I have always regretted......
I have always regretted the time I did not sail and instead was working on an older boat to bring it back to life (One of them was a Bruce Roberts 31/32 Cutter rig).After taking on 2 basket cases on 2 different occasions I finally decided that that was not what I wanted to do. I wanted to sail, not rebuild. In both cases I lost probably about $3,000 total and 4 years of my time. That is when I finally realized that "if you dont have much money" rebuilding is the one thing that you DONT want to do. It seemed that I either had time and no money or money and no time. I would sit on the beach and watch all the other sailboats out there and my 'dream' just washing away. Everyone is different in what they want. Again, do you want to sail or do you want to rebuild.....which will be your hobby for the next several years? Ross is one of the exceptions to the rule. He actually finished his project. I believe he said the cost was 30K and 9 Years. To him it was worth it. To me it was not.In your case, are you going to work on your boat in a free slip? This is much more difficult than if on dry ground. If on dry ground, will you get a free haul-out and free work area at a free boat yard or are you getting a free semi and a free crane to take it back to your house?If you have to buy a new motor and new sails, that will cost you more than a pretty good Catalina 30 in ready to rock and roll condition. If you are going to look for a used older motor than it seems pointless in rebuilding because all you will have when you are done is an old boat with an old motor which still can not be depended on. So much for the 'at least you know what you have' idea.Are you counting on free labor? Consider that friends move away, get divorced and get consumed in their own lives and numerous other reasons for not being available.After several years of losing the dream, I finally had a reality check. My plan was to do what some young people do in buying a house. Buy small and slowly upgrade. I had and sold a perfectly good MacGregor 25 and really missed it. That was a $2500 investment that I actually got back. I sold it to buy "my dream". After i sold 'my dream' for much less than I had into it, I had $5,000 in cash. I bought an older Catalina 25. It was in ready to motor and sail condition. I was back in Hog Heaven. It was not nearly as big as I wanted, but I was sailing again. Me and my significant other really enjoyed being on the water again. I eventualy replaced the motor with a brand new outboard and did lots of cosmetic work on the boat to make it much better looking. A few years later, I sold it for $7,500 dollars which is about what I had into it. It looked great on the outside and brand new on the inside. By that time I had already saved another $7,500 dollars for a bigger boat. I rolled the whole $15K into a Catalina 30. From day 1, I was able to sail it and motor it. The inside looked abused, the water tank was split, the AC didnt work neither did the head and many other things. I didnt care. I could replace all of that in time. My main concern was that it was safe to motor and sail. Within 5 years I had gradually invested another $15 into it. I had all new cusions, bimimi and dodger, new fuel tank, new water tank, New marine Heater/AC unit, new stove/oven and lots of other things. The boat looked brand new inside. When it hit 20 years old, my insurance Co. required a survey. It surveyed out to $30K.and we upped the Insurance to $30K. About 1 1/2 years later, Hurricane Katrina caused some damage and they totalled me out. I received total of $34K for the boat, personal belongings etc. Again, I broke out about even. After receiving my Insurance check, I immediately bought an older Allied 39 Ketch for $40K. This is $6K more than I received from my Insurance Co. It was a pretty good buy but not the deal of the century. Again......from the day I took ownership, I was able to sail and motor it. It can best be described as mechanically and structurally sound. Outside, the hull could certainly use a paint job. Inside, it still has that 1970's look.....woodgrain formica on the walls and everything is old. I intend to spend about another $15K on it over the next 5 Years in upgrading. It will have the potential of being worth more than I have into it.Anyway, my plan was eventually to buy a boat I could afford, no matter how small. It would have to be in motoring and sailing condition and I would take care of the cosmetics as my time and money dictated. It idint take all that long to get a larger boat. By the way, I have enjoyed every minute of all of my boats that I have actually sailed. I haved enjoyed very little of the 2 boats that I worked on and never completed. That dream wore off quickly.Take this info for what it is worth. Its your decision. All can do is relate my own experiences. Note that I already have had excellent woodworking, electrical and fiberglass skills prior to my failed endeavors.I wish you the very best in whatever you decide. That I sincerely mean. Tony B