I'm hoping to make my first sailboat purchase this year or next. A very pretty 1980 30' Cape Dory came on the market locally several months ago, but just out of my price range. However, the sale fell through because the survey showed engine has a blown head gasket, and the price has been lowered accordingly. It's now well-within my price range, although the repair will be a stretch.
Is it nuts for a novice to purchase a boat that needs a major repair? As much as I love the looks of this boat, it seems unwise for someone with my level of experience to take on a boat that needs major work. Should I just skip this boat and move on? I've been thinking about her for months, sorry she'd sold before I had enough saved to pay the original price.
(I don't think this is against the rules - here's a link to the boat Cape Dory 30