|Anyone have experience with shared ownership? My family is looking into shared ownership for a houseboat on Powell. Looks like a good deal, but I think it could be a nightmare.|
|I would think it will depend on how often you will use it. You need to weigh the cost on renting compared to owning.|
|The shared ownerships I have seen are similar to a time share. You can only use the boat one week a year. You purchase a small share of the boat and then pay a yearly fee. In theory, you can sell your share when you no longer want it. I think itís a better deal then renting, but is probably too good to be true. I could see myself stuck with co-owners that donít care for the boat, damage assessments and no way to sell. Iím looking for someone who has done this and had a good or bad experience?|
|I saw someone trying to sell a share of his boat on Powell a while ago here. I guess it would depend on when your week would be. Would it move around or always be the same. Maybe you could ask the person your buying it from for a couple other co-owners info and call them and ask them what its like. If you go there every year owning ones gotta be better than several grand to rent a houseboat for a week.|
|depends on how many owners, who manages the boat, how old the boat is, my first houseboat had 25 owners but was managed by a co. that took very good care of the boat. i sold my shares for what i paid after 2yrs. my second houseboat was a 7 owner boat that my buddy and i started and had built to our specs. my current boat is a 2008 sumerset 75x20 and its just a 4 owner , all owners are friends and the boat is slipped in antalope marina. shared owner boats are NOT TIME SHARES you OWN a percentage of the boat not just the time. happy to help with any other questions you might have. i have designed two houseboats and have learned a boatload of info. during the process......|
|We've had our shared ownership houseboat on Powell for 8 years. While it's not a top of the line, spiffy, elegant model (I think it's a 1995) it works well. Has 4 bedrooms, 2 heads, shower, generator, twin outdrives and you can drive from the top. It is sound in structure but lacks a little in cosmetics (it's not a Clampet boat, but it does show wear). We pay a yearly fee for the maint and slip (Wahweep). We get it the same week every year and in the off season we can use it whenever we want (but who wants to when it's freezing?). It's way cheaper than a rental and because it is we don't have to be stuck on a boat for a week with someone or some family we needed to make the vacation affordable. There are open weeks on our boat if you want the info, but like I said, it ain't fancy but it works.|
|Do a Craigslist search in cities like Phoenix, Vegas or LA. There are tons of houseboat shared ownerships available.... lots with prices dropping too. Seems like the kind of thing that people would unload when things get tight. |
Considering the prices of a rental, and the quality of some of the boats, I imagine the shared ownership would have some advantages.... like the boat being nicer, nicer furnishings, and the ability to sell your ownership after a while & not eat the "rental" expenses.
Sounds like mortbike has it down. Only having 4 owners would give you lots of time on the boat.