Buying your first yacht is an exciting opportunity to own a significant asset you can use to go on ocean adventures. To avoid buyer’s remorse, take the time to set a budget and find a model that suits you.
If you’re considering looking for yachts for sale in 2025, check out our guide below for tips on pricing and maintenance.
Setting a Realistic Budget
Before you rush to buy a yacht that’s caught your eye, you should start with a clear financial plan. While yachts vary significantly in price, expect to pay between £20,000 to £100,000 for a small to mid-sized used yacht. New models can cost considerably more, from £150,000 and up, depending on size, brand, and features.
There are also running costs to consider beyond the initial price. You should budget at least 10-20 per cent of the purchase price a year to cover the running costs. Mooring fees, which vary by location and vessel size, typically range from £2,000 to £8,000 per year at a marina.
Maintenance costs, including engine servicing, sail repair, and antifouling, might cost £1,500 to £5,000 per year.
For larger yachts, hiring a crew may be necessary, which can cost over £40,000 annually. Most first-time owners will manage fine by themselves and with family.
Regardless of the yacht you choose, you should always set aside a contingency fund of at least £5,000 to £10,000 for unexpected repairs or upgrades.
Choosing the Right Yacht
Your ideal yacht will depend on how you use it and where you plan to sail. For example, if you plan on coastal cruising, a 30 to 35-foot sailing yacht will be ideal.
If you want to spend more time onboard, look for larger models for a more comfortable experience. As with property, more size means additional rooms and features to use, but at a higher cost.
New yachts come with warranties and modern features, but used models are more affordable. When you’ve narrowed down your choice, always get a survey. A professional inspection will assess the yacht’s condition and value to ensure you’re getting what you pay for.
Don’t skip the sea trial, as it’s the best way to assess performance and identify any issues.
Maintenance Essentials
Regular upkeep is key to maintaining safety on the water and preserving value should you decide to sell in the future. You should stick to a basic maintenance schedule, including cleaning by washing down decks and topsides after each trip to prevent salt damage. Use marine-safe cleaning products to avoid damage to your yacht.
You should also regularly check your oil, coolant, belt, and filters to keep the engine in good condition. Schedule an annual servicing by a marine engineer to keep on top of any issues.
Before going out on the water, inspect the rigging and sails for signs of corrosion or wear. Replace any lines, blocks, or sails that need an upgrade.
Repainting the hull below the waterline every one to two years will prevent marine growth and keep the yacht efficient.
During the colder months, haul out the yacht, drain its systems, and store it under cover or in a marina with proper frost protection to prevent damage.
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