If you’ve been dreaming of sailing the open seas in Luxury, then a yacht is the ultimate symbol of freedom, adventure, and luxury.

Buying a yacht is your gateway to extravagant living. But buying your first vessel can be overwhelming. To help you set sail on the open waters, this article will provide you with everything you need to know when buying your first luxury yacht in the USA.

Why should you buy a yacht?

Before we sail into the specifics, let’s talk about why you should buy a yacht. But not just any yacht… a luxury yacht.

Owning a yacht comes with an entirely new lifestyle. It’s the perfect vessel for private retreats and family vacations. You can sail wherever and enjoy the open water en route to your destination. Whether a weekend in Miami or Monaco, or a get-away to Europe, with a captain and a luxury yacht, you can explore to your heart's content.

Your yacht is also the perfect networking opportunity. You can take her out (assuming it’s a she) on the open waters to entertain clients and guests, served with a glass of champagne and your favorite seafood. What’s not to love?

How to find the right yacht for you

Finding the perfect yacht can take some time. There are several factors to consider, from the size of the yacht to the style, the amenities, and what budget you have available.

You will also need to consider how you plan to use the yacht—do you intend to sail far or are day trips more your cup of tea? When purchasing your first luxury yacht, it helps to work with a professional.

The Bespoke Life team can help you find the perfect yacht—we specialize in every aspect of the yachting experience, from finding the perfect vessel to customization.

How much is the average yacht in the USA?

The price of the average yacht varies massively depending on the age of the yacht—whether it’s a new or an older model—the condition, the size of the boat, and the amenities on and off the yacht.

Typically, entry-level yachts begin between $200,000 and $900,000. But luxury yachts can exceed upwards of $10 million dollars. For your first yacht, you can expect to spend somewhere between $500,000 and $4.5 million dollars.

Don’t forget about the hidden costs of owning a yacht

Yes, you have the upfront cost of owning a yacht, but there are also hidden costs. For example, yacht maintenance, cleaning and inspections, servicing and hull repairs, and more.

Depending on the yacht size and the amenities, you may also have staff costs. For example, you can hire catering and hospitality staff, a captain to steer the ship, and more.

Furthermore, you will also want yacht insurance in the rare case that something happens to your vessel at port or at sea.

How to fund a yacht purchase

There are numerous ways to make a luxury yacht purchase. You can go through your yacht dealer, take out a bank loan with a marine financing specialist, or you can pay by bank transfer.

If you’re not quite ready to purchase a luxury yacht, you might want to consider fractional ownership.

Consider yacht charter first

Before buying a yacht, you may wish to charter a vessel to gain a better sense of what it would be like to own a yacht. You can take a day trip or you can charter it for multiple days and take a proper trip to get a feel for being at sea.

If possible, we’d also recommend taking out the yacht you want to buy before purchasing as well. As expected, this will give you a better understanding of the yacht and whether or not it’s the right vessel for you.

Get help buying your first luxury yacht

Buying your first luxury yacht can be complicated. For starters, the price varies so drastically that unless you know what to look for, you don’t know whether or not you’re getting a good deal.

When you work with Bespoke Life, we can show you a variety of luxury yachts. We know what to look for and what’s a good deal—we hold your hand through the entire process, from idea to your first trip at sea with your crew.

FAQs

Are there financing options available for yacht purchases?

Yes! There are various financing options for yacht purchases and leases. There are also fractional ownership programs to explore if you’re not yet ready to buy a luxury yacht just for you.

Should you join a yacht club?

There are several benefits of joining a yacht club. For example, you will gain access to a network of new people. You can network with other yacht owners and attend social gatherings and other exclusive events. Owning a yacht might just help you make a leap forward in your business!

Are there tax implications of owning a yacht?

There might be some tax implications of owning a yacht, including sales tax and property fees. However, for legal and tax advice contact a maritime attorney.

luxury yachts in the USA

A Beginner’s Guide to Buying a Luxury Yacht in the USA