Why Now is a Great Time to Buy a Boat

Posted by Gail Farias on Mar 23, 2020 4:39:50 PM
Gail Farias
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Many of us harbor dreams of sailing wherever and whenever we like. When we take time to pause, life on the water under blue skies can be both relaxing and therapeutic, offering an escape that makes many of our worldly concerns seem distant.

But first, you need a boat.

Boat and yacht production in the past decade has exploded, giving buyers more options than ever before. From high-quality, pre-owned watercraft to state-of-the-art new boats of all kinds, finding one that matches your preferred boat type, capacity, functionality, technology, and budget is not difficult.

Experienced yacht brokers can discuss your preferences and help to locate a list of viable new boats or lightly used brokerage inventory choices that fit your criteria and help you determine what is the best boat for you.

So why is now an excellent time to buy a boat?

A New Yacht is a Great Investment: Diversify Your Assets

While recent social and economic stresses have impacted every aspect of life, deciding to buy a boat now makes sense for many. Converting those highly vulnerable assets like stocks and bonds into something far more tangible with a guaranteed long-term value can be a very sensible and strategic financial move. By doing so, you diversify your current portfolio while owning something that just happens to afford a great deal of pleasure during your spare time.

Boosting the Economy

You should also be aware that buying a new yacht helps our overall economy by keeping hard-working citizens at their jobs. If your boat is new, a factory will keep churning. And, salespeople and maintenance providers will remain in place.

Every element of owning and operating a new or pre-owned yacht contributes to the economy. Fuel providers, marinas, accessory suppliers, insurance agents, and all of the provision producers and distributors benefit from each boat sale and outing.

Lower Interest Rates

For the same reason that real estate owners and buyers are jumping to refinance or buy, new boat owners can finance a new yacht at a lower interest rate than in the past.

If you are financing through a bank or other lending institution when you buy a boat, lower interest rates translate to lower monthly payments or allow you to buy a larger or more completely equipped watercraft.

Making Your Boat a Second Home

If your responsibilities prevent you from becoming a full-time sailor, now is a great time to buy a boat as your second home. As with a land-based domicile, the interest on your yacht purchase as a secondary home is tax-deductible. Your new boat only needs to have at least one sleeping room, equipped galley, and head to qualify for the second-home deduction.

Providing an Alternative, Fabulous Way to Travel

Traveling in a comfortable, luxurious yacht or sailing vessel can be far more enjoyable than traveling by air or automobile.

Think about it. Do you enjoy standing in those long lines at security checkpoints among others who are coughing and sneezing? How much do you like dragging your carry-ons during your inevitable footrace from Gate A47 to make your tight connection at Gate C94?

Or, do you fancy sitting in a cramped car for hours and hours with only fast food and gas stations to offer a break?

Substitute these in your imagination with lounging aboard your well-appointed vessel equipped with a fully stocked galley, a luxurious stateroom, and beautiful outdoor seating areas where you may enjoy the sky, seas, and air. Don't forget the beauty of the unfiltered sky and stars at night.

If you feel like fishing or taking a dip along the way, go ahead. When you choose, you can simply dock at a convenient seaside marina, sample the local fare, and enjoy a dockside evening, perhaps with some like-minded new friends.

Thinking of buying a new boat? Let the professionals at Cape Yachts help. We are now providing virtual boat tours. Shop for your new boat from the comfort of your own home and have your new boat available by boat season. What are you waiting for? 

Contact Us Now!

Topics: buying a boat, should i buy a new boat, why now is a great time to buy a boat

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