Buy now and fix versus save and buy later

[Strygaldwir]

Frustrating is buying new and having it break 2 months out of warrenty. Then finding the minimum charge for boat labor is $75/hour! Want those batteries delivered $75 an hour. What that guage went out $75 an hour. and it goes on an on!

At least when it is older you don't feel as bad about replacing.

[SeaKing]

Originally Posted by Strygaldwir

Frustrating is buying new and having it break 2 months out of warrenty. Then finding the minimum charge for boat labor is $75/hour! Want those batteries delivered $75 an hour. What that guage went out $75 an hour. and it goes on an on!

At least when it is older you don't feel as bad about replacing.

I just figure I am making that $75 per hour but spending it on the repair, but I have learned more about the boat and systems

[rebel heart]

I work on my boat (required maintenance, not dorking around) about 10 hours a week. That's 520 hours a year.

Doing the math, that's just about $40,000 a year worth of labor savings.

[Boracay]

Some jobs on a boat take an enormous amount of time and some take a few hours. My current example is the hard dodger which looks to take about the same amount of time as a repower!

Other may have a different view but I would suggest if you are thinking about a fixer upper that the following jobs would take an inordinate amount (over 200 hours) of time.
1) Any rebuilding of the interior joinery - I am running about 100hrs/ft.LOA.
2) Repowering with a new engine/gearbox - 300 hrs+.
3) Hard dodger - 200 hrs+.
4) Rewiring
5) Installing tanks
6) Internal shower
7) SSB radio and aerial.
8) Rebuild rudder
9) Install depth sounder in steel boat!

In terms of cost I would expect the following prime cost items to run over $5k.
1) Engine/gearbox
2) Sails
3) Rigging
4) SSB
5) Hard dodger
6) Anchor windlass/wiring/cruising anchors/all chain
7) Heavy duty self steering
8) Inflatable/outboard/davits
9) Oversized winches

Some addition suggests that a boat in really good good condition can be worth way more than a "fixer upper".

I know that these can all be done cheaply but then I really don't want to find that cruising is "fixing a yacht in exotic locations".

[roblanford]

I have always bought boats that needed work because i could not afford the boats I wanted in good shape. I can speak from this experience that I made the wrong decision. If I could do it all over I would have figured out the best boat in the best condition that my money and or time working (at what I know best and can make the most money at) generating cash could buy. Working on boats is okay but sailing them is better. You will spend plenty of time maintaining a boat that is "Turn Key".

[shawnkillam]

Thanks everyone for all your input.
On the same general line if one could purchase a well respected older boat for the same price as a newer one with a lesser pedigree which way would you lean?
thanks SK

[Pblais]

On the same general line if one could purchase a well respected older boat for the same price as a newer one with a lesser pedigree which way would you lean?

Boats are never that simple. There are always 6 ways going a different way when comparing boats. It's best to keep the criteria simple. Think about condition and things you find that are nice. A well repescted boat in trashed condition is still trashed. It's not like people.

Some boats clean up and fix better but it's not always obvious which is which.