The quest for a new luxury boat can sometimes feel like chasing a dream. Just when you think you’ve spotted the right one, you discover a small flaw that makes you change tack. And so, you have to start again from scratch.

Using a luxury boat broker is going to help. Your boat broker acts as a matchmaker who’ll carefully do the research for you and connect you with potential sellers.

There is plenty to weigh up, so read on for some tips that’ll get you on the water aboard your new luxury boat in double quick time.

1.   Find a Great Luxury Boat Broker

It never hurts to involve a boat broker because you have nothing to lose and potentially everything to gain. It allows you to bring in an expert to run your wish list past. They’ll then be able to come back to you with a list of suitable possibilities.

You may have an interest in a new luxury boat that’s at the higher end of the market. If so, go with an agent that specialises in quality such as a Jeanneau or Maritimo boat broker. A great luxury boat broker will be knowledgeable, passionate and responsive.

It’s well worth investing in the relationship you have with your broker so that they get to know the finer details of what matters most to you. If you’re buying a new luxury boat, for example, they’ll be able to offer you advice and support about optional extras. They’ll also be across any promotions that may not be publicly available.

Use them as a second pair of eyes and as a resource to find out as much as possible about anything from boat policy to marinas to engine types. You want someone who’s going to be upfront and honest, as though they were the best mate helping you out.

2.   Brand New or Pre-owned

Before meeting your boat broker, it’s worth considering what your dream boat could look like. Pre-owned boats may be a cheaper option but if you have your heart fixed on a brand-new boat, tell your broker.

Anything is possible, and they may know of a way to match you up with a heavily discounted ex-demo model, for example. Budget, lifestyle choices and any wriggle room for compromise will be the key dependencies that will help you make your decision.

You should come up with a workable annual maintenance budget. This should allow for fuel charges, potential repairs, cleaning, insurance and docking. Check with your broker to see if your budget is realistic for the type of boat you’re after.

3.   The Type of Boat

Chartering a boat for a day is a good way to start getting to know what’s going to work best for you.

It’s also always a good time to visit a boat show even if you’ve already made your purchase. That way you can keep abreast of major industry developments and chat with other boat owners to share tips and advice.

Here are some useful questions to help you build a personalised priority list:

  • Will you be entertaining families with kids, friends and work colleagues?
  • Will you be using your boat for fishing and watersports?
  • Do you plan to stay on board overnight regularly?
  • Will you want to cook and store food on board?
  • Do power and speed matter to you?
  • Would you prefer a specific brand of boat such as Jeanneau or Wellcraft?
  • How often do you intend to use your boat?
  • Where do you plan to moor your boat?

Although there are similarities in the legal processes involved with buying a new home, there are many significant differences when purchasing a boat. Boat buying often tends to get driven by emotion. It’s therefore important to understand what’s involved.

It’s another good reason to employ the services of a boat broker who can help to stop you from making rash decisions.

There are pre-purchase surveys to consider for used boats along with the option of an engine report. There may also be customs and excise duties to include. On completion of the sale, the next steps are ownership transfer and registering the boat.

4.   The Resale Price of Your Boat

Unlike property, boats tend not to be lucrative investments. Depreciation plays a key part in a new luxury boat purchase. Depending on the make, model and market you’re likely to lose at least 10 per cent on a new boat in the first year.

Bear in mind that used boats will almost always need more maintenance, however. You should use the prevention-better-than-cure mantra. As a boat ages, there’ll be more prevention and the occasional cure to perform.

If you don’t manage the prevention, the resulting cure is likely to end up costing you more. If you have any doubt about what the future is likely to hold for a used boat you have your eye on, talk to your broker.

5.   Your Preferred Marina

If you want to get the best use from your boat, you’re going to need to moor it somewhere that’s convenient. Check out the route to the marina carefully. If you have your mind set on a particular marina, make sure there’s a berth available.

Get a breakdown of all the costs you are likely to incur. You should also check out berth space, shelter, security and manoeuvrability. Other factors to consider include:

  • Access to shore power, fresh water and fuel
  • Shower facilities, restaurants, parking and a members club
  • Maintenance options and opening hours

Talk to MW Marine Today!

MW Marine is a Jeanneau boat broker and Maritimo boat broker based at the d’Albora Marina in Mosman. With years of experience dealing in both new and used luxury boats, we pride ourselves as one of Australia’s most trusted luxury boat brokers.

Boats are our passion and we love talking to both potential and experienced owners about what matters most to them. If you’re considering buying a new or used boat, then do get in touch with us at MW Marine. Our advice is free and we’re always happy to help.