I would highly recommend you take a pass on this boat. You can get a boat in much better shape for only a tiny bit more money. Then you would spend your first season sailing, rather than restoring the boat. For instance, from another sailing forum:
1968 Morgan 24 For Sale, North Sails, 4hp Mariner, Battery Charge, VHF, B & G Instruments, Walker Bay Dinghy-All in decent shape.-$2500.b/o Boat is in Harpswell Maine. Mast Step, and Spring Launch included.-Ken-978-578-1783
It is less money and might be a better first boat. And it comes with more equipment and accessories than the one you're looking at.
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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Still—DON'T READ THAT POST AGAIN.