Good Ideas That Sound Bad: Buying A Boat During The CoronaVirus Lockdown.

Just as the title says, the thought of buying a boat during the COVID-19 pandemic might be the last thing on your mind. After all, we’re in the middle of a crisis. Market shares are falling, the economy has slowed down significantly and it’s easy to see why you think that buying a boat might be a counterproductive purchase. I mean, we don’t even know how long the stay at home orders will be in effect.

However, if you have the extra cash to spend, you might want to consider investing in a yacht now. These are some of the most compelling reasons why:

Low Yacht Financing And Mortgage Rates

Savvy boat buyers will find that banks are eager to lend money for very attractive financing and mortgage rates, with a lot of these financing rates at an all-time low and with amortization periods that last all the way up to 20 years. The low payments, coupled with the long amortization periods means that buyers have a lot of options in purchasing a yacht.

It Helps Drive The Economy

It’s true that buying a yacht during the CoronaVirus pandemic might seem very self-indulgent. But buying a yacht doesn’t only help drive an economy that has been severely crippled by the pandemic, it also helps out the shipbuilders, as well as the people who work for the brokerage firm that are going to help you buy a yacht. And don’t forget the boat accessory manufacturers like Aerial Wakeboarding. This is especially important when you consider that one of the primary dangers of the pandemic is that it deprives people of their livelihood.

Great R&R During Lockdown

Being confined in your home is much more stressful than it sounds. This is especially true for people who love the outdoors. It’s difficult enough to have your daily routine disrupted, but to be forced to stay within the confines of your home with nothing to do can severely impact your mental and emotional health, especially when the sun is shining.

Owning a yacht allows you to self-isolate without the restrictions imposed on everybody else. After all, the purpose of the quarantine is to avoid the transmission of the virus between people. At sea you’re not going to be interacting with many people other than those in your crew. In fact, many people who own a private yacht have opted to self-isolate on their private yachts. We can’t really think of a surer way to isolate yourself from the madness that’s enveloping the world.

Now is a really good time to buy a boat, not just because of the really good rates, but because it is supporting the economy, which could really use a financial kickstart. So, if you have the resources to spare, you might want to consider buying a yacht.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes