20-30 yr old boats

[KODAD]

Hello all,
I'm a relatively new member, but have been lurking around sail fora for several months.
I'm on a flexible schedule, but have given myself a roughly 2-3 yr timetable to put into effect my plan of buying a liveaboard blue water cruiser in the 38'-42' range. I realize that ~15-20% of my budget will go towards refitting and provisioning as needed. As I have read the many posts here and at other fora, and books and articles, and as I have been sailing with friends on different makes and models of sailboats, and checking out all of the local marinas, I realised that some of my preferences/priorities have changed throughout the search process. But I have managed to come up with a short list of boats that will fit my needs. To name a couple; Island Packet, Mason, Tartan,Norsemen..ect.
My Question,
Most of the boats I like are 20-30 yrs old, is that too old of a boat? I assume (perhaps incorrectly) that if they're still being sailed, then alot have been refitted somewhere along the way. What are your thoughts, pros and cons, of buying an older boat?
Thanks,
Kodad

[Freesail99]

I think 15 to 20% of your budget for refitting and provisioning is a bit lite. Spares or spare parts that you should carry will take a large part of your budget. Systems that you need to replace may surprise you at there cost, even doing much of the work yourself.
As far as your question if a 20 to 30 year old boat is to old, it really depends on the boat or how it was cared for. Certain makes of boats were also more prone to blisters.

[teshannon]

Ditto what Freesail said. 20 - 25% is probably a better budget estimate. As to the age of the boat it is strictly a function of how it was used and cared for. I have seen newer boats that were driven hard and not kept up that looked much worse than one much older. I think the minute you step on a boat you'll have a good sense of whether the PO took pride in her or not. Good luck.

[camaraderie]

Kodad...nothing wrong with a 20-30 year old boat. Indeed...if purchased from an owner that has undertaken a re-fit..then you could have very little to do in terms of upgrades...BUT you will pay for that condition up front. Assuming a boat in more typical "decently cared for but not pristine" condition, I think it would be safer to allow 30% for upgrades in your planning...assuming you do not have major issues like blisters or widespread deck rot or an engine rebuild after survey. Still...a whole lot cheaper than new and maybe better at sea than some of the more modern hull forms geared more to coastal cruising.

[sanctuarysam]

you have the formulae correct, however, you neglected your ultimate boat budget.
ok..i'd take a 1968 Morgan 41, over most 15 y/o " "blue water coastal cruisers."
another incredible "older" boat is hinckley..my first choice, if i had unlimited funds. most of the hinckley owners have taken exceptional care of their vessels. be prepared to spend big bucks to get an amazing "older cruiser."
halberg-rassy is another serious 'build'..

[sailingdog]

Kodad probably got the 15-20% number from one of my posts, which is what I generally recommend be held aside for refitting, upgrading, repairing a boat you buy. However, in preparation for a bluewater voyage, this number needs to go up. Long distance voyaging requires additional spares and equipment that coastal cruising does not. The numbers I suggested also didn't include PROVISIONING the boat, just commissioning it.

As for a 20-30 year old boat... if it is in good shape, shouldn't be a problem. The thing to watch out for is many 20-30 year old boats are now at the point where major systems need to be replaced, like the standing rigging, and if this hasn't been done, it is an expensive proposition and should be figured into your costs.