Buying your first yacht

Buying a yacht is a dream of many. It conjures up images of serenely sailing into the sunshine, free to explore exciting new places from a yacht with all the mod cons. Owning your own yacht might seem expensive and unachievable.

Buying a brand new luxury yacht is obviously unaffordable for most people. If you stretch to the top of your budget, you might not be able to afford training, insurance, fuel, crew and maintenance. A smaller sailing yacht, however, may be more affordable than you first thought. Browsing broker’s websites will give you a rough idea of how much a yacht is going to cost - some are just £16,000. This is a fraction of the price of regularly hiring a sailing yacht or paying for hotels or expensive travel on holidays over the years. And the experience of freedom to explore the seas at your own pace and from the comfort of your own surroundings is much more rewarding.

A broker will be able to source you a suitable yacht for sale. The advantage of owning a sailing yacht to a motor yacht is that sailing yachts rely on a cheaper and more relaxed form of fuel: the wind. Sailing also allows you to put your true captaining skills to the test.

The main types of yachts are day sailing, weekender, cruising and luxury yachts. Day sailing yachts are sometimes called dinghies, and often do not have a cabin as they are intended for short journeys which do not extend overnight. Weekender yachts are under 9.5 metres in length, usually have a cabin or two and are intended for use for no more than 3 days. Cruising yachts are larger, usually between 7 and 14 metres long, and are equipped for long journeys. Luxury yachts tend to be over 25metres long, with even more space and luxurious finishings.

The process of finding a yacht for sale begins with the broker. Gather a general idea of your budget and needs before speaking to a yacht broker. The size of the yacht often depends on your budget, but remember you may be able to charter your yacht out to earn some money to cover costs while you are not using it.

If you are buying your first sailing yacht it makes sense to buy through a broker. They will share their expertise into the different types and brands available, answering any questions which you may have. Understand your needs before contacting a yacht broker. Will you be spending weeks sailing the world, or sailing the coast of Britain on the odd day at the weekend? Source a place to keep your yacht too. Dockage can be difficult to find in some areas, so talk to the people at marinas about available space before you buy your yacht. If you will be chartering your yacht out think carefully about where you will want to dock it. Crowds hit the Caribbean each winter and the Mediterranean each summer so this is when you will be able to make most money chartering your yacht out.

Ask if you can try before you buy. You will only truly be able to know if you like the feel of a boat by spending time on board, and your yacht broker will explain whether this is a possibility.