Canal Boat Part Ownership?

Question

Thinking of buying a part share in a canal boat, anyone done, doing such?. Would appreciate any experiences good and bad! with costs if possible, thanks

Answer 1

well you have mooring charges,around £10.00 per foot in lenght(60footer would be £60.00 approx,then your two yearly slipping,taking it out of the water for scraping ,possible welding,and painting,electricity is either on a meter or prepaid card,and of course your diesel/petrol

hope this gives you some idea,have a look at waterscape .com for more info

Answer 2

"Canal Time" ??

For some reasons, Canal Time partners have a really bad reputation on the cut. For being arogant, speeding, rude and snobs.

No idea why but from someone who lives canalside and owns a narrow boat some do seem to live up to SOME of that cliche. I wouldn't dismiss this reputation lightly, it does affect the way others see you on the cut at locks & moorings.

There are a couple of (rude ) jokes that do the rounds about why canaltime boats don't have a front exit...learn those jokes and you'll get an idea of what people say about thier occupants.

Its useful to some people, removes the cost and hassle of owndership but they do look like "hire boats" without any personality.

plus side:

lower fixed costs

lower hassle

negatives ( compared to ownership ):

Higher "per week" cruising costs

reputation preceeds you

You are stuck with the "blocked locks" on turn around day.

standard boat - no personality

Answer 3

Rather than invest in fractional ownership of a boat (can you really call a depreciating asset an investment!!??!!).

I would place your money in a more traditional investment (stock market, mutual fund, etc.) and look at chartering a boat when you want to get on the water.

This will give you the freedom to get on the water on your schedule and terms.  You also won't have the long term commitment and the continuous shared cost of ownership.

Answer 4

Challenger and Ownerships are probably the best boat share Companies particularly if you are looking at ethical Management.  Personally, I would avoid any others.

We had a sixth share in a "Sea Otter" about a decade ago - the only one to be a share-buy, with a Service and Move Contract with the Sea Otter manufacturers.

It worked well enough while we were working and had limited holidays - fortunately 3 couples had to have school holiday time and 3 wanted nothing to do with High Season.

We worked out the calendar between ourselves at an annual lunch at one owner's house.

The big drawback is that you are committed to the weeks you have booked which could be freezing cold and pouring with rain.

As we approached retirement we decided to buy our own Sea Otter (because we don't like doing hull maintenance - see their web site) and we liked the idea of easy transportation around the UK and to Europe (never taken her to Europe but she has been trailed to several places around the UK for us which is a great time saver, e.g. Lichfield to Bristol (behind a 4 x 4)  to Walton on Thames via the Avon and Kennet & Avon, and back to Lichfield (behind a 4 x 4) in 8 days!

It's also great to know that all we have to do is drive to the boat - no packing or unpacking at each end of clothes, bedding, medicines, toiletries, games, etc.  Our boat is all ready equipped down to the smallest detail.  We can even pick up fresh food on the way or a bottle of milk at the Marina.

The total cost per annum of keeping our 30' boat in a Marina near Lichfield is around £1500 p.a. (including Waterways Licence, mooring, insurance and maintenance).  

We use her a lot as a Country cottage - nice spell of weather, have a few days on the boat, possibly take her to Fradley or the other direction for lunch.  We take her to Crick, will be going to the National Festival at Wolverhampton.

You don't get that get up and go when you feel like it option with a part-share, but you don't have the responsibility of owning.

Whatever you decide - look out for us.  We're 30' and peppermint green.  The kettle will be on!!

Answer 5

With part ownership you are allocated certain weeks that the boat is available to you, which could clash with family committments. With your share of the annual maintenance costs I personally think that a hire boat is preferable in terms of availability and cost or go the whole hog and buy your own, which is available anytime.