It has always been your passion to be out on the water. Your favourite pastime is spending time on the ocean. In order to enjoy this form of recreation, you have always had to charter a yacht or rely on others’ generosity. Your dream of yachting with your own boat has always been out of reach until now.
Reaching the level of financial stability that you can afford your own high-end vessel like a yacht is a huge achievement, but purchasing a boat is not like buying a car. There are many factors that need to be taken into consideration, after all this is a considerable investment.
Arming yourself with the right knowledge is imperative and these are the key factors you will need to consider when hitting the market to purchase your own yacht.
Enlist The Services of a Yacht Broker
Finding the right yacht for you can be a daunting task, it is a significant investment after all. A yacht broker
is highly recommended to help navigate this process and ensure your investment is a good one.
Yacht brokers assist with buying or selling boats by sourcing possible yachts and buyers, negotiating prices, marketing vessels for sale, assisting buyers and sellers with all of the relevant legal compliance, and providing expert industry advice. Sometimes a yacht broker represents both buyers and sellers in a transaction, negotiating a fair deal for both.
An experienced yacht broker representing your interests will pay close attention to your needs and wants. Many of them have been boating for years and are knowledgeable about different types of boats and their features. In addition to assessing the boat’s value, they will also ask you important questions so you can determine whether the boat is right for you.
If you wish to apply for finance, then your boat broker will be able to advise you on the very best course of action, which might give you an edge when negotiating a price. Furthermore, they will be familiar with marine insurance, surveys, legal compliance, and can recommend lenders who specialise in marine loans.
Ensuring You Have The Right Marine Licence
If you are new to yachting, you are going to need to complete all of the correct training to ensure you can operate your yacht legally and safely. Most states and territories require a written and practical test. Here is a breakdown of the licensing requirements depending on which part of Australia you are in:
- Queensland: You must be 16 and over to carry a marine licence for vessels with a power of 4.5kW or higher. You will need to complete a BoatSafe course and pass your licence test at a Department of Transport and Main Roads
![]()
outlet. - New South Wales: You will need practical, logged experience on the water with a qualified skipper (at least three lessons) or boating training with a company registered with the state government. Then you will need to complete a theory test to ensure you know the functions of your boat and all of the safety requirements. More information is available here
![]()
. - Victoria: You only need to be 12 years old and the only requirements are an eyesight test and a theory test.
- Western Australia: You can complete both your practical and theory tests with a registered boating school and get a skippers ticket for life.
- South Australia: You will need a marine licence no matter how powerful the vessel is and you must be over 16, although special permits are available for children aged 12-16 as long as they are under the supervision of an adult. Only a theory exam is required.
There are also differing requirements in Tasmania, the ACT and the Northern Territory.
Mooring and Berthing
This is a highly important component of purchasing a yacht that can sometimes be left until last. You are going to need to source a marine berth or permanent docking because a yacht is unlikely to fit on a trailer around the side of the house.
Availability and prices vary, so it is vital to take care of this process early so you have a place to dock your brand new pride and joy. Your yacht broker can assist you with this process.
Insurance
Policies will vary depending on your location, history of boating, the type and power of the vessel and other variables. When you are choosing a policy, ensure that you are getting one that covers your boat on and off the water, also covering acts of god like storms, vandalism, fire and theft. This is another process your yacht broker can help you with.
Schedule Regular Servicing
Just like a car, you need to have your yacht serviced. The difference is that failing to keep up with the upkeep of your yacht can cost you considerably more. Look after your investment and book a reputable marine mechanic to inspect your vessel annually or after every 100 hours on the water – whichever comes first.
The post <span style=color:#e2bd64;background-color:#222222;> SPONSORED </span> From Novice to Navigator: How To Get Started in the Wonderful World of Yachting appeared first on CALIBRE.