In addition to the financial burden, boat ownership also calls for a commitment to maintain a vessel in a sound condition, and that can be time intensive.
Fractional sailing has seen surges in popularity of late. And a timeshare agreement often eliminates a lot of the pitfalls seen with ownership.
Given it’s increased in popularity it’s now a lot easier to locate management companies dealing with shared boat agreements. A management company takes on all responsibilities relating to the sailing schedule, handles the maintenance, financial issues, as well as numerous other obligations that come with owning a sailboat.
If looking at sailing as a new venture, but prefer to start out at a fraction of the cost of actual ownership, than these timeshare arrangements might be the ideal solution. Fees to get started are often based on the overall value of a vessel and than split equally between the number of owners. Ownership can be split in varying degrees - it can be as low as a 10% share to a ¼ share or more. The rules will be set by a particular fractional yachting scheme.
In addition to buying into the timeshare agreement, it’s also essential to keep in mind separate fees for operating costs, these are paid on a monthly or annual basis. This extra expense is required for storage or mooring fees, insurance, fuel, on-going maintenance, and safety gear. Fees are calculated after taking into account the percentage owned.
A fractional yacht ownership scheme offers a viable means to enter the boating arena with an option to start sailing in a multitude of destination across the world, and that's all at a fraction of the normal expense. |
