The benefits of chartering a yacht far outweigh the advantages of yacht ownership when you consider the costs and obligations associated with purchasing one. Owning a yacht is an expensive and often fruitless investment that only makes sense if you spend several months a year on the water. Let’s look at 5 monetary advantages of chartering a yacht versus buying one.
Just download this infographic revealing the true cost of boat ownership.
1. The captain and the crew are included in the price
While 80% of charters are bareboat (just the boat, with no crew or skipper) you can modify your experience for the budget and experience you want.
With a professional and experienced captain and crew in charge of maintenance, cooking, cleaning, navigating, and other functions of the trip, you can focus on relaxation
When the skipper and crew are included in the charter, you aren’t responsible for hiring them or maintaining their salary. It’s all included in the price of your rental. With a skippered yacht, you won’t need to worry about your skill level or the qualifications required for you to skipper the yacht yourself.
And the company you charter with will use its relationships with service providers to find you a professional crew, saving you the hassle
You can tailor your experience by asking the chartering company to include a nanny or dog sitter for your trip, so you can enjoy a worry-free vacation
where everyone is kept happy and safe.
On superyachts and megayachts, crew areas are clearly separated from guest areas. Professionals are always courteous of their guest's privacy, and having a crew onboard will truly give you the luxury vacation you’ve always dreamt of.
2. Pay only for what you want
Chartering gives you the option to choose the amenities, style, and size of a vessel for a particular adventure without a long-term commitment to any particular boat. Book a motor yacht
or a sailboat voyage and compare the unique experiences. Sailing yachts are graceful
on the water, but catamarans offer more space, while motor yachts can get you around more swiftly.
Reserve a superyacht or megayacht for a large family vacation or opt for a more romantic getaway with a smaller option. Every adventure you take on the water can be a new experience when you charter.
Your yearly vacations are also more flexible when you don’t have the responsibility of yacht ownership looming over your plans. You can take long voyages or plan a short trip with a day charter
When you don’t own a yacht, you can be more comfortable booking vacations on land as opposed to feeling obligated to be on the water. This can save you money and give you more freedom
throughout the year.
3. Chartering prepares you for yacht ownership
If you’re truly enthusiastic about owning a yacht, you can learn much from the chartering experience. Chartering different boats with a professional captain and crew will help you learn valuable lessons about the ins and outs of owning a vessel.
While a captain steers and plans itineraries, they can also share their professional knowledge and advice. A skipper can educate you on driving and maintaining a boat, as well as understanding the regulations of various ports and harbours.
You can learn how to navigate and plan around unexpected problems and repairs while not having to pay for the repairs yourself
. This is a great way to gain experience before you buy.
Having the opportunity to travel on various boats will help you learn what you like. So, when you do decide to buy, you will know exactly what you’re looking for and not waste time or money on something that won't work for your lifestyle.
4. Chartering is a better investment
Yachts depreciate rather quickly, losing about 19% of their value
in the first year and losing nearly 50% of their value
after seven years.
When you decide to charter instead of buy, you can experience the latest yacht technology without the worry of losing more money than you paid for.
While you won’t make a profit when you charter, you will make memories that will last a lifetime without continuously leaking money throughout the year on maintenance and other boat ownership costs
5. Chartering is more budget-friendly than buying
A new 12-meter, 4 cabin yacht can cost €2500 per week, while smaller sailing boats can be as low as €1500 per week in the low season.
Chartering a crewed 15-meter sailboat can be as low as €800 per day or €6,000 per week, while larger options can range from €8,000 to €30,000 per week. Luxury superyachts and premium megayachts range between €80,000 to €100,000 per week.
Having more affordable options makes chartering more accessible to people who may not have the means of purchasing a yacht, but have the dream of experiencing one.
Travelers can pool together with friends and share the cost of a yacht vacation and experience luxury without having to pay for it all themselves
When looking at purchasing a yacht you can expect to pay anywhere from €250,000 to €15,000,000 depending on the size, model, and age of the vessel. And common wisdom is that it will cost you around 10% or more of the original price of the yacht to run it annually.
The charter price covers the rental, including the captain and crew. Additional fees include provisions, gasoline, communication, transfers, and harbour fees.
What is the true cost of owning a boat?
When looking to buy a boat of any kind, it’s vital that you take your time and do your research before you jump right in, or it could cost you big time.
Like most machines, if a vessel is left sitting in the water too long, it will become susceptible to numerous problems, like corrosion and barnacle growth. Frequent maintenance is essential to ensure your boat runs well and remains safe.
Problems can occur at any time, even with a new boat, so it’s important to understand or have a professional on board with you to diagnose issues before they cause major problems.
Here’s an infographic that will give you more insight into the true cost of boat ownership.
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