My (biased) opinion....
Well, I've had my '87 H31 for quite a while, and have been sailing it in SF Bay for a few years, and have taken it offshore a few times, and I think it's an absolutely fabulous boat.I think it would be ideal for cruising in Central America, and the Carribean, and into the Bahamas, or wherever you want to go, in terms of coastal cruising. It's easy to handle single-handed, or short-handed, and it is exceptionally comfortable for a boat of it's size. Beamy... lots of headroom, and adequate, though limited, storage room.The Yanmar engine is delightful, given adequate routine maintenance. It's extremely reliable, and very fuel efficint. Take a good look at the mixing elbow, and change all of the cooling system hoses if they are questionable. Replace the fuel filters, change the oil & filter, change the transmission oil,and carry spare belts, filters and an impeller, just in case. A little TLC and the thing will run forever.I've never had any compression post problems, but they do occur frequently. Your surveyor can measure the water content in that area, and that should answer that, one way or another. If the boat hasn't had any problems for the last 20 years, is should be OK. Or, if it has, they should have been dealt with by the previous owner(s).As a bluewater boat, though, I think you'll find that fuel capacity and water capacity are a bit restrictive. Moreover, in big swells offshore (especially with following winds and/or seas) the 'ride' can be a little uncomfortable, with a fair amount of yaw, expecially when you're surfing. The rudder seems to lose effectiveness in big waves when you're running, or on a broad reach; and I think that the shape of the stern is not really suited to larger swells, especially if the interval is small enough that they begin to steepen up and get scary. Also, the cockpit drains are inadequate if you get well and truly 'pooped.' On the other hand, it will lie to under bare poles really nicely, the force of the windage on the freeboard and the rigging is perfectly balanced by the rudder,, with the wheel tied to weather, if you want to cook a meal, mix a drink, or take a nap. Or all three.Bottom line... I wouldn't take my boat to Fiji, but it is a roomy, comfortable little coastal cruiser. It's a little bit 'tender,' initally, but it's fairly beamy for a 31 foot boat, and it stiffens up at higher angles of heel. It's a great boat for the price.Big winds, as we have in SF a lot of the time, are no problem. Big seas, however, can get a little bit exciting, sometimes... so you definitely need to pick your 'weather window' before you head out for any extended legs. I got 'a little religion' off Point Conception a few years back... but that happens to anybody in any kind of sailboat if they are there on the wrong day.Good luck - Rick