What size shared yacht should I buy?
It’s important to find the right-sized shared yacht for you, your family and friends or any group you plan to yacht with. Finding the perfect yacht for you takes time and research. Too often, someone is back in the market immediately after purchasing their yacht because they quickly realize the yacht is too big or too small. It is worth the time to really think about the following considerations before purchasing.
With shared yacht ownership, you have the opportunity to truly jump up in yacht size, travel with more family and friends, and consider owning a yacht with a higher purchase price and higher annual running cost since you will be sharing the cost.
Considering how big you want to go is an important question. The larger the yacht, the more rules and regulations that apply, the more crew you will need, and the less dockage options.
On the plus side, the bigger you go, the more toys and guests you can carry, the further you can go, and have the ability to have a higher level of service. Other possibilities can include a cinema, gym, office, piano, night club, spa, beach club, or walk around area.
What to consider when choosing which yacht size works for you:
Where and how are you using your shared yacht? Is this a world cruiser, a guest house, day boat, or a second home?
If your goal is serious cruising, you need a 45-meter or larger yacht to cross oceans. You might want to consider different types of boats for cruising in the Bahamas or the Mediterranean. Consider where you want to dock the yacht and what size yacht will fit there. The cost of dockage is another important consideration.
How many guests will you be bringing?
How many guests are you traveling with, and how often? The more people you travel with, the more expensive your operating costs will be.
Take the time to compare three, four, five, or six stateroom yachts if you are unsure. Each extra stateroom is a big step up in running cost, price for purchase, and number of crew required.
Some questions to consider when thinking about your yachting crew:
How many crew members are you comfortable living with for part of the year? How separated do you need them from your living space? Do you need a galley for you and another for the crew? Does the yacht need to be bigger to give the crew a better living quarter? A happy crew means less turnover--and turnover costs money. A great crew is what will make your program enjoyable.
What size yacht do you really want to pay for?
The annual running cost is more important than the purchase price.Things to consider: the cost of a professional full-time crew, insurance, outfitting, fuel, maintenance, improvement projects, dockage, and running costs. At AvYachts, we will go through a detailed budget with you.
Defraying the running cost.
If you are planning on chartering that will mean you will need to make charter-friendly decisions. Chartering a yacht is a great way to offset running costs. With a shared yacht, you will have weeks you cannot use it, and yachts and crew need to keep moving. Therefore, chartering is an ideal solution. The tender, toys, and crew are also more important if you are chartering. The yacht will need to have room to carry the toys and the right general arrangement flow for easier guest service.
Size is relevant, but quality of the yacht is more important.
Quality is a pedigreed yacht with high resale value, a yacht that has been lovingly maintained, a passion project or custom build. A newer year/model is better as well. The yacht may have a higher purchase price, but also a higher resale value and a much lower maintenance cost which is worth a few less feet of yacht. AvYachts can help make sure you’re making the right decision for your future yachting plans.
AvYachts is the expert in yacht share brokerage. Whether you’re looking to sell a share of your yacht to a like-minded partner, or you want to buy a share of a yacht, our dedicated team of yacht brokers and veteran matchmakers is here to guide you every step of the way. Let us match you with just the right yacht, just the right partners and just the right ownership structure for you. Yacht to the fullest without the full costs of ownership.