Buying a Boat During The Coronavirus Pandemic

May 13, 2020Articles

Is buying a boat in the pandemic a good idea?

What would you say if we told you that right now, in the middle of this Coronavirus pandemic, is a great time to be looking at buying your dream yacht? We may be a yacht brokerage, but our philosophy is based on complete honesty and transparency- if we’re telling you that this pandemic is a good time to be buying a sailboat, it’s because it is! We help people find their dream yachts to create lasting memories of fun out on the sea, free from life’s responsibilities, and now, free from fear of becoming another statistic amidst this pandemic.

You’d be hard-pressed to find a boater on this planet that hasn’t thought that they would be better off isolating and cruising the seas to socially distance themselves from Covid-19. We’re all thinking of it, many of us have done it, and many of us would love to if given the chance, and if you don’t have a boat yet, here’s an excellent opportunity to buy one! When bad things happen, people go boating- it relaxes the soul, it relieves you of stress and, realistically, what safer way is there to quarantine yourself?

The only uncertainty here is how long this pandemic will take to pass, but when it does, the market will recover and normality will resume. Until then, there are multiple factors that make now an excellent time to be buying a used sailboat or catamaran.

INTEREST RATES ON FINANCING ARE HITTING ROCK BOTTOM

Let’s start with the big one- buying a sailboat in the Coronavirus pandemic may seem like a risky move, but interest rates are hitting rock-bottom. In March, the Federal Reserve cut its target interest rate to 0% and will remain that way until the economy recovers. As a result of this, financing for everything from mortgages to yacht loans have continued to fall, giving savvy buyers a perfect opportunity to buy. Yacht financing allows these buyers to stay heavy in cash while still managing to purchase the yacht of their dreams regardless of Coronavirus.

SELLERS WILL CONSIDER SIGHT-UNSEEN OFFERS

The BVI is currently locked down to tourists, as are many countries. Does this mean it’s impossible for you to buy a sailboat during the pandemic? Not at all! At BVI Yacht Sales we have made it our mission to ensure that even sight-unseen sales are as thorough and transparent as if you were here looking at the yacht yourself. We can offer you detailed photos on request, as well as video walk-through’s and sea-trials, and can easily video call with you to show you any specific queries you have! In addition to this, motivated boat sellers will seriously consider any reasonable offers taking into consideration that the buyer is putting faith into the sale, so now is a great time to be bargain-hunting!

SAILING HELPS ALLEVIATE BAD MINDSETS

Whether you’re limin’ on your boat or cruising around the Virgin Islands, being on a boat is just better- and we can prove it! As Dr. Nichols, author of Blue Mind- a national bestseller and marine biologist says, water bodies are referred to as ‘Blue Space’, a space which separates us from the pressures and distractions of life. In addition to this, studies have shown that “water positively affects us auditorily, visually, and somatically. They’ve found that even just looking at water can trigger feelings of wellness, compassion, empathy, and happiness. We experience slower breathing, reduced heart rate, and lowered skin temperature.” For these reasons alone you should buy a sailboat during the Coronavirus pandemic- a recent survey has shown that consistent or constant stress is felt by twice as many people during the pandemic as before!

SOCIAL DISTANCE IN YOUR YACHT UNDER CARIBBEAN SKIES

We believe this one goes without saying- where better to socially-distance yourself while riding out the pandemic than out on the sea under warm, blue skies! As long as you follow proper guidelines such as not mooring to another boat and only having the people you live with on your vessel, it’s one of the safest places you can be! If there’s ever a time to disappear from society and buy a boat, it’s during this pandemic. While the BVI remains closed, we can arrange for delivery to the USVI, where you can pick up your new yacht and relax under the Caribbean sun!

HELP THE ECONOMY BOUNCE BACK!

While buying a yacht in the pandemic may seem like an entirely self-indulgent purchase on the outside, it’s actually a philanthropic endeavor that you should feel great about (obviously!) When you buy a yacht, you are putting that money back into an economy that is struggling, from everyone who works at the brokerage, to the team at the yachts mooring who deal with the maintenance, cleaning, servicing etc, to the fuel purchasing and delivery services that all keep the boating economy going round! Every boating accessory, yacht insurance policy, fuel and beer that you purchase as a result of your yacht is helping rebuild the economy of our precious Virgin Islands, all while you experience this little piece of paradise!

At BVI Yacht Sales we cater to everyone, we have a range of used boats for sale for every buyer in the market, from ready to sail away today yachts, to project catamarans- we are committed to finding you the perfect yacht of your dreams, at a fraction of the cost of a new vessel. We are also committed to all our sellers who have wisely decided to list their yacht with us- we continue to tirelessly marketing your used yachts for sale across multiple platforms, ensuring we find the perfect buyer for you.

If you’re considering selling your yacht, contact us today for a free, no obligation valuation- there’s a reason we consistently top the market for Caribbean yacht sales. We can be reached through email at [email protected] or you can contact any of our brokers directly here!

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