I'm currently sailing my ninth boat. I've finally learned that its a lot less expensive to buy a boat in above average or mint condition and pay more, than to rebuild
or repair old ones in lousy condition. I've actually made a profit on a couple of boats that I repaired and resold. However the costs of parts
and materials can easily exceed the value of an old boat. Good new sails
for a 26 foot boat will easily exceed $2500 or even used can get over $1000 Look for a boat in near perfect condition. You'll still find things to fix and it will end up cheaper.