Luxury yacht upkeep alternatives
Owning a yacht is something many people fantasize about, however it can be something of a pipe dream for most because of the cost involved. Of course, even if you do find yourself with money to spend on a yacht, you may not want to commitment that comes with it – you will have to pay for the yacht to be moored, maintained and repaired for as long as you own it.
If you’re someone who dreams of having the freedom to use their very own boat but doesn’t want or can’t meet with the cost or maintenance expectations, then fortunately, there are other options open to you. Here we look at what you can do:
Charter a Yacht When You Want It
Chartering a yacht is the easiest solution when it comes to getting the exact type of boat you want, when you want it and where you want it. The advantages of this are that you can travel anywhere you want, which you may not be able to do with the time you have on your own yacht, and you can get a vessel that has the facilities you need.
If you want to go and sail around the Mediterranean, you can charter a yacht there and fly out, rather than worrying about whether your own boat can make the trip and needing to take extra time to get it there. You can plan a yacht vacation with all of your friends, or take your family, and you will be able to make sure that there is plenty of room for everyone.
You can also charter yachts with a crew, so you don’t have to worry about having the right skills and qualifications to sail the yacht yourself.
The downside of this is that you don’t own anything, and are simply renting out the boat. If you want to feel like it is truly yours, at least while you are on it, and have an asset that lasts, then the next option may suit you better:
- photo – Tom Purves
Buy Part Shares in a Yacht
Part owning a yacht is usually known as fractional ownership, and it is an option offered by all kinds of companies all over the world on different sized yachts.
The idea is pretty similar to the timeshare concept in property ownership. You but a certain number of shares in a yacht and you then get exclusive use of it for a percentage of the year. Depending on how much you want to use it, this could just be a week or two each summer for an annual vacation, or much more.
Most of the time, the company that arranges the fractional yacht ownership arrangement will also take care of all of the maintenance, and you will simply pay a share of the costs of this along with your fellow owners.
The main disadvantage of this is that you will be somewhat limited as to where the boat will be and where you can take it, and you will also be unable to customize it. Any changes to the yacht will need to be agreed by all owners, and in many cases the company in charge will prevent any personalization at all so that these complications are avoided.
- Today’s featured contributor, Robin Ding, is a yacht expert at Sea Net, an established name in yacht rental industry. In his spare time, Robin likes to write blogs on popular yachting destinations and yacht charter companies.