For many of us, spending time on the open sea is like living a dream. We aspire to sail around the ocean in a vessel suitable to keep our families and friends comfortable while we move from port to port.(Things to Keep in Mind When Buying a Boat or Yacht)
However, this dream can turn into a nightmare if we let our emotions get the better of us and make foolish choices when purchasing a boat or yacht. The economy has recovered substantially in the decade since the financial crisis, and many people are now considering making their first boat purchase or upgrading to a yacht.
As an experienced aviator and sailor, Farhad Azima has seen his fair share of fine vessels – as well as some that would be considered less than sea-worthy. Here are some things that Farhad Azima encourages people to keep in mind when buying a yacht or boat.
Anyone who has owned a boat or yacht in the past understands how costly it can be. However, with annual recreational boat sales increasing steadily, there are thousands of first-time yacht owners out there.
For people new to boat ownership, it’s important to remember to include the long-term costs into their initial purchase decision.
The initial purchase price aside, upkeep and maintenance can cost you a pretty penny – particularly if you’re a yacht owner. Just like automobiles, boats and yachts decrease in value quickly in the first few years of their useful lives.
It’s important to keep in mind that sea air and salt water can corrode metals and degrade plastic and rubber components of your boat or yacht, and it is your responsibility to prevent and repair corrosion when it occurs.
Altogether, the U.S. government estimated the direct costs of metallic corrosion in all industries at $276 billion between 1999 and 2001.This amounted to over 3% of the nation’s gross domestic product – a striking figure from anyone’s perspective.
The U.S. shipping industry spends nearly $1 billion each year on maintenance and repair, and corrosion-related downtime costs the market an additional $800,000.
As a result, keeping up with best practices in corrosion prevention can save you big in the long-run. However, marine environments are very hard on metals, plastics, and rubbers. Salt causes corrosion on just about any surface, so be sure to consider the cost of normal wear and tear when deciding to purchase a boat or yacht.
This requires proper maintenance and regular inspections from a professional, so reach out to service providers in your area to get an idea of what you can expect to pay for regular maintenance.
Addressing corrosion and normal wear and tear are a normal part of owning a yacht or boat. However, poorly constructed boats can let in water. Leakage is a major issue for any vessel, and even the smallest leak can completely ruin your boat or yacht if they go on unrepaired.
Some unlucky boat owners get leaks that simply cannot be repaired, and their vessels quickly degrade despite their best efforts to prevent the damage.
Windows and window frames in sea vessels should be constructed out of marine aluminum. However, some less scrupulous ship builders use cheaper aluminum window frames designed for recreational vehicles. This is something that you must avoid if you’re purchasing a used or refurbished boat or yacht.
Boats and yachts are beautiful, and it can be very tempting to purchase the coolest and trendiest design. While you may seem like the hippest person in the boatyard for a few years, these trends often fall by the wayside – especially if they are impractical.
As a result, it’s prudent to keep an eye on quality when you’re buying a boat or yacht. This means avoiding boats and yachts with lots of molded plastics, plywood, cast aluminum, or painted metals.
All in all, if you do your research, you will be able to find a quality marine vessel that will serve you well over the years. As an experienced yachtsman, Farhad Azima has seen many boat owners succumb to shortsightedness when making their initial purchases.
However, by keeping an eye on the long-term costs and quality of your boat or yacht, you can set yourself up for success as you embark on your seafaring journeys.
Things to Keep in Mind When Buying a Boat or Yacht