The luxury of owning a fishing boat or cruising vessel to call your own comes at price. It’s not only about buying the boat. That initial investment is then topped by various fees such as hiring skippers, stewardesses and other crew, moorings and maintenance. This ocean-going lifestyle comes at a price, and its one that few people think they can afford.

But the latest craze in boat buying – co-ownership – makes buying your own boat cheaper than you think. Co-ownership essentially means that you purchase shares in a luxury motor or fishing yacht. This in return gives you a certain number of hours each year, month or week in which you can use the boat. By only buying a portion of the boat you negate the huge financial obligation that comes with owning your own vessel.

As an added bonus, with boat co-ownership, you also have less hassle! Keep reading to discover some of the many benefits of co-owning your next boat:

Professional Boat Management Services

When you buy shares in a boat, you typically also buy into a boat management scheme. Much like a rental property or timeshare unit, the managing agents take care of the nitty gritty side of the finance side but also handle much of the other headaches that boat ownership entails.

Your boat management company will also normally arrange skipper’s training if you need it and may even be able to teach you how to drive your boat. They will also typically handle all the yacht cleaning and maintenance, moorings and staff, including arranging skippers, stews and even chefs for you if you want.

A good boat management company will take care of every last detail, meaning the only thing you need to do is step onboard and enjoy your day sailing or fishing.

This makes co-ownership the perfect boat buying option for those who don’t want the commitment of full-time boat ownership and everything that comes with it. Never mind the added expenses and hassle of trying to take care of your own vessel.

Get The Latest Boat At A Fraction Of The Cost

The latest fishing boat or sailing yacht may be way out of your price range, leading first time boat owners to look at second hand vessels instead. However, buying a second hand boat can come with its own issues and you are unaware of any damage or defects in the hull, electrics or engines.

By opting for co-ownership shares can choose from a variety of brand new boats with sophisticated shapes and styles. These boats are manufactured by leading well-proven brands and boast the latest in technology, comfort and safety features.

That is not to mention the clean and contemporary styling and open plan living that sleek modern boats have that lend themselves to when you want to play games now. With uninterrupted entertaining areas you can really stretch out, invite your friends and really maximise your time on the water.

By sharing the costs with other owners in a time-share style scheme you get access to all these features at a price that would typically be way out of reach.