Time to Buy Your Next Boat

If the arguments for and against your next boat are equal, just do it, says Rupert holmes.

Upgrading to a newer or larger yacht is always an exciting prospect. It’s a gateway to new adventures and the start of a new chapter in life, with the boat invariably becoming a defining factor in family life and how you spend much of your leisure time. Yet so many owners delay unnecessarily, while others suffer buyer’s remorse after the purchase, losing faith in their pre-purchase reasoning and regretting the decisions they made.

Identifying the right boat

For many, a change in employment, family or financial circumstances is the trigger to upgrade or change boat, but there is nothing wrong with change for its own sake. While it’s possible to modernise an existing boat, it can be an expensive and arduous process with no guarantee that the boat will end up easier or more fun to sail. Also, moving to a different brand of boat can open up new social opportunities, such as organised regattas or long-distance rallies.

While owners will obviously start with a wish list for their new boat, being too prescriptive can be counterproductive. “A common mistake is to come with preconceived ideas – for example that the boat must have three cabins, a watermaker, or a freezer,” says Sue Grant, managing director of Berthon International. “It’s better to have an open mind. Look more at where the boat will take you and what you can do with it. Start by looking at lots of boats and don’t bid on a boat you haven’t actually seen.”