Ever fantasied about setting sail on the open sea? Dreamt that it would be your yacht, allowing you to explore the coastlines of some of your favourite holiday destinations.
In recent years, there has been a rise in the total of people choosing to invest in a boat. 2020 saw a 9% increase in boat sales, whilst the year before had a decline in sales. The rising interest and sales in boats indicate that many are considering the benefits of owning a boat.
Owning a boat, especially a yacht, can be seen as a sign of success. Many choose to invest due to having a successful career, and others choose to invest since they are in a financially stable position to do so. The reasons for investing in a yacht are endless. The question many have is buying a yacht a worthwhile investment to consider?
These are some reasons why buying a yacht could be considered a worthwhile investment to make.
Economically Friendly Holiday Choice
The cost and maintenance of a yacht can be costly. With the funds available to invest in the upkeep and maintenance, owning a yacht could be an economically friendly holiday choice. It provides the ability to set sail and explore new areas.
As you will have a mode of transport to explore these new areas, you will not be paying extra to visit said areas. Having a yacht can make going on holiday a little more economically friendly towards your finances.
Range Of Options Available
Many will assume that there are only limited options when it comes to investing in a yacht. However, there is an endless selection of types on the yacht market to choose from. Each yacht ranges in prices, sizes and amenities that you can choose to invest in.
You may choose to invest in a yacht to have a more luxurious experience. When looking for yachts for sale, consider utilising resources such as The Yacht Market. It is an online marketplace where you can find a selection of yachts for sale that you can choose from. Any one of these options could make for a worthwhile investment.
Endless Places To Explore
Being on a yacht will allow you to cruise and explore when sailing across the deep seas. Investing and owning a yacht, you will never run out of new places to visit throughout the year. It is highly likely that you have yet to see a river, bay, lake, ocean, or shoreline in person.
Owning a yacht will enable you to explore these places when you want. It will also allow you to see sights and some of your favourite landscapes from a unique perspective.
Potential To Earn Extra
It is unlikely that you will be spending all of your time on the yacht. For those times when your yacht is left unoccupied, it provides a chance to get a good return on your investment potential. Numerous owners will have their yachts managed by a yacht charter company. When it is not being used, it can be chartered out to others wanting to experience a taste of setting sail on a luxury yacht. It can provide you with additional income throughout the year.
In addition to this, there is a specialised niche in making money by flipping yachts. Choosing to go down this route should be done so with thorough planning. It is an excellent option for those who have a wealth of experience in yacht markets and sales, as they know what work needs to be done to sell a yacht for a profit. Flipping yachts is also a good choice for those with extensive experience maintaining and repairing yachts.
The Bottom Line
Choosing to invest in a yacht does have the potential to be a financially good investment. The possibility of earning extra when you are not using the yacht is a desirable quality many consider. However, investing in a yacht might not be viewed as a financial option for some. Regardless, it is regarded as a lifestyle choice that offers the chance to create a lifetime of memories with those you care about.
These opportunities are what people would view as being a valuable investment. Investing in a yacht could be a worthwhile investment for you; the decision is finding a yacht for sale that you like and choosing whether or not to move forward with your choice.
Ultimately, deciding if purchasing a yacht is a worthwhile investment depends on what you define as valuable. Owning a yacht can hold financial potential, especially if you choose to charter it out to others. However, it might not reap a great return on investments like other choices. Spending time on a yacht with friends and family provides a chance to create endless memories, which some would argue would make a worthwhile investment.
This article is for information and educational purposes only and does not form a recommendation to invest or otherwise. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.