The Chaser 29 was built by an outfit in Ontario for a time as an IOR half tonner, there was also a 33 made at the same time. These hull molds ended up at Bayliner/Buccaneer/US Yachts and became the Buccaneer 295 with a modified deck and interior plan. It was further modified into the US 30 - not to be confused with the Buccaneer 305 - a Bill Garden design.
Though today it's quite an outdated design, a good one would probably still provide some good round-the-cans racing in a local fleet. As a cruiser it will be minimalist - limited headroom and amenities compared to the later versions.
What area? Which boat?
".. there is much you could do at sea with common sense.. and very little you could do without it.."
Capt G E Ericson (from "The Cruel Sea" by Nicholas Monsarrat)
1984 Fast/Nicholson 345 "FastForward"