How much does it cost to own a yacht? The truth is that there is no one answer. Just as there are many different styles, sizes, and amenities on a yacht there is also great variance in the cost of owning one. Luckily there is a general way of evaluating the cost of purchasing and maintaining a yacht. Yacht Management South Florida Inc., providers of the best yacht management services in all of South Florida, have made this quick guide to make understanding the total costs of ownership simpler. Our team has years of experience in the field and has the expertise necessary to provide reliable information for anyone considering joining the yachting community.
How Much to Own a Yacht?
When looking at the yacht’s cost of ownership, there are many different variables to consider when analyzing what the initial costs will be. The main one to consider would be the size of the vessel intended to purchase. Unlike with other types of vessels, how much does it cost to own a yacht cannot be calculated by multiplying the size by the average cost of a ship per foot. Yachts are different from any other type of boat, and their pricing reflects that. A 40 ft yacht could range from anywhere from $300,000, all the way up to over $800,000. While it is true that the cost of owning a 65-foot yacht would be more than that of a 40-footer, if the larger vessel is much older, then it could actually be far more affordable. The yacht’s cost of ownership may fluctuate, but a great way of finding the right fit would be to choose a specific year and adjust the sizing within that year to fit what you are willing to spend.
Guide to the Cost to Maintain a Yacht
When asking how much it costs to own a yacht, always be sure to include the pricing apart from the initial purchase. The cost to maintain a yacht can grow higher and higher as more and more things are required, and hiring a specialist for each and every service can grow expensive. When maintenance of the vessel is done this way it is estimated that it could cost anywhere from 15-25% of the initial purchasing price per year to maintain your yacht. Luckily, there is a way to make the cost of maintaining a yacht lower while also ensuring that you are getting better service while you’re at it.
Our South Florida Yacht Management Services
How much does it cost to own a yacht? When you team up with our team of experts, far less. Contact our team today to start lowering the cost of maintaining a yacht you own by stationing it at our Fort Lauderdale boatyard and keeping your yacht upkeep costs affordable. Also, be sure to read some of our other articles to learn more about all things yachting.