In the yachting industry, a yacht interior refinishing job is sometimes called a refit. Buying a sturdy and well-built older boat and refitting it can be a cost-effective way to obtain a yacht that you otherwise couldn’t afford.
Turning the old into new with yacht interior refinishing can also be a satisfying DIY project if you’ve got the money, time, and persistence to make it work. Here’s what you need to know about investing some sweat equity into your yacht interior refinishing job.
- Start with a structurally sound vessel. It’s not a good idea to get a yacht that requires a lot of rebuilding of the basic, and essential, structural elements. A poor-quality, dilapidated boat will turn into a vampire – sinking its teeth into your wallet.
- Get a stylistically desirable yacht. Purchasing an older yacht for refinishing that still has a lot of desirable and classic features is ideal. This makes your yacht more likely to sell if you want to “flip it” after restoring the interior.
- Also, consider the refit cost and the resale value. You don’t want to sink a lot of money into a boat that won’t command a good price on the market. You’ll want to perform a complete cost estimate before obtaining the boat.
- Be honest with yourself about your financial capabilities. You must have the money to finish the job. As always, add a bit more to the cost estimate to be on the safe side before acquiring the boat if it fits your budget.
- Also, be honest with yourself about the time and effort it will take to complete the job. A proper yacht interior refinishing job or refitting job will need about 25% of the cost covered in sweat equity. Is this something you can reasonably do?
- Do not use cheap materials. When forming your cost estimate, you do not want to include costs for cheap, bargain-basement materials and components. For your yacht to command a fair resale price that will make this job worth your efforts, you’ll want to use quality materials.
- Know that jobs like these always take longer than anticipated. Restoring jobs tend to take an average of four times longer than the owner initially anticipates.
- You also realize that no “quick” or “little” job is ever quick or little. A lot of times, what you think may only take one weekend of work can turn into a months-long project. Rarely does refinishing go from A to B, to Done.
- You’re persistent and patient person. These two qualities are strongly needed with restoration jobs. They take longer than you think they will and require grit and determination.
- You know to avoid low-priced contractors. You will inevitably need to contract out some of the more extensive refitting jobs. You must understand that the lowest-priced contractor never does the best job.
Refinishing a charming old yacht and turning it into a desirable new vessel can be a rewarding and profitable experience. Keep our refinishing tips and advice in mind before you acquire your next yachting project.