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Everything You Need to Know About Narrowboat Time Sharing and Part Ownership

 

If you've ever dreamed of spending your days drifting quietly down the English waterways and exploring the countryside, and your evenings in a cosy country pub or tucked up with a good book, then part-owning or time sharing a narrowboat may be the choice for you.

Find out more about the differences in each option:

narrowboat boats canal

Time Sharing

This is where you purchase the right to spend a certain amount of time a year aboard a narrowboat. When you buy in to one of these schemes, you are often called the ‘Owner’ by the management company, but you don’t actually own the boat in any way. The boat is held in trust by a club that owns a fleet of narrowboats for the purpose of time sharing them out to people.

 

In time shares, ‘Owners’ have little or no say in the way that the boat is managed; you may not even get the same boat each time that you opt in. You pay an annual fee to cover the costs of all the boats in the club, rather than contributing to the running of a particular boat.

 

On the plus side, this could be a good step in between hiring a boat for the week, and committing to part owning a boat, which can be quite costly. It’s an attractive option if you only want a short amount of time a year on the water, and is more flexible as many clubs are part of a larger time share arrangement and offer you the choice to spend a week abroad instead if you’d prefer that occasionally.

 

narrowboat boat canal

Part Ownership

For those of you that would a narrowboat of your own, but can’t afford the cost of buying one yourself, part ownership is the next best thing. It’s where a syndicate is formed of people who each pay for a share of a boat, and differs from time sharing in that this group of people actually own the boat until they sell their share, or collectively decide to sell the boat.

 

Each of the owners is then entitled to use the boat for a number of weeks a year which is proportional to their share; for example, if you bought a 1/12 share, you get to use the narrowboat for 4 weeks a year. Which weeks you get depends on the method used to decide, which can either be random, done on a rotating list basis, or ad hoc in smaller syndicates.

 

There are companies who manage the acquisition of the boat, as well as arranging moorings, insurance, boat licence, servicing and maintenance, for a fee of around £400 a year per 1/12 share.

The other option is to organise the syndicate yourself, which probably works best if you’ve got a group of people together that already know each other, want to part-own a boat, and have the time to manage it themselves.

 

It will cost you between around £7k and £11k to purchase your share, but be aware that you will also be responsible for the running costs, which over the years will probably amount to more than the price you paid for the share in the first place.

 

With the part ownership option, you face a bigger financial commitment, but you get the satisfaction of actually owning your own boat, which is likely to be of a much better specification than one you wold get in a time share arrangement.

 

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