Lounging around while you enjoy the sea brings about a different kind of relaxation. Owning a yacht is a dream for many individuals–after all, a yacht is the epitome of the high life. But if you’re serious about wanting a yacht, you’re probably wondering how much does owning a yacht cost in the Philippines.
The price of a good yacht varies depending on the size and condition. Generally, it is more expensive to buy a brand new boat but this may change depending on the situation. Aside from purchasing the actual boat, owning a yacht requires paying for yacht care services and other maintenance services such as boat exterior detailing services. Overall, owning a yacht costs a pretty penny, but the experience is well worth it.
If you’re serious about getting your own yacht, then read through our brief guide on yacht prices in the Philippines.
How Much Does Owning A Yacht Cost?
Yachts are one of the ultimate forms of luxury. As such, they do have expensive price points. A small locally made 25ft yacht may range from P2M to P2.5M, depending on the boat’s horsepower and inclusions. Of course, this price may go down a bit if the boat is not brand new.
When deciding if you’d rather purchase a new boat or a secondhand one, it is important to keep in mind that purchasing a secondhand yacht may increase your regular boating expenses as you need to ensure that the vessel remains in top condition. This means responding to possible issues that the previous owner encountered. In the long run, it might be less costly to acquire a brand new yacht with no issues instead of having to continuously maintain a used boat.
Aside from the actual cost of the boat, another thing that contributes to the expense of owning a yacht is the recurring fees needed to maintain the vessel. This includes the regular maintenance of the boat, as well as the rental or wage of a competent crew that will manage your yacht. A crew can cost yacht owners anywhere from P10,000 to P50,000 per month. The price may increase depending on the difficulty of their job as well.
How Much is A Yacht?
The price of a yacht depends mainly on the following factors:
- The size of the yacht;
- The age of the yacht; and
- The brand and type of yacht.
As a general rule, a bigger yacht is usually more expensive. Aside from the boat’s dimensions, the maintenance costs on bigger yachts are higher too because they require more work. Consider this when buying your yacht.
For first timers, experts recommend purchasing a 40-foot yacht. A 40-foot yacht is a respectably comfortable size that isn’t too difficult to maintain. It is not overwhelming for first time yacht owners and it gives them ample space to design the boat as they wish. A brand new 40-foot yacht is estimated to cost around P50M.
Other than the size, another factor that can contribute greatly to a yacht’s pricing is its age. Newer yachts will cost more upon purchase. This price point, however, is justified by the fact that most brand new yachts are most likely to not have issues or problems that a used boat could have. On the other hand, buying a brand new yacht may not be the wisest budget choice for those looking at cheaper options. If you’re looking to buy a yacht at a lower price point, then searching for a used boat is a viable option. A rough estimate for a 40-50 foot used boat’s price point is around P30M. While used boats are indeed cheaper, note that they may have complications because of past ownership. When looking at used boats, it is important to make sure to do exhaustive research on the model and boat to ensure that you get the best possible condition for the yacht.
Finally, when looking for a new yacht, it is important to consider what type you will be acquiring. Depending on what type of yacht you are getting, the price point might be at a higher level. The price point for an express yacht and a flybridge yacht differ, mostly because of the vast difference between the two.
Finding Cheaper Yacht Options
Sometimes, you need a trial version of owning a yacht before you can take the plunge. If you’re looking to experience owning a yacht without committing to the entire process yet, then you should consider renting out a yacht first. This is a great way to understand how a yacht fits in your lifestyle and can help you get ready for the responsibilities of being a full-fledged yacht owner.
If you’re wondering how much are yacht rentals in the Philippines, then you can ask around reputable ports and boat renting companies in the country. Currently, you can rent a boat for as low as P10,000 per day to P2.5M per day, depending on how luxurious the vessel is.
Live the High Life and Sail the Seas!
Owning a luxury yacht is the pinnacle of high life. Whether you’re looking to spend time in a yacht you own or rent out a luxury boat for a day or two, lounging around on your deck while sailing the seas is an elegant and refreshing way to rest and relax.
Purchasing a yacht is not only a promise of luxury, but it is also a huge commitment–one that involves a lot of financial duties. While it may seem like a huge challenge, our guide to yacht prices in the Philippines can help you have an easier time.