24 Apr Is Buying a Yacht a Good Investment? What You Need To Know
If you’re thinking about buying a yacht, you may be wondering if it’s a good investment. Can you make money back on your investment if you purchase a yacht? Is buying a yacht a good financial choice? In this article, Chi Yacht Refinishing will explore this subject, and help you understand if a yacht is a good investment.
Yachts Are A Depreciating Asset – And Expensive To Maintain!
Yachts are not like a house, which tends to appreciate and gain value over time. They’re more like a car. Cars depreciate – that is, they tend to lose value when they get older, and become outdated, less reliable, and less desirable.
Note that this is not always the case with yachts. Some yachts, when properly maintained, can appreciate in value, or at least keep the same value. However, you are still going to be spending a lot of money on maintenance. You can expect to spend somewhere around 10% of the value of a yacht in yearly maintenance and running costs – and this doesn’t include the cost of a crew. Further services like major repairs and yacht refinishing can also be very expensive.Because of this, your yacht will cost you a lot of money to own – even if it does end up appreciating in value, or maintaining the same value.
Chartering Your Yacht Is A Good Way To Make The Most Of Your Money
Just because your yacht won’t necessarily appreciate in value doesn’t mean you can’t make money from it. If you only use your yacht for a few weeks or months per year, you can hire a yacht management company and chartering company to charter it out on a temporary basis.
The charter company and management company will take a cut of your profits, but you can still make some money from chartering your vessel, which can help you break even and pay for maintenance and running costs.
The Value Of A Yacht Can’t Be Measured In Dollars And Cents
Yachts are not the best financial investment. If your only goal is to make money, there are far easier ways to do this than purchasing a yacht – investing in the stock market or real estate, or starting a business, just to name a few.
But the true value of a yacht cannot be measured in financial terms. Owning a yacht gives you freedom, peace of mind, and a place where you can relax in luxury and style – and it’s impossible to measure those benefits in terms of finances.
You don’t buy a luxury supercar because you want it to appreciate in value – you buy it because you want the experience of driving the best vehicle the world has to offer. The same is true of a yacht. You buy it because you want the experience of sailing the seas in luxury – and relaxing with your friends and family. And the return on that investment? It’s priceless.