Co-ownership site offers retirees life’s little luxuries

19 Oct 2016

The launch of website Sharebuyit.com.au, offers Australian retirees the option to purchase and use large-ticket luxury, lifestyle and hobby assets, while sharing the cost with like-minded individuals.

Similar to service providers such as Airbnb, Spotify and Uber, a new website called Sharebuyit.com.au gives users the chance to invest in luxury items, while sharing the cost with a co-owner. Boats, caravans, camper trailers, motor homes, collector cars, and high-end golf clubs are just some of the assets the website connects between co-owners, successfully delivering an asset ownership landscape.

Director of Sharebuyit Ross Quigly said the ability to co-own an asset allows all users to access an enviable lifestyle without the financial outlay.

“Sharebuyit takes the co-share opportunity to a new playing field – one where everyone – and in particular, financially-astute seniors, could benefit.

“After a lifetime of working, there’s also a lot of appeal in owning luxury items in your later years, from a bigger boat, motorhome or caravan to some ‘spoil yourself’ golf clubs.

“Co-ownership offers a more affordable return on investment than owning one independently, and frees you up to travel abroad without worrying about items left behind.

“You could also attain the grey nomad dream – owning a caravan but without overspending the retirement budget or restricting cash flow, and better still, someone else is helping to pay it off!” he said.

Quigly said Sharebuyit also provides ongoing cost efficiencies with shared ownership, running and maintenance costs.

So, how does it work?

Upon visiting the website, you can post or browse others’ posts to find a like-minded partner to instigate a purchase with. From there, it’s up to you to agree on where and what you are buying and use Sharebuyit management tools to co-own your new asset.

“Unlike a handshake with a mate or verbal arrangement with a family member, Sharebuyit provides members with a secure confidential contract, then an array of tools and handy tips for management of your co-owned asset,” adds Quigly.

Some of Sharebuyit’s useful tools include:

  Sharebuyit’s legal partners can tailor an agreement specific to your needs. 

  The membership portal offers secure cloud storage of all shared documentation such as ownerships and or 
contract copies, registration, insurance, and log book. Documents are easily and readily accessible by all 
parties, at all times. 

  An interactive bi-annual calendar inclusive of all school and public holidays provides all members with an 
easy to access tool to arrange their agreed usage schedule. 

  The log and service schedule offers members a simple interactive calendar to log service dates and pending 
payments. The calendar may also be used by the members to act as an engine log or tailored to any other 
similar requirement. 

  The website will also offer options for criminal background checks.