Refurbish; Turnkey; ... Something in between?

Sep 12, 2008
4
Hello - new to the list. This will be a question that likely doesn't
really have any one answer (or general consensus), but I'm throwing
this out for comment to see what comes back. Pure opinion is very
welcome, of course.

I'm looking to purchase sailboat (an Albin Vega is on the short list)
and I'm stuck going back and forth between:

(a) Finding a very expensive boat that requires extensive work (I
have moderate handyman skills and I'm able to learn. I have the time
to do so - I'm not planning to circumnavigate any year soon). This
approach seems to have the advantage of initial cost savings, the
opportunity to make the boat the way I really want it to be, the
fun(?) of the project, and at the end of the day, knowing every inch
of her and her systems. There's a Vega in the U.S. (of unknown
condition) that is for sale for well under US$1,000. That would be the
extreme end of this approach.

(b) Finding a turnkey boat that has been well-used and well-cared
for. Little will need to be done before putting her in the water and
going for a sail. The primary downside to this approach is the
opposite of what I mentioned, above (i.e., initial cost being higher;
I get what someone else wanted, and I'll be less familiar with all the
systems etc). However, I'm told that in the medium to long-term this
will likely be less expensive than refurbishing a boat. Sure, the
initial cost is higher, but the previous owner wont get full value for
all the work he or she has done on the boat.

(c) Something in between. Ready to sail, but possibly without all the
electronics or fit and finish I would prefer. I can get her in the
water immediately and over the first few years do upgrades at an
affordable pace.

I'm in Toronto, Canada. Living aboard someday is a serious possibility
(I'm a minimalist at heart - but is there any way to get my motorcycle
aboard? grin). My work may also allow me several months at a time
for long-distance sailing, so that is also in the plans.

Any comments from your experiences would be appreciated.

Kevin MacTavish
 
Oct 30, 2019
1,459
Hi Kevin, and welcome to the Vega Forum.
You made a good choice putting the Vega on your short list. I've had
mine for only three years, but other members on this forum are 'long-
timers'.

I looked long and hard at many boats, but kept going back to a Vega
sitting forlorn at a broker's dock in Sidney, B.C. I'd looked at
other Vegas in the past and was impressed with the amount of room in
them compared to some of the Alberg designs (Pearson Triton, Bristol
27, etc.) which seem quite cramped in comparison. Plus the Vega has
an excellent reputation for seaworthiness.

The following is my 2 cents (Cdn.) worth:
Buying an inexpensive boat (even getting a free boat) and fixing it
up can get very expensive. It doesn't take long for your investment
to exceed the market value of the boat, and you'll probably spend
most of your time working on it before it is in sail-able condition.

A 'turn key' boat might be hard to find. One advantage of going this
route is the improvements to the boat have already been
depreciated ... the owner will probably have considerably more
invested in the craft than the price reflects. Such a boat, if
truly 'turn key', is actually a bargain. A good survey is highly
recommended, and will usually pay for itself when defects are found
that can affect the asking price. Another advantage is you can go
sailing right away :)

Regardless of which boat captures you, in my opinion the best deal is
one that has been well maintained in the past, even though it might
show signs of recent neglect. Things like paint, sails, electronics,
upholstery, running and standing rigging can all be replaced
gradually while you enjoy sailing and getting to know the craft.
Finding one with a good reliable motor will save you a lot of
expensive headaches. You'll have the pleasure of being able to sail,
and at the same time put in some 'sweat equity' making repairs and
improvements.

And it's surprising how many things the boat doesn't really need once
you get out on the water!

Good luck in your search.
Peter
#1331 'Sin Tacha'