There is no doubt that owning a boat can be a very expensive investment, particularly when you factor in maintenance and fuel, and the joy of owning one can be overshadowed by the responsibility of keeping the value of your asset up. This is where boat share can offer an excellent alternative solution for a relatively low cost.
What is Boatshare?
Boatshare is usually a boat syndication program that offers marine enthusiasts the opportunity to own a share of a luxury yacht. By sharing the costs of purchasing and maintaining a vessel, syndicate owners can enjoy the freedom of the boating lifestyle without all the hassle of normally associated with boat ownership.
Why Boatshare?
Owning your own boat can be a large cost financially as well as a time commitment to ensure proper maintenance of your vessel. The reality for most people is that time commitments in other aspects of their lives means boats are often left unused for large periods of time. Boatshare offers a solution by allowing investors to own only a portion of a vessel, only a portion of the costs whilst still enjoying all the benefits of a boat.
“Owning your own boat can be a large cost financially as well as a time commitment to ensure proper maintenance of your vessel”
Things to consider when deciding on whether Boatshare is right for you:
- How often would I use the boat?
- How much money do I have to invest?
- What are my current costs of owning a boat?
- Who maintains my current vessel and the pitfalls of this?
- What destinations do I like to travel to when I am in my boat?
- How would I feel about being in a group ownership scenario?
The answers to the questions above will certainly set you on the right path to know whether Boatshare is right for you. It is worth considering though that many operators offer 1/10th shares where owners receive up to as many as 33 days a year for around an average $50,000 investment. Depending on the vessel, ownership could be as little as $12,000 with a reasonable monthly maintenance fee. Definitely food for thought!