Checklist for your New Yacht...

Business, relaxation, pleasure... A yacht serves us well in all the ways. It's easy to buy a yacht if you got the dough. But the buyers are unaware of few things that need to be checked and be assured about - things that play an important role in performance, safety, comfort and durability of their new yacht.


There are many things to think of and many questions to ask when choosing your next new yacht - from design to safety. It's very important to check and then recheck each and everything possible. It's surprising to see how something small like the height of the windscreen plays an important role in selecting you next million dollar baby.

Below follows a list of things to think of:-

o Does the HULL CONSTRUCTION have an integrated rubrail on the sides? The rubrail not only protects against scratches, it also keeps the dirty and sandy fenders away from the freeboards. The rubrail makes the freeboards look lower and therefore more elegant.


o When an ELECTRIC WINDLASS has been mounted, is the motor placed in a dry, protected area free from condensation? Is the chain running above the deck? This gives maximum height for the chain, which contributes to best possible conditions for proper self-stow of the chain without piling up.

o Are there sufficient GRAB RAILS on deck and on the ceiling inside the boat?

o Are the SAILS made by a sail maker well known internationally? Is the design adapted for extremely tough conditions? Are the sails sewed in the special offshore designed with additional leather reinforcements? This gives longer service life.

o Is the boat DESIGNED by a well known naval architect with a well known reputation all over the world? Is the boat built by a yard known world wide?
This is of vital importance for the long term second hand value of the boat.

o Has the boat sufficient FUEL CAPACITY? Is it possible to drain the diesel tank easily? Is the engine strong enough? Are the tanks constructed with built in wash plates? Are the tanks specially adapted to each boat model so that maximum tank volume is obtained?


o Are the sides of the DRAWERS made of plywood or of elegant, solid wood? Have the floorboards real teak veneer with bright wood stringers? Are the sides of the floorboards varnished? Is inside woodwork varnished with minimum six layers of varnish?

o Does a WINDSREEN protect the cockpit well? Is the height of the windscreen high enough to protect the cockpit but still low enough to ensure good looks? Is the design of the windscreen a part of the boat design so that it harmonises with the rest of the boat? Has the windscreen an opening window in the middle to ensure sufficient ventilation when needed?


o Are the MATTRESSES made for comfort? Are all mattresses tailor made to suit well? Do the mattress boards have enough ventilation holes and are these boards unvarnished, both for the best ventilation? Is the carpet secured by press studs to prevent movement?

o Is the boat well ventilated? Are there enough ventilators on board? Are the cupboards louvered?

o Is there adequate LIGHTING onboard? Are all cables wired in a reasonable way, and put in conduits wherever possible.


o Is there a proper BILGE, not too shallow and still not too deep? A too shallow bilge is not able to collect drained water and if it is too deep it will be difficult to keep the bilge clean.


o Is the boat built by a yard that takes pride in DELIVERING on the agreed date?

All these points are equally important and they do not come in any order of priority and NONE of them are to be compromised for the best ownership and sailing experience to an owner.


So next time you set out to buy your new yacht or if your friend's contemplating buying one, make sure you have a look at the buyers' checklist before going ahead...

Boating Dreams: How to Buy a Yacht and Cash-In on it?

Would you like to own a yacht?
Would you like to pay for it with charter income & tax savings?
Would you like to dramatically reduce your 2008 income tax bill?
If you answered “YES!” to all three questions, keep reading.

Whether you're going to sail the open water, fish your favorite coves or chart a course to your dream retirement, buying a yacht is the adventure of a lifetime. You can find many exceptional values in both new and used yachts. To make sure you get years of pleasure and adventure out of your boat, buy smart!

CHOOSE YOUR BOAT

Choosing a boat is a very personal decision. Ask yourself how you wish to use your boat. Obviously you wouldn't want to go and buy a racing sailboat if your intention is to cruise the bay with family. May be you want to hold corporate meetings onboard as well?

CHOOSING THE RIGHT GEAR

Many boats come stock with excellent gear and electronics, but undoubtedly you will want to add an item or two to your new boat. Professionals can help you choose what gear best suites your needs and budget, install it for you and teach you how to use it. Have fun planning and putting together your new boat.

DEALER"S SERVICES

• Does your dealer have a certified staff of sales professionals to install and service your new yacht.?
• Are they licensed, insured and bonded?
• Do they have mobile dockside service to help you no matter where your boat is?
• Do they have emergency technicians available 7 days a week?

FINANCE YOUR BOAT RIGHT

Anyone purchasing a boat or yacht should carefully look at tax issues in developing a financing strategy since some loans can be structured to include tax benefits. An experienced marine lender will be able to explain the general tax implications of various financing strategies. As always, you should review these options with your accountant or tax advisor.

• Should I finance my boat, even if I can afford to purchase it outright?
Investment earnings can far exceed the cost of marine financing. Financing your boat or yacht could cost less than outright purchase if you choose to allocate that money for prudent investment in stocks or bonds, and take advantage of tax benefits.

• Will a boat qualify for a second home deduction?
Yes, if a boat has a place to sleep, a head and a galley it will qualify as a second home deduction.

• What does this give me?
You can write off all your interest expenses related to the boat, just as you do your primary residence.

• What restrictions apply?
The IRS only entitles you to one 2nd home deduction, so if you already own a home, it might benefit you to finance your boat through the equity in one of your homes

• Can I write my boat off as a business expense?
Many do write off their boats through their business; however you would want to meet with your own accountant to insure you followed IRS guidelines.

PLACING YOUR NEW YACHT IN A CHARTER

Is your concern about the cost of owning and maintaining a yacht keeping you from pursuing that dream? Then placing the yacht in charter with a reputable charter company can help you achieve that dream, as it has for thousands of yacht owners.
Placing your yacht in charter enables you to:
• utilize your yacht.
• help pay for it with charter income.
• take advantage of tax deductions that will dramatically reduce the cost of owning your yacht.
• You also will enjoy professional care and maintenance for your yacht provided by the charter company.
• Chartering enables you to use your time for boating — while letting an experienced service staff attend to the hassles of maintenance.


In general, here’s how the tax laws apply to charter boats. Chartering converts your yacht from a personal to a business asset. As such, your purchase of a yacht qualifies for tax deductions applicable to business investments, including a significant tax deduction in the year of purchase and on-going deductibility of charter-related expenses, while generating revenue to help pay for ownership expenses. This revenue is earned while your yacht might otherwise remain tied to the dock.
Thus to conclude, with the fundamentals covered - you are now set to pursue your boating dreams!