Beginner's guide to buying the best yacht for your needs

When considering buying a yacht, the amount of information out there might feel overwhelming, and it is completely normal to feel a bit anxious as well as excited about the whole process the first time around. Ultimately, it comes down to what kind of boating experience you are looking for – how many people you cruise with, and where you plan to go.

It is tempting to start off with the looks and speed of your new vessel but with many different types available in the market, you should definitely begin by asking some right questions to narrow down the selection and find a yacht that will suit you and your lifestyle best.

Which type is for you - a sailing yacht or a motor yacht?

First of all, it is important to understand that all yachts are divided into two main categories: sailing yachts and motor yachts. A sailing yacht requires a more hands-on approach but offers a quieter ride, a purer boating experience, and the freedom to travel anywhere in the world with only the wind. In contrast, a motor yacht has less maintenance and more speed and typically has more accommodation and entertaining space on board. However, a traditional, non-electric motor yacht is costly to keep running.

What are your needs for the yacht?

After you have decided on the type of yacht, it is time to understand what are your needs on the water. It should help you when choosing the size and amenities on board. If you primarily boat with just your beloved for short trips, you would not need to have bedrooms and crew quarters, as well as other appliances and extras such as washing machines, and a dishwasher. Those come in handy when sleeping onboard, or spending a few days cruising. On the other hand, yachts that are intended for year-round living will have these extras and other amenities such as a larger power supply and water-holding capacity. You might also want to consider open and enclosed flybridge for added entertaining space, as well as enhanced safety features all around – things like proper lighting, handrails all around, and wide side decks.

How much would like to spend on your yacht?

We would like to highlight that a bigger budget does not necessarily mean a bigger boat. You might opt for something new and luxurious, but smaller, or else choose older and simpler, but larger. Keep in mind that bigger boats require more fuel and might be tougher to navigate through busy marinas. Also, you must account for things like moorage fees, insurance fees, repair and maintenance fees, and any add-ons as well as fuel fees.

Motorboats are a hobby, while sailboats are more of a lifestyle

There is no good or bad choice, it all depends on your personal needs and expectations of the life on the water that you seek. If you want to enjoy the water without much fuss during weekends or holidays with your friends and family, a powerboat will give you such an experience on the water.

On the other hand, if you’re looking for a way to get closer to nature, and explore the world, a sailboat is the vessel for you. Keep in mind that a sailboat requires special training to operate and more time to plan trips. Despite that, sailing is a purer boating experience that forces you to focus on the task at hand and the elements around you.

Finance your yacht

Once you find the yacht of your dreams, it is time to consider the way of purchasing it. You can either pay the full amount by yourself or opt for a lease. Here at St Julian’s Maritime Finance, we offer asset-backed finance between €1 million and €10 million as well as registration and other related services for new and pre-owned yachts. Our unique operating lease is the most suitable finance product for higher valued commercially and privately used yachts, in particular, the VAT treatment for privately used yachts is very beneficial as the VAT is not charged on the purchase value but on the lease rentals. This allows you to acquire and use your yacht in a more efficient and economical manner.

Get your customised financial proposal today – contact us.

St Julian's Maritime Finance is regulated by the MFSA under the Financial Institutions Act (Cap. 376 of The Laws of Malta) and authorised to carry out services of financial leasing, bearing MFSA Authorisation ID: SJMF-FILI-16904.