Another thing to consider in money terms is your hourly rate. If you make less twenty dollars an hour, spending 100 hours to do a job that would have cost $4000 dollars makes since, you can purchase an older boat and invest your sweat and labor in it. If you make $60 an hour you might rather go in to work for the exta 100 hours. Then pocket the difference.
That's the problem with these hypothetical discusions. It's debatable whether you could find the two boats in the conditions you've stated, for the prices you've stated. Then you have to consider what you will be earning ten years from now and how huch time you'll have to spend with your boat.
!! WARNING !! The above information is to be used by intelligent people only. If you are Stupid, could be considered a moron, or otherwise. You are instructed to disregard this information and seek the help of a licensed and bonded professional.