I installed one on my prior boat,
(funny, I'm another former 29.5 owner that has a 410 now). I installed the motor and yes it required drilling a hole. It was not that big a deal. I bought a hole saw for my drill that the motor would fit inside, so that I knew ther would be clearance. Careful planning is necessary. Most important was to pick a spot for the hole with nothing behind it. Worked great for the 4 seasons I had the 29.5.