Buying a sailboat: get the boat of your dreams and avoid pitfalls in the process

Discover the essentials of buying a boat. Understand your goals, get help with budgeting, find financing options, get negotiation advice and avoid mistakes.

30 November 2023

There's a good chance that if you're reading this, you're pondering buying a sailboat for the first time. And let's be honest: if you're at this stage, you probably have more questions than answers. With a decision as big as this one, it's easy to lose your bearings, make missteps, or simply freeze at the prospect of navigating these uncharted waters. 

The key to a successful purchase lies in understanding four main pillars: 

  • Discerning your sailing goals 

  • Aligning those goals with your budget 

  • Gaining knowledge of the different types of sailboats and their key features 

  • Understanding the buying process 

In this guide, we will set the compass straight and map out a course that will bring you closer to your dream. We'll tackle every crucial aspect of buying a sailboat, from acknowledging your sailing needs to evaluating potential vessels and negotiating the right deal. 

Why are you buying a sailing boat? 

Understanding the motivation behind your purchase is the first step towards making the right choice. Consider these critical factors to help guide your decision:  

  • Type of sailing: Are you looking for a leisurely sail on the weekends, seeking the thrill of competitive racing, or envisioning life aboard? Casual sailing might require a simpler boat while buying a boat to sail around the world necessitates a vessel equipped with the comforts of home. 

  • Sailing location: The environment where you plan to sail – oceans, lakes, or rivers – and the specific region, like the warm Mediterranean, the harsh Atlantic Ocean, or the cold Baltic Sea, influences the size, design, and capabilities of your ideal sailboat. 

  • Crew: Will you sail solo, with family or friends, or with a hired crew? Larger numbers onboard necessitate more space and accommodations. 

  • Future plans: Are you a beginner learning the ropes or an experienced sailor planning an around-the-world voyage? Your long-term aspirations can shape the complexity and size of the boat you should consider. 

  • Purpose: Will your sailboat serve as a platform for leisure activities, like fishing or diving, or for business purposes, such as chartering?  

  • Experience level: Novice sailors may prefer a manageable, easy-to-sail boat, while seasoned mariners may seek a more sophisticated and challenging vessel. 

  • Frequency of use: A boat used seasonally might have different maintenance and storage requirements than one used throughout the year. Consider how frequently you intend to sail when buying a sailing yacht. 

A couple on a yacht looking into the sea

Budgeting before buying a sailboat 

Creating a thorough budget is a crucial step in the purchasing journey, not only to understand the immediate expenses but also to appreciate the far-reaching financial implications beyond the initial expenditure. 

The table below outlines a comprehensive range of costs that could shape your ownership experience. Bear in mind, these are ballpark figures  - actual costs can oscillate due to market flux and individual variables. 

Cost Factor

Sub-Categories

Description

Estimated £

Initial Purchase Price

Boat Price

This is the upfront cost of the boat itself, depending on type, size, age, condition, etc.

£10,000 - £200,000+

Immediate Repairs/Upgrades

If purchased used, the boat may require immediate repairs or upgrades after acquisition.

£500 - £5,000+

Ongoing Costs

Mooring/Docking Fees

Regular costs for keeping the boat at a marina or dock.

£1,500 - £10,000/year

Insurance

Premiums for coverage against damage, loss, or liability. Check out this detailed guide for more.

£200 - £1,000/year

Maintenance

Regular upkeep, such as cleaning, painting, and replacing worn parts.

£500 - £2,000/year

Repairs

Costs for fixing any damage or malfunctions that occur.

£100 - £2,000/year

Fuel

Costs for fuel if the sailboat has an engine.

£100 - £1,000/year

Equipment Upgrades

Costs for upgrades to your sailing equipment for improved performance or convenience.

£200 - £1,000 per year

Licensing

Costs related to boat licensing, certification, or other administrative fees.

£50 - £500 per year

Others

Costs like storage, safety gear replenishment, marine surveys, and ongoing sailing education or certifications.

£500 - £2,000/year

 

Financing options 

If you're not in a position to pay the entire amount upfront, don't worry; there are various ways around it. We've published a detailed guide on how to finance your sailing boat, but in short, here's a snapshot of the most popular options. 

 

Financing Options

Description

Personal Savings

Using your own money to finance the purchase.

Bank Loans

Borrowing from a bank, usually with the boat as collateral.

Credit Union Loans

Similar to bank loans, but from a credit union.

Marine Finance Companies

These specialise in boat loans and may offer competitive rates.

P2P Lending

These link borrowers and investors directly, eliminating the need for conventional financial intermediaries.

Considering resale value when buying a boat 

A savvy buyer doesn't just look at the initial cost; they also consider the potential resale value of the sailing boat. Factors like the make and model, maintenance history, and market demand can significantly influence the boat's future selling price. By evaluating this upfront, you can factor in depreciation and make a more informed investment. 

New vs. used sailing boats 

Specific considerations come to the forefront when deciding between a new or used sailing boat. 

Among the benefits of buying a new boat is unparalleled peace of mind. The sails are crisp, the hull is untouched, and the rigging is in perfect condition, guaranteeing optimal performance. These boats come with the latest advancements in sailing technology, like cutting-edge navigation systems, modern safety equipment, and efficient hull designs for better speed and stability. A new boat's customisable aspect is also a big draw. You can choose the sail configuration (sloop, cutter, ketch, etc.), hull material, deck layout, and even keel design to suit your precise sailing needs. 

