Refit vs buying

[Oblivioussaili]

Hi everyone. I have an opportunity to buy a sailboat. If you can call it that. It will meed a lot and I mean a lot of work to get it to the point I want it to be at. But with that said. I'll have the time and I have the skills to fix replace or repair most of it. From what I see from the pics it needs pretty much everything. See pics.

So my question is. Is it worth fixing or should I buy something that's all done ready to go but about 90% of what I really want?

[JPK]

What do you want to do with your free time- work on a boat or sail?

[Oblivioussaili]

Well be moving to panama this year. We'll be getting things settled to be able to sail full time but it will take a bit to get there.. so I'll have the time to work on it before I can sail anyways

[Mal Reynolds]

From the photos, will be cheaper to buy. The tools, materials & supplies (without labor) will end up costing more than just buying something in much better condition.

I wouldn't take that hull for free.

[Thomas1985]

If you are going to go that far go all the way and build a yacht

[MicHughV]

There are many similar threads on this forum.

Judging from the pics, it looks like a large boat. The quick answer is that this will take at least three years of pretty much non-stop work, plus, at a rough guess, $50-100K or more before it will see water.
Being out in the open, the weather will not be your friend.
If you plan on holding down a job on top of everything else, you can double what I just said.

Seriously, think twice here...and you say you might " buy it"....how much ??? Seriously, gimme and honest answer !!

[Mickeyrouse]

I’ll give you my experience. I did a complete total refit of our boat a number of years ago after it sank in a hurricane. Everything that could be replaced got replaced, except the fridge, which I eventually did anyway. Everything means EVERYTHING except cabinet work, deck hardware and spars. Wiring, plumbing, all electronics and instruments, pumps, cabinet hardware, teak rub rails, stainless cap rails, one toe rail, cushions, batteries, genset, fuel tank, switches, elec. fixtures, A/C, filter systems, head, engine- every possible hose. I repainted w Intetlux Perfection. I used 42 quarts of varnish. Rebuilt anchor windlass. If I haven’t listed it here it’s just an oversight.
I worked 8 hrs a day six days a week for 3 1/2 years. The whole thing cost about $130,000, including yard rental, crane rental, (twice) and re-launch transport.
My wife and I have great sentimental attachment to this boat, having cruised and lived on her for several years before she sank.
Upon survey, the surveyed value was far in excess of what we originally paid for her.
Our boat is an uncommon boat. Comparable boats even today sell in the range of the surveyor’s apraisal. The builder gave me a budget estimate of twice what I spent to do the same work, though likely faster and possibly higher quality.
I do not think similar results for similar experience applies to most sailboats of her size today. I think I would have no trouble finding a decent sailable boat of her size for half my rebuild cost. And 3 1/2 years of my time? Surely it’s worth something. I was also fortunate in that just about every skill used on our boat’s restoration I had used at some time prior- just not everything at the same time on the same boat.
And don’t even think about living on it while you work on it- that’s a guarantee for early burn-out.

[Mickeyrouse]

I forgot all chrome work, canvas work, sails, standing & running rigging. And probably more.