Imagine spending your vacation cruising the turquoise waters in an exotic location while being pampered and not having to lift a finger during the entire trip. Days are spent on deck with the wind in your hair, or at shore exploring different islands. As the sun sets, your yacht pulls into a tranquil lagoon and moors for the night. There’s enough time for one last dip in the balmy ocean before pre-dinner drinks are served and the chef starts preparing the first course. You were planning to move on to a different island tomorrow, but this one is so beautiful you decide to stay for another day. And maybe try one of the local restaurants for dinner the next night. No problem. Your itinerary is entirely up to you.

Sounds pretty nice, doesn’t it? It is. And the good news is that it can be quite affordable too.

Luxury yacht charters come in all shapes and sizes, fully crewed, captain only, or bare boat (meaning no crew at all), sail, power, catamaran or gulets (Turkish motor-sailers); basic or with every amenity you can imagine. Most provide water toys such as kayaks, jet skis, diving equipment, windsurfers etc. And all have speedboats to take you ashore (or go water skiing). You can find a luxury yacht for less than $2,500 in the Caribbean, even during high season. That is bareboat though; if you want a crew you’ll have to spend a little bit more. But you can still rent a luxury catamaran with a crew of 4 and room for 10 in the Caribbean for less than $4,000/week per person, or a luxury sailing boat with a crew of 2 and room for 8 guests for less than $3,000/week per person.

And of course, the sky is the limit. If you want the ultimate in luxury, consider the Alysia, which cruises the Mediterranean for a bit over $1.1 million/week. But here’s what that gets you: 25,833 square feet of guest space, a crew of 36, a business center, health center, a beauty salon (with 2 beauty therapists), wine cellar, chefs, 24 hour laundry service, elevators, Bose surround sound system indoors and out, nurse on call 24 hours/day, cinema, a Yamaha grand piano, diving equipment (including waterproof cameras), waverunners, water-skis, helicopter deck, and more. It holds up to 36 guests, so if you find 35 people to share the trip with, it breaks down to a little bit over $30,000 per person.

No wonder luxury yacht charter is becoming increasingly popular. There are boats available to suit anybody’s taste and wallet, and unlike at a traditional cruise, you don’t have to stand in line for anything, you can eat dinner in your bathing suit, you don’t have to listen to intercom announcements, there is no rushing from port to port or back on the boat after a few hours on land – you’re in charge of the itinerary and everything else you feel like being in charge of.

Now that you’ve decided which form of charter is right for you (bareboat, skippered, crewed or flotilla), it’s time to focus on the type of boat you want.

I find sailing incredibly soothing and exhilarating at the same time. It can be still and quiet or fast and action-packed all depending on the wind and your choices. If you want to be able to hear the ocean and really be part of the environment, and view the act of sailing as the event itself (rather than a means to get somewhere fast), then sailing is for you. It does take longer to get anywhere than when traveling by motor; you are at the mercy of the winds; the boat will lean to the side when the wind is strong and you’re going fast; and there will be ropes and the boom to watch out for. Having said that, I think sailing can’t be beat and everyone should give it a try at some point.

If you want speed and prefer to go from one location to the next fast, a powerboat or motor yacht is for you. They do make a lot of noise, and you won’t feel as much part of the environment as when sailing. On the upside, you don’t have to mess around with sails and such, just turn a key and you’re on your way. They provide a more stable surface underfoot, usually have more spacious living quarters, and since they are fast, you will be able to fit more into your itinerary.

For even more stability, try a catamaran. Available in both power and sail, they are the most stable of all the options, making them a great choice if you have guests new to sailing or suffering from seasickness. They travel faster than monohulls, they provide lots of space both indoors and out, and with their shallow drafts they are able to go in closer to land and in areas where monohulls can’t go. One thing I love in particular about catamarans is the tramp or nets in front – a great place to relax and feel the spray of the ocean on your face while underway, and they provide a spectacular first-row seat when dolphins are around. On the downside, catamarans do take up more space, so if you’re in a crowded marina, that might be an issue.

Gulets are graceful, traditional Turkish two-masted wooden sailing boats. Originally used by fishermen, traders and sponge divers, gulets these days are designed with comfort in mind. Although mostly found in Turkey, they are becoming increasingly popular in the entire Mediterranean area. They are usually configured as motor-sailers, so while you can enjoy the peacefulness of sailing, you won’t be stuck in port on a calm day. Gulets are wide beam boats, which means you have lots of space to enjoy both on deck and below, regardless of whether you charter a comfortable 50-foot vessel or a 108-foot luxury gulet with dining room, en-suite bathrooms and walk-in closets. The aft deck on gulets is a particularly cozy spot, usually outfitted with a wraparound cushioned bench, perfect for a nap or taking in the surroundings while enjoying a pre-dinner drink.