on to other interests. If you’re planning on having a yacht forever, that might be a bit delusional.
3) Conservative Operation Costs - Typically you’re told that 10% of the purchase price of the annual insurable value of the vessel will be how you can best estimate your operating expenses, but screw that. Do yourself these two big favors; bump that up to 15% so you’ll be very aggressive and active in the maintenance and less hesitant to cut the checks as you approach the mark which will help you tremendously at the time of resale. Also, make sure you ask the owner of the yacht you’re buying regarding their running costs. If they can produce this in a timely manner, it’s a good sign that they keep their records organized and stay up to service.
4) Depreciation and Resale Consideration - Most don’t think of this when they buy but try and forecast what the cost of your yacht will be when you sell it including depreciation, commission, and several other factors. This can be obtained in your free Yachtlytics yacht purchasing report but at the end of the day yachts are negotiable instruments sometimes up to 30% below their listing price so buyer beware.
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Thanks for watching and until next time happy yachting my friends.
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