It’s no secret that owning a boat can be a quite expensive and time-consuming pastime. However, there is a way to significantly reduce the burden to your finances and time. Introducing: Syndicate ownership and boat sharing. There are many thousands of successful syndicates already operating in Australia and around the world. Done with the right co-owners it can be the very best way to own and afford your dream boat. The key to making it work? Smart planning and a clear idea of what you want from your new boat. Here are 5 reasons why this might be the ideal solution for you. 1. IT’S LOWER COST There are several factors which will determine the true cost of purchasing and keeping a boat. Notably, the size and type, her age, and how she’s stored. On top of your purchase price, ongoing costs can range anywhere from $5000-$15000 a year, depending on these above factors. A far more appealing prospect when divided between two or more shareholders, wouldn’t you say? 2. THE MORE IT’S USED, THE BETTER CONDITION IT WILL STAY IN It might sound a little counterintuitive, but it’s true. Like most of us, boats like to be loved, cared for and paid regular attention. If they’re allowed to sit and do nothing for long periods of time, things deteriorate quicker, resulting in more work for the owner. 3. YOU WILL USE IT MORE You read that right. Syndicate members who’ve previously owned boats on their own, reported using their syndicated boat more often. It’s because the boat is often subject to a booking system. Once it’s booked into their schedule, owners are more likely to keep their booking and less likely to cancel. There are also less feelings of obligation and guilt if indeed you aren’t able to use it, resulting in more variety in your leisure time. 4. YOU CAN GO BOATING SOONER Do you fancy something bigger that will fit the whole family? Something built tough and reliable to adventure further afield? Or perhaps something to satisfy the passion you’ve had for a beautifully built timber boat you’ve always felt would be too expensive to own? Lower purchase price and ongoing fees and maintenances costs may mean that you’re able to get into the boat you want that suits your needs much sooner than you think. 5. SHARE MAINTENANCE TASKS AND CLEANING (OR HIRE SOMEONE) Keeping the vessel clean and maintained can either be done by the syndicate members, sharing the jobs around or dividing the cost up of hiring someone to do it for you. Either way, there’s either more help (many hands make light work etc.) or it’s more affordable. Over the years we’ve help hundreds of people buy and sell boats, as sole owners and syndicate members. would you like to know more? We’d love to hear from you! Contact Us
A SMART APPROACH TO BOAT OWNERSHIP:
