When you’re considering buying a Superyacht, you’re definitely in for an exciting and luxurious lifestyle. However, owning a Superyacht also comes with quite a few things that require consideration. In this article, we’ll explore some of the key considerations you may want to prepare for in your life as a Superyacht owner.
- Planning Your Itinerary
I worked on Superyachts for almost a decade as crew and a constant source of frustration for owners was something I wished was presented to them from the get go. Yachts are complex beasts, and any operation requires planning and execution with, truth be told, a meticulous attention to detail. One of the biggest adjustments you’ll need to make as a Superyacht owner, if you want to be somewhere on time and on budget, is planning your itinerary and communicating it well in advance to your Captain and crew. If you can decide, with time to spare, where you want to be and when, you’ll greatly reduce the stress on your crew and your vessel, and believe it or not, yourself. Many owners love the idea of making their decisions at the very last second, and having unlimited options seems to be the utmost luxury, but the juice is rarely worth the squeeze.
Planning an itinerary starts with your personal preferences, then you would of course take into account the time of year and the weather conditions. More and more often there are limitations or at least adjustments that may require attention for any local regulations or permits required for your destinations. You need not be tied down with the details unless you want to be, as your crew can take care of the logistics and ensure that everything runs smoothly throughout your trip, allowing you to focus on your enjoyment and leisure. Just give them plenty of room to accomplish your desires.
- Hire a Crew
Even if you have experience operating yachts, it’s essential for your safety and comfort, to hire a qualified crew to manage the vessel. The quantity of crew will range in size of course, depending on the requirements of the yacht but generally you would start with your Captain, and increase the amount of professionals you have as your vessel, and the demands, increase.
When hiring a crew, look for experience first, they will of course be knowledgeable about the operation and maintenance of Superyachts, but in lieu of that target enthusiasm and excitement. These qualities are engaging and their personalities will improve them mood of the vessel which has a remarkable effect on the overall enjoyment for everyone, guest and crew alike. If you really want longevity, which is usually a good thing, then you’ll want to find out the ambitions and goals of your prospective crew, and see if that fits in with what you have in mind for your vessel. Life long yacht owners form strong relationships with life long crew, and they make formidable adventure partnerships.
- Budget for Maintenance
Owning a Superyacht is a significant cost, and it’s important to budget for ongoing maintenance and repairs. Regular maintenance is crucial for keeping your yacht in top condition and ensuring it remains first and foremost seaworthy, but also presentable.
The reality is that a well maintained boat is easy to look after, any defects are quickly noticed and rapidly repaired. If allowed to accumulate, the work required becomes overwhelming and the knock on effect leads to lax standards, low boat pride, and realistically, increased turnover of crew.
There must be time and money allocated for regular inspections, cleaning, and maintenance of the engines, generators, and the dozens of other systems on board.
In addition to routine maintenance, you’ll also need to budget for unexpected repairs or upgrades. A well-maintained yacht can last indefinitely, but it’s important to stay on top of any issues that arise to avoid costly repairs in the future.
There is a famous saying at sea, a dollar on the boat saves two dollars in the water. If you don’t allow for maintenance, you’ll pay more in the end.
- Adapt to Life on Board
Living on a Superyacht is vastly different from life ashore. An obvious consideration is that you’ll need to adjust to a smaller living space and be prepared to live in close quarters with your crew and guests, that’s a given, this can be easier said than done.
Whilst its certainly true that yachts are getting increasingly large, and larger yachts can in fact suffer from the complete other end of the spectrum of simply being too big, ensuring you’re making the best of the space on board is one of the best ways to adapt to your time on a yacht. Clearly designate areas for activities. Have designated areas to catch up on work, ideally with an office nook if you can so that you can seperate your leisure time effectively. Look to find time give yourself some novel and new things to look at. Staying onboard for weeks on can feel like being cooped up in a penthouse hotel for weeks on end, without ever leaving the building. You wouldn’t do it, and yet, many owners make the mistake of simply never leaving their yacht, and wondering why they start to feel stir crazy.
One of the most straight forwards ways is to simply book regular time ashore, and keep in mind that you’re daily movement is likely to decrease due to the smaller spaces. Planning a daily walk or hike, will keep you in check. Failing that consider investing in high quality gym equipment to keep yourself moving. One of my many hats working on yachts was as a personal trainer, and it was my observation that if an owner is willing to pay in sweat, the luxury feels even better. On the topic of health, focus on ensuring that most of your meals are good quality and healthy if you can, but more importantly, ensure that they are regular. Eat at set times. Its better for you, pushing back meals and eating later and later is a regular occurrence on yachts, as the message for lunch time or dinner time is rarely locked down by a principle as they attempt to be relaxed and not constrained by a time line. Inevitably, a guest or three miss the message, which further compounds the delays, and by the time everyone sits down, people are hungry and irritable. Define clearly when meals are to be enjoyed and you will automatically add beneficial structure to everyones enjoyment.
The temptation for a new owner, is to finally do away with a schedule. Many yacht owners have worked for decades, relentlessly, to allow themselves the ability to own a yacht. However on the confines of a yacht, a Superyacht even, healthy routine becomes more important than ever. Planning a day with at least a basis of structure, is absolutely imperative to life on board, just as it is on shore. The difference is that on a yacht, watersports take the place of board room meetings in the planner.
- Embrace Sustainable Practices
Owning a superyacht comes with a responsibility to protect the environment and minimize your impact on the ocean. Consider adopting sustainable practices on board, such as using eco-friendly cleaning products and reducing plastic waste.
You may also want to consider installing energy-efficient systems on board, such as solar panels or hybrid engines. These can not only reduce your environmental impact but also save you money on fuel costs.
- Stay Up-to-Date on Regulations
As a superyacht owner, you’ll need to stay up-to-date on regulations and laws related to yacht ownership and operation. This includes regulations related to safety, security, environmental protection, and taxes.
Make sure to work with a qualified professional, such as a yacht management company or attorney, to ensure that you are complying with all relevant regulations and laws. Failure to comply with these regulations can result in fines, legal issues, or even the loss of your yacht.
- Get Insurance Coverage
Owning a superyacht is a significant financial investment, and it’s important to protect that investment with insurance coverage. Yacht insurance can provide coverage for a variety of risks, including damage to the vessel, liability for accidents or injuries, and theft or piracy.
When shopping for yacht insurance, make sure to work with a reputable insurance provider who specializes in yacht insurance. They can help you understand your coverage options and ensure that you have adequate protection for your vessel and your personal assets.
- Build a Network
Finally, as a superyacht owner, it’s important to build a network of professionals and fellow yacht owners who can offer advice, support, and resources. This network can include yacht brokers, yacht management companies, marinas, and other industry professionals.
You may also want to consider joining yacht clubs or attending yacht shows to connect with other owners and enthusiasts. These events can provide valuable opportunities to learn about the latest trends and technologies in the industry and connect with other like-minded individuals.
In conclusion, owning a superyacht is a significant investment that requires careful planning and preparation. By considering these key factors, you can ensure that you are fully prepared for life as a superyacht owner and enjoy all the benefits that come with it.
