One thing that no one seems to have pointed out. Often, buying the same make/model boat in excellent shape is far less expensive than buying it in "fixer-upper" shape and restoring it. The price difference may only be a few thousand dollars, but the costs in repairs it saves you may be in the tens of thousands of dollars.
This is one reason it generally doesn't make sense to upgrade electronics in a boat you're about to sell—it is almost impossible to recoup the costs of the upgraded electronics in the sale price. A new suite of instruments, like the Raymarine ST60+ Tridata with wind, may well cost $2500, not including installation... but to the buyer, it is only generally worth $300-500. This is true of most upgrades on boats.
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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.