Boaters are adventurers at heart, so it’s no surprise you may be offered an opportunity to live abroad to study, work or just spend a few years making incredible memories.
While in another country you might be wondering what to do with the boat you leave behind; it’s unlikely it will be worth the hassle and expense of taking it with you. Depending on how long you plan to leave, you might decide to keep it, but that may not be the best choice, no matter how soon you intend to return.
1. Donate It to Charity
You have very little time to transplant your entire life from one nation to another, so you probably don’t have time to try to sell your boat. Earn cash in the form of a tax deduction next year by opting to donate it. The organization arranges pickup of your boat, so you can cross it off your to-do list before the move. Click here to learn more about boat donation, tax deduction and the causes your boat can help.
If you think you’ll miss your boat and you plan to be back in a few years, remind yourself that you can always buy another one from the organization upon your return. Not only will it cost much less than buying a new one, but the money will go toward a worthy cause.
2. Store It
If your time abroad is short and you and your boat have a special kinship, you might consider storing it. Calculate the feesfor storing your boat into your daily living expenses abroad — even if you’re halfway around the world, some of your income must go back home to take care of the boat you’re not using.
However, if you intend to keep it, and you will be absent over the winter months especially, paying for storage is a reality you have to accept. You may also have to pay reduced insurance fees to keep coverage active in the event of damage at the storage facility during this period.
3. Lend It to a Friend
If you have a friend with space in her garage or yard, you might be able to arrange storage with her while you’re gone. If she’s a boater herself, you can agree to let her use it. Even if you don’t want people using your “baby,” you’re more likely to attract willing friends to take it in the first place if you let them use. It could be inconvenient for them to store your boat for months or even years for nothing in return.
If you lend it to a friend, even if he initially promises he won’t use it, check with your insurance to make sure you’re not liable for problems. Perhaps your friend doesn’t think he’ll use the boat now, but he might change his mind — after all, you won’t be there to know — and if something goes wrong, your insurance needs to be current and have coverage for other users. This could be another expense to worry about while abroad.
4. Sell It
If you don’t want to worry about storage fees, inconveniencing friends and insurance costs for something you won’t even be using, selling is your last option, besides donation. The one advantage is if you sell — and there’s no guarantee you will, especially if you have limited time — you get cash instantly, which you could use to offset your moving expenses.
However, sellingsomething as large as a boat is almost a full-time occupation, and you’re unlikely to have sufficient time. On top of all this you’ll be responsible for seller’s fees and arranging shipment. With donation, you may have to wait until next year for your tax rebate, but it’s much more convenient and may actually prove to result in more cash in your pocket.
U.S. News reports approximately 3 million Americans move to other countries each year.Don’t pass on an opportunity to experience life in a different culture because you feel like it’s too much of a hassle to deal with everything you leave behind; you may regret it for the rest of your life.
Even if you have large items like a boat, there are easy, hassle-free ways to deal with it. Donate your boat and get back to your adventure abroad.
Photo Credit By: arabiboatworks.com