Boat Clubs: A Smart Investment or a Costly Luxury?
A lot of people just want to own a boat and never even consider the social aspect of this. We’re talking, of course, about membership in a boat club. This is a sort of association of boat owners where you register, pay an ongoing fee, and get access to all sorts of amenities like exclusive boat sails, free boat maintenance (for some issues), and better rental rates.
Still, like everything else boating-related, this membership is often accused of being a costly luxury. Let’s see if that’s really the case.
- Owning a boat is a huge commitment
You don’t have to own a boat to join a boat club. However, most people join because they or a family member or friend owns a boat. So, let’s say a thing or two about just owning a boat.
Owning a boat can have some financial benefits
Before we even start, it’s important to number all the financial advantages of owning a boat and, believe it or not, there are quite a few.
When you own a boat, you might face a lot of economic opportunities.
First of all, if you live in a tourist-heavy area, you could turn owning a boat into a business. You could organize tours, sell charter sails, take people on fishing expeditions, and even rent out your boat when you’re not using it. Sure, it’s not as cost-effective as renting out a private jet, but it can still be quite lucrative. This way, you can turn it into a potential stream of revenue.
While depreciation is much more likely and common, if you own a limited-edition model or a classic vessel and you invest a lot of time and effort into its maintenance, you could see the value increase in time.
Also, in some regions, owning a boat may earn you quite a few tax benefits.
It can be incredibly costly
Next, we have to list some of the reasons why owning a boat can be quite expensive in its own right. You need to understand that owning a boat (unless you plan to use it to generate revenue) is a luxury. So, regardless of what you choose regarding the boat club, this is something we just have to address.
The upfront costs of buying a boat are usually quite significant. This is why it’s a decision you shouldn’t be taking lightly. Now, a lot of people just fixate on the cost of the boat, which is pretty high, but there are other expenses to consider.
There’s the cost of maintenance and repairs, which are rarely cheap.
You also have to consider the costs of storage, docking, and acquisition of equipment like boating lifts.
Lastly, you have to worry about the depreciation. After a while, your boat will lose a part of its value.
- What do you get from a club membership
A club membership is a concept that comes with a wide range of amenities.
First of all, since you pay a fee, you get a chance to rent out a boat at a much lower cost. Of course, if you rarely rent out boats, the cost of membership could offset the cost in question, which means that the cost-effectiveness is situational.
Second, according to specialists from Your Boat Club, these clubs often have boat sales, which means that they’re an amazing opportunity for those who love boating and hope to own a boat at one point in the future.
In other words, you can rent out different types of boats and try them out for a while. This way, by the time you own your vessel, you’ll already be a seasoned sailor. You’ll also get to see what kind of boat is right for you.
This way, you can attend boating meetings and talk to boat owners. You can ask them about the old saying that the two happiest days in the life of a boat owner are the day they bought a boat and the day they sold it. You can ask for tips and suggestions. Frankly, this way, you’ll learn more about the boating lifestyle than you ever could through reading and online research.
Once you do buy a boat (and at an amazing price), you get access to some of the best mechanics and service people out there, which means that taking care of your boat becomes a lot easier. You also enjoy the privilege of already being a part of a boating community, not just looking for a way to join one.
- Advantages and disadvantages of a club membership
Being a member of a boat club has numerous advantages, the biggest one being cost control. You see, you’re paying a fee that gives you access to a number of services. It’s a membership card that will give you a discount on renting, buying a boat, and even maintenance.
The reason why it’s so great at cost control is that you pay a subscription fee that’s easy to anticipate and calculate into your monthly and annual budgets. At the same time, every time you actually have to pay for a service, you pay less, which means that it’s, once again, simpler to make it fit your budget.
If you’re frequently in need of these services, it could even be cost-effective to be a member of the club.
For someone who is new to this life, there’s so much training and education involved with the club membership to help you out. In other words, while this is a great idea for someone new, it’s even better in the long run since there’s always something new to learn.
The downsides are, of course, the ongoing fees. So, the membership will only be worth it if you intend to use the services quite a bit.
Wrap up
A membership in a boat club can definitely be worth it if you intend to use its amenities. It’s like asking whether a Netflix subscription is worth it. To most people, the answer would be obvious, but what if you don’t intend to watch a single show next month? Overall, while subjective, there are too many strong arguments to be made in favor of boat clubs for anyone to ignore.
