Buying a boat is an exciting experience, whether it’s for weekend cruising, racing, or long-distance adventures. However, it’s also a significant investment so careful preparation and expert guidance are key to a smooth and rewarding experience – especially for first time buyers.
We spoke to the expert team of yacht brokers Ancasta to create this comprehensive guide to help support you through every step of the process.
Appoint a professional yacht broker
The first step for any boat buyer should be to appoint an accredited yacht broker. Buying through a reputable broker like Ancasta offers a host of benefits. Experienced brokers take time to fully understand your requirements before conducting a tailored search to find the most suitable yachts on the market, including listings that may not be publicly advertised.
With extensive market knowledge, a professional broker can advise you on realistic pricing, guide negotiations, and ensure that any offer made is both fair and likely to be well received by the seller. Importantly, they also take care of all the paperwork, from verifying ownership to handling VAT documentation and title checks. During the transaction, funds are securely held in a designated Client Account, protecting both you and seller until the sale is complete.
Should you wish to explore finance options, professional brokers should be able to present various plans and help identify the most suitable route based on your personal circumstances.
Research the right kind of boat
Before viewing any boats, it’s important that you understand the different types of yachts available and how each one aligns with their intended use. Whether considering a sailing yacht or motorboat, monohull or multihull, you should consider factors such as size, number of cabins and bathrooms, interior style preferences, desired speed, cruising range, and whether you plan to sail shorthanded or with a crew.
Set a budget
Once you have a clear idea of the type of boat you’re after, the next step is to set a realistic budget. The cost of buying a boat varies widely depending on size, age, condition and specification. Your broker can advise on what to expect for a given budget and help you understand what you’re likely to find in your price range.
Consider finance options
Given the scale of investment, many people choose to spread the cost of their boat purchase using a finance plan. Through your broker, you should have access to marine mortgages from trusted lenders with extensive experience in boat financing.
Alternatively, if you’re looking to upgrade you may opt for a part exchange – where your broker offers to purchase your existing boat and apply its value directly to the cost of the new one – simplifying the transaction and saving time.
If you’re interested in generating income from your yacht, you might explore charter investment opportunities. Ancasta specifically works with Navigare Yachting to offer several charter programmes, which allow owners to offset costs by making their boat available for charter use when not in personal use.
View boats online and in person
It’s always advisable to begin your search online. Online listings tend to be detailed and often include high-quality photos, 3D walk-throughs, and video tours to help you get a real feel for the boats.
Once you’ve complied a shortlist, the next step is to arrange in-person viewings. Visiting the boat gives you the opportunity to walk through the space, inspect the different systems, and ask any questions about its condition and history. Your broker would usually accompany you on the viewing to ensure everything goes smoothly and see that key checks are not overlooked.
Make an offer
When you find the right boat, you can work with your broker to submit a well-considered offer. While some sellers are open to negotiation, it’s important to strike a balance. This is where a professional broker’s skills come in – they use their experience to guide the offer, ensuring you pay a fair price while increasing the chance of your offer being accepted.
Arrange a marine survey
For used boats, it’s recommended that all offers be made subject to a marine survey. A professional survey, ideally carried out by a member of the Yacht Designers and Surveyors Association (YDSA), helps to verify the boat’s condition and can uncover hidden defects or maintenance needs. This not only gives you peace of mind but also plays an important role in securing insurance or finance.
Organise boat insurance
Boat insurance is an essential part of ownership. You will need a policy that covers not only accidental damage and loss but also legal liability for guests and crew. If your boat will be used commercially or chartered, additional cover will be needed. Most professional brokers work with several marine insurance providers and to be able to connect you with the right experts to arrange suitable protection for you and your vessel.
Complete the paperwork
Once your offer is accepted and any survey results have been reviewed, the formal transaction begins. You will typically be required to place a 10% deposit into the broker’s secure Client Account. The broker then gathers all necessary documentation, verifies legal ownership, and ensures any loans or encumbrances are settled.
When everything is in order, you transfer the remaining balance to the same secure account, and ownership is officially transferred to you on an agreed date. The seller will then provide all relevant paperwork, going back at least five years.
Commission a new boat
For you’re buying brand new, it’s possible to customise everything from hull colours and interior finishes to electronics, sails, and appliances. And if you’re buying through Ancasta, its commissioning team manages the process for you from start to finish – ordering parts, arranging technical installations, and carrying out quality control checks to ensure the boat is delivered to you exactly as specified.
Plan berthing or storage
Before taking ownership, you should arrange where your boat will be kept. Depending on the location and type of vessel, options include marina berths, river pontoons, mooring buoys, or even storage ashore with seasonal launching.
Schedule maintenance
All boats, whether new or used, require ongoing maintenance. Routine tasks might include engine checks, cleaning, sail inspections, bilge checks, battery charging, and servicing of key components. Seasonal jobs such as antifouling, rigging checks, hull polishing, and servicing of heads or through-hull fittings are also essential for keeping the boat in top condition.
Some owners enjoy handling maintenance themselves, but many prefer to use a professional service, such as Ancasta Yacht Services (AYS). The expert refit, repair and maintenance team at AYS offers expert yacht care which can be completely tailored to each owner’s individual needs, ensuring everything runs smoothly behind the scenes.
Planning refits or upgrades
If you’re buying a pre-owned boat, you may want to carry out upgrades or modifications after the purchase has been completed. Common projects include teak deck restoration or replacement with a synthetic teak like Flexiteek, installing air conditioning, updating electronics, or fitting new hatches, thrusters, or galley appliances. It’s important access skilled technicians and marine professionals, like the team at AYS, to ensure any work carried out is completed to the highest standard and backed by a warranty.
Organise training for skipper and crew
Whether you’re new to boating or simply looking to boost your confidence with a new yacht, training is always a worthwhile investment. Courses are available throughout the UK and overseas, covering everything from basic boat handling to advanced navigation.
If you’re enjoying time abroad you need to be aware of safety regulations, certification requirements, and any specific qualifications required when sailing internationally or operating commercially. Your broker will be able to help you with this if you’re unsure.
Handover day and beyond
Once all the paperwork is signed and the funds have cleared, it’s time for handover. If you’ve bought a brand-new boat, you should expect a a full handover day with a professional technician to walk through the boat’s features and systems.
A test sail may also be arranged to ensure everything is functioning as expected so you can set sail with confidence.
There are many considerations when buying a boat, but with the right support, the journey can be just as enjoyable as the on-water adventures with that follow. Whether you’re a first-time buyer or an experienced owner looking for your next yacht as the type of boat you do changes, careful planning, expert advice, and trusted guidance from a professional broker will help you navigate the process with ease.
