Buying your first yacht can be difficult when you consider the dizzying number of models and styles. Here are some tips from DAS Demo to help you get started.

1.      Before you buy your first yacht, you need to decide if you’d like a motor boater or a sailor.

2.      Decide how much you want to spend on your new yacht.

3.      Determine the level of luxury and the type of amenities you’d like.

4.      Do you want a new boat, customized to your specifications, or a pre-owned boat?

Here are other important things to consider when buying your first yacht:

• Determine what size vessel you want. Keep the purpose of your purchase in mind. If you’re going to navigate the world or cruise during the summer in the Caribbean or Mediterranean, you’ll need a lot more space than if you just want a recreational boat for the weekends.
• Find a reliable broker. Consult friends, family, and acquaintances for references on a good, honest broker who will have your best interests in mind.
• Ask if you can use the boat before buying. Typically, you can charter larger boats for a period of time.
• Never buy a yacht purely on emotion. Falling in love with the appearance of a yacht is easy. Evaluate all aspects of the vessel and pay special attention to performance, design, reliability, value, maintenance, and interior. Making the wrong pick can end up costing you thousands.
• Make sure you know where you can dock your boat before purchase. Slips are generally in high demand, and you’ll need a well-run and maintained marina to store your boat.
• If you plan on putting your yacht up for charter, be aware that only a small percentage of owners make a profit. Realistically, you can make enough money to pay for some of the expenses of owning and operating a yacht, but it’s unlikely you’ll be able to recoup all your costs.
• Before purchase and during the budgeting process, take into account the miscellaneous costs involved, including storage and docking fees, insurance, maintenance, fuel, crew, etc.