Published at Sunday, June 03rd 2018. by beky audrey in Cruise Ship Cabins.
Before becoming a joint owner it would be imperative to find other people who have similar goals. I would suggest composing a preliminary DCCR (DECLARATION OF COVENANTS CONDITIONS AND RESTRICTIONS). You can do this before you even shop for a ship. Write your version of how you envision the shared ownership of a cruise ship as it should be. Then see if you can find some people who agree with your goals and your DCCR subject to some revisions and concessions to accommodate other joint owners.
Operating a cruise ship is expensive. The expenses include the cost of fuel labor maintenance repairs spares food port charges insurance technical management shore management registration and the other costs of operating the ship. At first glance these costs may seem expensive but in reality the cost of living at sea is actually a bargain considering what you get based upon what you pay. The best value does not always translate to the cheapest price. If the ship is well managed the management will seek the highest quality goods services and labor at the very best global value. If the owners are dissatisfied with either technical or shore management they replace them.
Let`s look at the numbers on this ship. 100% of the acquisition cost would have been $500000. 1% thus = $5000. One hundred buyers could own one percent each. There are 120 cabins so each co-owner could have a private cabin with 20 cabins left over. However these cabins are a bit on the small side. Every cabin does have a bath and shower but the size is just too small to be comfortable for most people especially if the owners intend to live onboard full time. On a ship this size I would recommend that there be no more than 60 joint owners so each can have two cabins and will have the option of converting those two cabins into a two room suite. To keep the numbers simple lets say that this ship has 50 buyers who each buy 2% of the ship. Buy in cost per owner would then be $10000. If there were only ten buyers then the acquisition cost per buyer would be $50000. $50000 will not buy much of a house on land but on this ship it would buy 10% of a ship like the Vergina Sky and twelve cabins that could be converted into a fairly large home.
The first obvious benefit of shared ownership is acquisition cost. There are many cruise ships on the market in all price ranges sizes ages and conditions. There are many smaller and older cruise ships available for less than one million dollars. At the lower end some smaller cruise ships in fair condition can be acquired for about $250000. At the highest end the biggest new mega cruise ships now cost about $500 million to build.
My wife and I were in a standard stateroom with a balcony (one of the Category B staterooms on the ship). Upon entering the stateroom we had two initial impressions. First of all the curved walls gave the room a very unique look (unlike typical cruise ship staterooms which are almost always rectangular with straight walls). The second thing we noticed is that the stateroom didn`t have a bathroom... well at least not in the traditional sense. You entered the stateroom through a door between a shower stall and a toilet stall (each with a heavily frosted enclosure). A curtain separated these areas from the main part of the stateroom which among other things included the bed a couch storage closets / cabinets and a sink. The advantage of having the sink outside of the toilet and shower area is that one occupant can use the sink while another is using the shower or toilet (a convenience that you don`t often find in traditional cruise ship staterooms). In addition the unique design of the stateroom provided much more storage space than is typically found in a conventional stateroom of similar dimensions. However despite that I found the stateroom to be very tight (particularly in the cabins that have the bed nearer to the entrance door than to the balcony door) and overall I must admit that I would have preferred a more conventionally designed stateroom configuration or one of the larger deluxe balcony (Category D) staterooms on the Epic).
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