Owning a yacht is one of the ultimate forms of luxury living, many people dream of owning a yacht but not many can afford to purchase one outright. Owning a yacht will certainly not cost you pennies but there is another option that will allow you to experience the yacht ownership lifestyle at a fraction of the cost.

Instead of purchasing a boat as a sole owner, you have the option of acquiring boat shares to reduce the overall cost of owning a boat.

How does Shared Yacht Ownership Work?

This is a very common and valid question, when you buy yacht shares, you purchase a boat as part of a group instead of purchasing the boat as an individual owner. Typically, a boat share will offer a portion, usually ⅛ of the boat for sale. Therefore, you and seven others can all purchase ⅛ of a luxury yacht. This drastically reduces the cost of the boat, allowing you to experience the opulence of owning a yacht without the cost and hassle often associated with owning a yacht as a sole owner.

Each owner can utilise the boat for six weeks out of the year, which is a more sensible and affordable way of buying a yacht.

Is it a Good Idea to Share a Boat?

Sharing a boat is the most cost-effective way of owning a boat. Shared boat ownership is in fact an ancient practice that fishermen and cargo ship owners would utilise to reduce the cost of buying boats. The truth is, people buy yachts for sheer luxury, it’s rarely a financial investment for future profit or gain. It’s often an investment in happiness and wellness.

To answer the question, is it a good idea to share a boat? It is certainly a good idea if you want to experience the luxury lifestyle without the cost and responsibility of owning a yacht as a sole owner. Often, yacht share network’s reduce the overall cost of maintenance and upkeep of the boat.

Usually, yacht owners have their boats docked for months and months throughout the year, and they only get to experience the luxury of their boat when they are less busy during the summer months. Therefore, it makes more sense to purchase a boat on a fractional yacht ownership plan instead.

Here are five reasons why you should consider shared yacht ownership.

Cost-Effective

Buying a boat is never going to be cheap, expect to pay for the luxury lifestyle you want to live; however, sharing the cost of owning a boat is far more cost-effective than buying one outright. It is a financially viable way of owning a boat, and it is far more cost-effective than buying the boat outright with a credit card or bank loan.

Less Hassle

Owning a yacht is a huge responsibility, when you own a boat,you have to take care of maintenance and crew and various other responsibilities that come along with yacht ownership. When you own a boat, you need to take care of everything connected to the boat. However, when you decide to purchase a boat through a fractional boat ownership scheme, you can offload those responsibilities to the company you purchased the yacht from. Usually, the yacht share network company provides the crew and you share the cost of the maintenance with the other buyers.

Get High-End Boats

When you purchase a boat through a boat share syndicate, you can afford to purchase a high-end boat because the cost will be greatly reduced. Therefore, you get more variety and flexibility when it comes to the boat you choose.

Fully Serviced Boats

Buying a boat with a yacht syndication group means that the boats are fully serviced. When you take over the boat during your allocated six week period, the boats can come with crew and various other services such as food and cleaning. Therefore, you can pack your bags, board the yacht, and spend a few days or weeks enjoying your luxury boat. At the end of your trip, you can pack up and leave. You can also surround yourself with the items that make you feel at home and when you leave, the items can be packed up and placed in storage until your next trip.

Great for Business Owners

Fractional boat ownership is great for business owners who want to entertain their business associates and clients once in a while. If you are a business owner, you could opt for business yacht ownership through a yacht co-ownership scheme. Doing this would mean that you save money, you reduce the hassle and responsibility of owning a boat and you get six weeks out of the year to entertain your business associates, existing clients and potential clients.

How do you share ownership of a boat?

Sharing ownership of a boat is relatively simple. This is how it usually works:

Decide on the yacht you want
Buy your share
Book the time you want to spend on the yacht (six weeks out of the year)
You can swap your yacht usage with other owners in different locations around the world.
You can upgrade your share at any stage

If you buy into a yacht timeshare, you are buying into a hassle-free, more cost-effective way of buying a yacht. You get to experience the opulence and exuberance of owning a yacht minus the responsibility and hefty cost that often comes along with buying and owning a yacht.

5 Reasons Why You Should Consider Shared Yacht Ownership