Project Boats -- Where Do You Find Them?
Glen: You sound like me some 30 years ago. I took three years off from my studies after I graduated with my bachelor''s degree but before my masters degree. I bought a 25 foot wooden folkboat for $400 and once I got the ole girl afloat I moved aboard. I slept at on the duckboards that served as a cabin sole, and cooked on a one burner alcohol stove. I had a salad bowl for a basin and jerry can for my water and a bucket for my head, and it was some of the happiest days of my life.
As a 52 year old with a bunch of shelletal damage from my motorcycle racing days, I can''t imagine myself doing that today, yet as a yound man it felt like paradise.
I think that it was Jack who hit the nail on the head here. If you are not into ''all of the comforts of home'' type living, you cna probably get by with a much smaller boat. Perhaps as small as a 30 footer would do. I caution against stripped out hulks because even getting them rigged with minimal sailing, engine and living equipment can be so expensive that you can often buy a better boat for far less than the combined cost. My point here being "Keep your eye on the combined cost of the project when completed to a state that you can live with and not just the up front costs". This is a mistake that I have watched played out so many times in my life, not only in boats but in cars and houses as well.
The taxes issue is pretty much based on sales price except that in some states, in the absense of a notarized bill of sale with the price spelled out, they will go by a Bluebook value which on a fix-er-upper is usually way more than the boat is worth.