In an ideal world, the aspiring yacht owner would walk down to his nearest marina, hand over his cash, take possession of his shiny new vessel, and cruise the ocean waves as much or as little as he liked with little additional cost. Unfortunately, when it comes to purchasing and owning a yacht, life is not so simple!
Yachts come in various shapes and sizes, from a 30ft sail boat with compact family living quarters up to extensive luxury motor vessels capable of accommodating and entertaining large groups of people for long periods at sea. Obviously, the latter category will come with a considerably higher price tag and ongoing running costs. The reality is however, that buying a yacht of any type is a major acquisition, and, just like the purchase of any other major asset, must be well thought through and planned out to avoid a number of potentially expensive pitfalls.
