Nothing wrong with Lidgard designs per se. I would, however, advise caution before taking on such a "fixer-upper". $8000 is not a lot of
money for a 34' boat, but even if you were to get it for free (and frankly, that is about what it is worth), you are going to be pouring a whole lot of
money into it before you "get it wet".
2nd hand boats are allways cheaper than the sum of their
parts. That is, adding up the value of a boats
hull, fittings,
engine,
mast 'n
rigging, sails, etc will always arrive at a figure greater than the boats value (to buy or sell). So, when you take on a fixer-upper, you are going to have to replace a whole heap of that boat's
parts - in your case, as a minimum,
engine, mast, boom,
rigging, sails, and by the looks of it a fair amount of the
deck and internal fit-out. The point being, that even though the initial outlay will be relatively small, you may well end up having spent more than you would have if you had bought a "turn-key" 2nd hand boat.
However much it is going to cost for a new engine, you can nearly double it by the time you actually have the
motor installed, aligned, wired-in, with new engine mounts, etc. Mast, boom and sails are not
cheap, even 2nd hand. You can't really buy 2nd hand standing rigging, so factor in the cost of new shrouds, forestay, backstay etc. and all new running rigging - halyards,
sheets, etc.
Also, be realistic about your skills. How good is your carpentry? How good are you will resins and
fiberglass and filler powder and fairing? There are hundreds and hundreds of hours of work ahead in getting that old girl back to her former glory.
I'm not saying that you shouldn't go for it, and I don't mean to sound like a kill-joy. I'm just saying that you need to be completely honest with yourself about what you are letting yourself in for.