A yacht can be a terrific investment that transforms the way you travel and vacation. But that seaside villa you’ve been eyeing in Italy sure is beautiful.
The allure of a vacation home in a beautiful part of the world, domestic or foreign, is understandable. The chance to escape to your own oasis for a recharge, to experience and enjoy the vibe of a new culture, to do what you want when you want, to indulge and relax.
However, yacht ownership promises all this and the prospect of always having a waterfront view. Think of your yacht as a luxury vacation home allowing you to change up your view and destination at your leisure.
For many potential yacht buyers, this is a big decision they must address: yacht or vacation home? If you only have the budget for one option, which makes more sense than the other? What will bring you maximum enjoyment?
Like most things when it comes to yachting, these are very personal decisions unique to each buyer and their family. Here are a few things to consider when working your way through this kind of decision. Partnering with a trusted broker who can provide expert guidance, answer questions, and address concerns is an important part of the process and highly recommended.
If you’re a homebody and content with staying in one place, then a vacation home may be the right fit. But if you’re a modern-day Magellan who likes to explore and experience all this beautiful world has to offer – or you just get bored easily – a luxurious liveaboard motor yacht might be the perfect fit.
Mountains, beaches, countryside, low country, Atlantic, Gulf. Why settle for just one? Enjoy it all. The quiet towns, bustling cities, secluded coves, and popular beaches are all accessible when your vacation home is a yacht. Satiate all your moods and desires.
When you can take your amazing vacation home with you wherever you go, the world is your oyster. And with the mobility of your yacht, you can eat the freshest oysters in every seaside town you visit.
Budget & Upkeep
It’s important to consider maintenance costs and just how much work you will have in store to make sure your yacht or vacation home is always ready for you to come back and enjoy it. The reality is both options include basic upkeep costs and it’s important to research and compare them.
For a house, you’ll have costs like landscaping, property maintenance, cooling and heating, security, and more.
For a yacht, annual upkeep is vital and has to include both interior and exterior cleaning as well as engine maintenance. There are also marina costs to consider. One big plus for yacht ownership – no annual taxes like on a home.
Generally speaking, yacht owners can expect annual maintenance to cost about 10 percent of the boat’s purchase price to keep the boat in good shape. Ask yourself, “Can you afford annual maintenance or are you able to do it yourself?”
With a yacht, you can also offset some costs by chartering it when not in use. Will you do the same with your property?
The water communicates a sense of freedom, tranquility, and vastness that no land-based vacation spot can replicate.
The pure exhilaration, feeling of nautical serenity, and stimulation of the senses provided by yachting is unlike anything else.
Sure, a vacation home might have a pool and offer nice views of the ocean but it’s nowhere near the same as being on the water. Wouldn’t you love waking up and going to sleep looking at the light on the water, fully immersed in the mesmerizing sunsets and invigorating sunrises?
Test the Waters
Sometimes you want the best of both worlds. If you have your heart set on a vacation home but aren’t sure of your final destination, living aboard a yacht is a good way to figure out exactly where you want to maybe eventually purchase that dream home. This flexibility to experience different places and lifestyles will prove invaluable. And fun. Getting to know communities from the water side can make for a wonderful introduction to the local people and culture.
If you don’t currently own a yacht, chartering is a perfect way to get a taste of what it would be like to live aboard for an extended time without the commitment of buying.
On the flip side, for owners who only use their yachts part of the year, chartering their vessel when not in use can bring a substantial influx of cash to help offset operating and maintenance costs.
This problem, while a good one to have, should be approached methodically and realistically. And it should be fun. Working with an experience broker will alleviate stress and ensure you end up with exactly what you want. The right broker can help you honestly answer these questions, inform your decision with intel garnered through years of experience, and navigate you to the best yacht for your next vacation home.