Pros and Cons of Yacht Ownership

Benefits and Challenges of Owning a Boat

Boats have topped the wish list of many people in the post-pandemic world. Whether your goal is to own a small fishing boat, a fast sport vessel, a large sailing yacht, or a sailing catamaran, the boating lifestyle has grown in popularity as everyone seems to want to live a more adventurous life. If you, too, have considered purchasing a yacht, you should first run through a comparison of the pros and cons of owning a boat.

If you are hesitant to take the step toward becoming a yacht owner due to the potential challenges that traditional yacht ownership presents, we offer a solution to make owning a boat more accessible and far easier. Navigare Yachting’s charter management programs offer a hassle-free avenue to enjoy the benefits of yacht ownership while earning an income to offset the cost and leaving the work and management to us. When you place a boat in our fleet, it will be part of our charter operations while you are not using it, which means it will bring you a source of income and always be looked after by our professional teams.

Pros of Yacht Ownership

Owning a boat can be an exhilarating proposition, and for some, it becomes a passion.

Family time: Boats have a way of bringing families together for concentrated togetherness. Whether you want to teach young kids to love the ocean or get teenagers off their phones and into the great outdoors, nothing will create quality time faster than a boat. Couples benefit too, whether enjoying retirement or just trying to carve out time for one another in a busy world. 

Friendships: Boats are some of the most social places you can find and great for entertaining. Weekends and holidays make a perfect time to be on the water, or you can just put together a happy hour and have cocktails aboard in the marina.

Variety: There are many things you can do with a boat. You can spend a weeklong vacation aboard a yacht, or you can sail to nearby islands for the weekend. You can bring dive gear aboard and explore beneath the waves, or you can perfect your sailing skills. There’s always a new cove to explore and a new skill to learn when you have a boat.

Community: Boats come with a built-in social life even if your family and friends aren’t much into the activity. Boaters love to share everything from skills to maintenance tips to wine. You’ll never be alone on a dock, and you’ll be making new memories all the while.

Health: Boating brings fresh air and physical activity into your life. If you’ve been cooped up in front of Zoom calls, there’s nothing like a breeze on your face to change your perspective. Speaking of which, boats have a way of dissipating stress and balancing life for maximum enjoyment. They are very good at keeping us healthy and at peace in a stressful world.

Spontaneity: Nothing compares to the feeling of freedom of having the option to jump on your boat and head out for a few hours or days when the opportunity presents itself. Unless you’re making a passage, it doesn’t require much preparation to slip the dock lines and have a refreshing last-minute adventure.

Education: On a boat, you’re always learning. Whether you’re learning how to sail, how to navigate, or how to change an impeller on the engine, you’re always honing new skills. Some people get a kick out of learning to be self-sufficient by maintaining their boat systems, while others become so enthralled with navigation and boat handling that they go on to acquire a captain’s certification.

Sharing: Once you’ve acquired expertise, it’s a joy to share it with others. You may be able to help a new boater learn close-quarters maneuvering or work with a neighbor on his engine. There’s intrinsic value in personal growth and the sharing of knowledge with others.

Investment: Buying a boat can be a financially sound decision, especially considering that a boat is an investment in your lifestyle and well-being. Every hour you spend aboard pays dividends in stronger relationships, better health, and unforgettable experiences. You’re investing in family time, in friendships that deepen over shared adventures, and in the freedom to escape whenever the mood strikes. You’re also investing in yourself when learning new skills, gaining confidence, and finding balance away from life’s constant noise. In the end, the true return on owning a boat isn’t merely measured in currency, but in the memories, health benefits, and connections it brings.

Cons of Yacht Ownership

As wonderful as boat ownership may sound, there are a few potential cons to consider.

Skills: Traditionally, private boat ownership requires some boating skills to manage the one you buy. You’ll have to be able to drive one, sail one, dock one, fix one, and clean/varnish one. You may also need to pass a boating license in your state and all the above take time and money.

Luckily, owning a yacht in Navigare Yachting’s charter ownership program requires none of the above, as your yacht will be professionally managed at all times, and you’ll always have the option to have a professional skipper onboard when you sail.

Commitment: Private boat ownership takes time and not just the actual hours of enjoyment. You’ll need time to maintain and clean it, and even if you pay someone to do that, it will be your time spent managing the process. Also, depending on where you keep the boat, you may not be able to enjoy it year-round, which means it will sit unused, and that’s when things break on their own. Many traditional boat owners spend much less time on their boat than they had originally planned because of the massive commitment that traditional boat ownership requires.

Placing your boat in our charter management programs means you leave all of that hassle to our professional team. Your job is simple: enjoying all the benefits that yacht ownership offers without spending time and money managing it.

Maintenance and Repair: Boats require lots of maintenance and constant cleaning because they’re moving platforms in a harsh environment. If you have the skills, you can take this on but at the expense of other things you may want to do. If you don’t have the skills, you’ll need qualified marine contractors who don’t come cheap. Also, the more equipment you have on your boat (electronics, watermaker, generator, etc.) the more maintenance you’ll need.

When you place your yacht in Navigare’s ownership program, you know that your yacht is always professionally cared for. Depending on the program you choose, the cost of maintenance and repairs will either be covered by us or by you, as the owner, in exchange for a revenue-sharing setup.

Moorage: You’ll need to keep the boat somewhere, and for larger yachts, that will be in a slip in the water. With the exploding interest in boating, marinas have grown tight and expensive, and it’s hard to find a slip just about anywhere. If you do find one that’s not close to you, you’ll have to add in the time and expense of commuting to your boat.

Navigare Yachting has bases in several attractive destinations across the globe, from the British Virgin Islands and the Bahamas to the shores of the Mediterranean in Greece, Croatia, and Palma de Mallorca. When you buy a yacht through our charter program, you’re guaranteed a docking spot in the destination of your choice, completely managed by our local team.

Owning versus Chartering

Another way to go boating is owning a boat one week at a time, and that’s called chartering. When you charter or rent a boat, you have all the fun without worrying about maintaining, slipping, or cleaning it. You’ll enjoy the boat for a week or however long you want and then hand it off to the base and walk away without so much as hosing the salt off it. It does take some planning to charter, so it’s less spontaneous, but it also represents far less commitment. And when you charter a yacht in an exotic location like you can with Navigare Yachting, you enjoy a destination where your boat would never venture.

The Happy Medium: Buy a Boat in a Charter Program

Charter yacht ownership can offer you lots of perks and is much simpler than you think. A charter company like Navigare Yachting provides turnkey maintenance and opportunities for you to sail extensively and get paid while you do it, offsetting the cost of ownership. Please read our blog Why Buy a Boat in a Charter Program to learn more about the benefits of charter yacht ownership.

To own or charter: make the decision based on your personal sailing preferences, lifestyle goals, and budget. Either way, you’ll enjoy the freedom of spending time on the water on your own terms, and that’s priceless.