Not all of us are regular seafarers, meaning that we do not generally need to know the fine distinction between a yacht and a boat. However, little scraps of knowledge can make a big difference. Who knows? You might even discover that you are into the seafaring business after knowing the subtle benefits of owning a yacht. But before that, one must have a thorough knowledge of what a yacht is!
How is a yacht different from a boat?
Boats are purposeful. You see mariners all around the world use boats for several operations, ranging from fishing to using them on marine bases. However, yachts on the other hand are sea vessels that are exclusively used for recreational purposes. Their usage ranges from water sports, entertainment, cruise, or year-round accommodations.
Yachts have numerous sub-classifications based on their structural varieties.
The general types of yachts are as follows:
A yacht that is propelled by one or multiple motors is known as a motor yacht.
As the name suggests, this yacht uses sails that are propelled by the sea wind.
These vessels use both motors and sails to be propelled. They are hybrid yachts.
A catamaran yacht uses double fiberglass hulls or pontoons that can be efficiently used in shallow waters.
This vessel is specifically designed for carrying out water sports such as fishing or cruising. It has a comparatively faster motor since it requires higher speed and energy.
A luxury yacht has an opulent appearance. It requires high cost and maintenance. This yacht is configured with the latest performance technology.
Depending on their sizes, yachts can further be categorized into super and megayachts. What is the difference, you ask? The only specification that separates a superyacht from a megayacht is that while a superyacht tends to be around 24 meters long, the smallest mega yacht tends to be around at least 60 meters long.
Benefits of owning a yacht
While becoming the owner of a yacht can have different motivations, we want to let you in on the benefits of owning a personal yacht. Buying a yacht can be a pricey business. Mega Yachts are known to reach the price tag of hundreds of millions! Such soaring prices in a rising economy may make you wonder whether buying a yacht is worth it. However, we are here to tell you how exactly you can turn your yacht into a full-blown business program. So hear us out, and decide for yourself.
Charter Yacht Ownership
Setting up and operating your yacht under a charter program (locally or internationally) is a great way to start a yacht business. This program provides you with an opportunity to counteract the costs of ownership. You can also benefit from tax laws.
Since you enter a business sphere by enrolling in a charter program, you can single-handedly manage your yacht or choose to connect with a management company.
You may ask, what exactly is charter ownership? A charter yacht management program is a business program in which the operating costs for your yacht are paid by a reputed charter company. Other costs include maintenance, marina fees, and insurance are also meted out by the company itself.
This company pays the owner a guaranteed boat value of 7-9% starting from the purchase of the boat till the completion of 5 years. This boat value income pays the mortgage, which is the only financial liability of the owner.
This way, buying your desirable yacht becomes easier and you are another step ahead towards fulfilling your seafaring dreams!
Other benefits of owning a yacht include-
1. Frequent sailing
Sailing regularly is more cost-effective since you put your money on ownership than in chartering. The boat should be well-supported with a regular electric flow. Consider attaching solar panels so that you never run out of energy! For this, we recommend Beny Electric for their solar circuit protection designs.
2. Scope for customization
Since you are in control, there is full scope for customization. Be playful with the exterior designing or change the piping system on the inside based on different globe valve types for better freshwater flow. It is entirely up to you!
3. Enriching experience
Spend time with your loved ones on a yacht that takes you around the world. Nothing can be better, isn’t it so?
Do your own research before you consider entering the yacht chartering market. Choose a reputable charter company lest you want to waste your precious, hard-earned money.