S2 36 foot 1980 Help
We were in the same position as you 3 years ago. We knew the boat that we wanted and found one that had been on the hard uncovered in the northeast for two years. The boat had been well maintained when it was in use, so the interior had few issues, but the lack of protection and maintenance in only 2 years generated the following list of repairs:
-needed to replace all running rigging as they were stiff and filthy.
-needed to replace cockpit compass.
-needed to replace various graphic striping.
-needed to replace various plumbing system components, including hot water tank, due to inability for antifreeze to be effective for 2 years. Still have a plumbing system leak somewhere.
-developed clogged drains at lazarette hatches, causing rain water to overflow into compartment and rot out sections of aft stateroom bulkhead.
-also, above moisture in lazarette rusted out battery charger
-needless to say, batteries were not salvageable and had to be replaced.
-needed to replace bilge pumps (see winterizing).
-developed leak in companionway hatch that rotted portion of headliner.
-other stuff I''m not remembering at the moment.
In spite of this, the underlying boat was good and after doing the above and applying much elbow grease reconditioning gelcoat and teak, we have a great boat. Thank goodness the diesel checked out fine, or else we would have walked. We did, however, spend $10,000 for materials and equipment (I did much of the labor myself). We bought the boat for about $20,000 under market, so it probably worked out. Our original offer was $10,000 below market and the survey results yielded another $10,000 adjustment on top of that. The survey was critical to be able to negotiate that additional reduction, especially since the owner started out listing the boat at $25,000 above market (he hadn''t seen what had happened to it after he stopped using it).
The formula can work, but be very conservative on what you think you will put in to it, get a good survey, rigging inspection and mechanical inspection (you''ll probably pay about $1,200 for all three, but it will be worth it), and be realistic about the time you will spend bringing it up to condition. Good luck.