Comparison of two boats

In contrast, buying a sailing boat that's already been on the water involves lower initial costs. They're sea-tested with proven systems and come with a legacy of investments and experience from previous owners if kept well. And while they may need some maintenance, the depreciation curve is generally more forgiving. 

Buying a sailing yacht: types and key features to consider 

As you set out to buy a sailing boat, understanding different categories and their key features is paramount. Let's delve into eight of the most popular ones and the aspects you should consider when buying. 

Dinghies 

These compact sailing boats, often less than 15 feet long, are ideal for learning or short sails. When buying a dinghy, assess if a monohull or multihull suits your needs better. Given their size, pay attention to the boat's durability and ease of handling. 

Daysailers 

Slightly larger than dinghies, day sailers are designed for day-long trips. They may include a small cabin for shelter. Key features to consider here are seating comfort, storage capacity for food and personal items, and ease of rigging for quick set-ups. 

Cruising sailboats 

Engineered for extended journeys, these boats have amenities like cabins, a galley (kitchen), and a head (toilet). When purchasing, evaluate the interior layout for comfort and practicality. The hull design and keel type significantly impact stability and performance during long trips, so choose wisely. 

Racing sailboats  

Fast, sleek, and lightweight. These boats possess large sails relative to their size. The sail plan and hull design are critical, as they dictate speed and manoeuvrability. High-quality rigging and deck layout ensure efficient sail handling during races.

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Yachts 

Yachts embody the epitome of luxury and are typically expansive over 40 feet. They come adorned with multiple cabins, a generously equipped galley, and sophisticated navigation systems. Those contemplating buying a sailing yacht should scrutinise the quality of the onboard equipment and the generous spatial layout, ensuring it offers both luxury and comfort for lavish seafaring experiences. 

Catamarans 

These boats, with two parallel hulls of equal size, offer stability and space, making them popular for cruising and racing. When buying a catamaran, look at the bridge-deck clearance to avoid slamming in rough seas, and evaluate the living space for comfort. 

Trimarans 

With a main hull and two smaller hulls on the sides, trimarans provide stability and speed. The design and condition of the 'amas' (outrigger hulls) are crucial as they impact performance and safety. 

Tall ships/Schooners 

These traditionally-rigged large sailing vessels with multiple masts and sails serve training, tourism, or charter purposes. Consider the condition of the rigging, sails, and deck layout as they affect the boat's handling and maintenance costs. 

Inspection and trial before buying your first sailing boat 

An inspection and sea trial offers an opportunity to identify potential issues that may not be apparent at first glance. Begin by visually inspecting the boat's hull for signs of damage or repairs. On deck, examine the rigging, mast, and sails, and the operational smoothness of the winches - their condition and functioning can significantly impact a sailboat's performance and safety. Check the rudder and tiller or wheel to ensure smooth operation, while a careful look at the keel for any damage is paramount. 

Man inspecting a boat

Don't forget to go below deck, scrutinising the engine, electrical systems, and plumbing. Also, examine the lines for any signs of fraying or wear. Remember, even the smallest detail could have a significant impact, so leave no stone unturned. 

Next, a sea trial allows you to assess the boat's performance and handling under sail. Note the ease of steering, speed, stability, and the boat's response to wind and wave conditions. 

BONUS TIP

Post your initial assessment and sea trial, consider employing a professional marine surveyor. Their expertise can reveal hidden problems, ensuring the boat's safety and value.

   

Negotiating your boat purchase 

Whether buying a new sailing boat directly from a dealer or purchasing a used one from its owner, there's always room for some negotiation. The former's possibility of negotiating a lower price might be slim due to set manufacturer prices. But you can often negotiate for additional equipment, upgrades, or complimentary services.  

Conversely, the used boat market typically allows more room for price negotiation, given factors such as boat condition, age, and the seller's eagerness to sell. Remember, negotiation isn't just about price; terms of delivery, extras, and payment options are all fair game. 

Buying a sailboat and closing the deal 

Once you've negotiated the terms, it's time to wrap up the legalities. A purchase contract should detail the agreed price, terms of sale, and any warranties. It's advisable to have a maritime attorney review this document.  

Additionally, you need to consider licensing or registration of the boat. Purchasing from overseas may present additional considerations, especially in light of Brexit. Be sure to understand the import rules, VAT implications, and potential tariffs if you're buying a sailing boat outside the UK. Taxes, including sales, use, or property taxes on your boat, shouldn't be overlooked as well. Researching local laws or consulting a tax professional is recommended to preempt any unexpected liabilities. 

Post-purchase considerations 

After buying a sailboat, continuous learning and care are essential. Consider acquiring certifications from accredited institutions like the UK's Royal Yachting Association to enhance your sailing skills. Regular maintenance, including inspecting sails, checking rigging, and servicing engines, is essential to prolong your boat's life. Lastly, joining a sailing community, such as the Cruising Association or local yacht clubs, can provide support, camaraderie, and valuable advice from seasoned sailors.  

The bottom line 

Buying a sailing boat in the UK is a journey with many important steps. It's not something to rush into but instead should be taken with care to ensure your final choice aligns with the vision you've so vividly painted in your head. Don't rush the process; instead, savour each step. 

And remember, you don't have to go through it alone. Don't hesitate to contact a nearby Hanse Yachts dealer with any lingering queries. 

On top of the exquisite sailing yachts showcased in our catalogue, our team of seasoned professionals boasts a wealth of experience, having navigated these waters personally. You can count on our invaluable guidance as you chart your course towards your perfect sailing boat.

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