Love Cruising? 5 Reasons Why Yacht Share is Better Than Outright Ownership
If you love sailing, you might already own a yacht, or you might be weighing up the pros and cons of purchasing one. Yacht ownership requires a significant investment, you also need to ensure that you have sufficient funds to maintain the boat. That being said, boat ownership will allow you to experience sheer opulence, elegance and the ultimate luxury lifestyle.
When it comes to purchasing a yacht, there are several options. Today, we are going to zoom in on the two most common options, outright ownership and shared ownership.
With shared ownership, you share the boat with several boat owners and with outright ownership, the boat is yours, you get to have full use of the yacht as a sole owner.
If you are new to the whole yacht ownership world, this might be useful for you. Shared yacht ownership is a more cost-effective way of purchasing a yacht. Yes, you will share the boat with other people however, there are many advantages to sharing a boat as opposed to owning one outright.
How Does Shared Yacht Ownership Work?
Shared yacht ownership is also referred to as fractional yacht ownership or fractional boat ownership. You can either purchase a yacht through a private yacht share network, where you connect with a group of friends or associates to purchase a boat, you all share the cost of buying and maintaining the boat. Or, you can buy your boat through a fractional boat ownership company instead. The latter will provide you with a seamless and stress-free buying experience.
With shared ownership, each owner purchases a share of the boat. Typically, each owner gets to spend six weeks out of the year on the boat. When you buy through a yacht share company, they will usually take care of the maintenance and the crew and captain, thus eliminating the stress that is often associated with sole ownership.
Here are five reasons why shared boat ownership is better than sole ownership:
More Cost-Effective
Yachts are very expensive and even if you do have the disposable income to buy and take care of a yacht, it is a major expense. You can save a significant chunk of money by purchasing a yacht through a yacht share network instead. Instead of spending £40 million on a yacht, you can invest £5million instead and split the cost of maintenance with eight other yacht owners.
Saving money will allow you to invest the money you would have spent on purchasing a yacht outright on feasible investments that could yield a much greater profit over time.
More Accessible
Yacht ownership is typically reserved for the mega-rich. With fractional yacht ownership, you can access the lifestyle of the super-rich without spending astronomical amounts on purchasing a yacht outright.
3. Hassle-free
Yacht ownership is stressful at times, the uber luxury lifestyle is enjoyable but when you own outright, you must take care of all expenses and issues regarding the boat on your own. However, when you purchase a yacht through a yacht share network, you can offset some of those costs because they are shared with the other members of the yacht syndication group.
Typically, the yacht share company will take care of mainteance and they will hire a crew and captain on your behalf therefore, you won’t have to think about that at all.
4. Eliminate the Stress and Enjoy the Luxury Lifestyle
Eliminate the stress and experience the luxury lifestyle without the cost of sole ownership. This is one of the best benefits of opting for shared yacht ownership.
5. Make Full Use of the Boat
Often yacht owners leave their boats docked for weeks and months on end. However, when you purchase through a fractional boat ownership scheme, the boat will certainly not go to waste. Even if all members of the yacht syndicate don’t use the boat, some will definitely make use of it. Therefore, you won’t waste money on purchasing a yacht only for it to sit docked for months and months. Also, owning a yacht through a yacht share network is more eco-friendly than buying a yacht as a sole owner.
Yachts typically have a large carbon footprint therefore, sharing a yacht can drastically reduce the amount of carbon emissions by reducing the amount of yachts that are purchased overall.
Is Shared Yacht Ownership a Good Idea?
Shared yacht ownership is certainly a good idea if you want to experience the luxury lifestyle without the significant investment that often goes along with buying a yacht outright. The maintainance charges, hiring captain and crew, insurance, the costs are high. Therefore, if you could reduce this cost, you would reduce the stress of yacht ownership. You can elimiate the stress and just enjoy the opulent lifestyle.
Also, you get to contribute to reducing the environmental impact that sea vessels have on the planet. The luxury lifestyle is enjoyable but considering the environment is paramount in the 21st century.
New technology aids in the reduction of carbon emissions released by large vessels but you can also play a part by sharing a boat instead of buying one as a sole owner. Of course, you cannot save the planet, but if you want to enjoy the elegance of owning a yacht, why not do so in a more cost-effective, eco-friendly way? You will save money, reduce stress and reduce the environmental impact on the planet at the same time.
