We’ve thought of it at least once in our life, sailing through the seas and just relaxing on you private yacht. But is it really a good idea to buy a yacht? The answer is; it depends, can you afford one? You might think buying a yacht is as simple as buying a car, you go to the dealer, fill up some paper work, and you’re done! Not even close! Unlike your car, you can’t just park it on your drive way, you have to put it somewhere that cost’s money, that and the fact that you also have to keep the yacht maintained to be seaworthy and retain at least some of its value. If you have a considerably large disposable income then maybe just maybe it would be a good idea.
If you are a person with a large disposable income then great! You now have the ability to buy and maintain your yacht. Now, what will you do with your yacht? If you’ve got a whole lot of money to burn I recommend a Summit Yachts yacht rental company. But if you’re thinking of buying a yacht to flip or something, well you better be knowledgeable in the market of yachts and Yachts themselves. Buy a crappy one, you’re broke, buy an overpriced one and can’t sell it even at the same price? You’re broke. But think of the bright side, if you’re in deep shit and need to get away from your creditors, you can escape to the seas and live off fish for the rest of your life.
Jokes aside, buying a yacht and using it for your own pleasure is an awesome experience. And if you want to make a little money on the side while not using it, rent it out. But it is important that you know what you are getting yourself into; if you can just afford it along with the cost of having one, make some research first and make sure you are buying it at a good price, so if you get tired of owning one you can sell it at a competitive price. Be warned though, the yacht market is often illiquid; it’s hard to sell luxury items like this.
So back to the question; is it a good idea to buy a Yacht? Yes, as long as you know what you are getting yourself into. It’s good to enjoy life and have adventures, within reason of course.