Sailormann: Thanks for your reply you provided a lot of information and I intend to take your advise on doing more research.
No problem - that's what these boards are for
As far as clarification on the use of the boat. Like i said before the main purpose of the boat would be just sailing along the coast and fishing. Will it be difficult to fish off a sail boat once its anchored ?
No - I don't think that there would be any difference between fishing from a sailboat or fishing from a powerboat.
As far as the Who question, it will not be a family boat. Its proly just going to be me and 1 or 2 friends.
This is good. Fewer opinions to consider when you are buying something.
Now as far as maintainance... exacly what other fees should I take into consideration? I thought a sailboat would be much cheaper than a motor boat especially if I "sail" most of the time and use a small 10 hp outboard engine.
It is probably going to be cheaper, but not by a huge amount. When you own a boat - motor or sail - you need to insure it. This can cost you anywhere from $150.00 to $5,000.00 a year, depending on the condition and value of the boat, the area that you are going to be covering in the boat (the farther you go, the more you pay), the material the hull is made of, the type and size of the motor... etc. etc.. It doesn't matter if you do not think that you need insurance, you are not allowed into marinas, yacht clubs or moorings without it. Once it is insured, you then need to keep it somewhere. Ideally, you will end up with a boat that can sit on a trailer, rather than one that requires a cradle.
A trailerable boat can sit in the driveway or the backyard during the winter, if you have, or have access to, a vehicle strong enough to tow it. If not, it has to stay at a yard or marina. You have done some research on that already and have a general idea of what fees can be.
Each season prior to launch, you need to examine the boat and repair any things that have deteriorated. If the boat sits in the water for the season, you also need to prepare the bottom with anti-fouling paint. The topsides need to be polished. You might need to paint or fix a firbreglass problem. Batteries need to be charged, lights need replacing, wiring needs to be checked, etc. etc.
Figure on a minimum of $500.00 each spring, which is bare bones for a small boat. You have to buy and upgrade safety equipment - fire extinguishers, flares, water-tight flashlights, PFD's... some years will be worse than others, but figure an average of $50.00 a season.
When it comes to the motor, maintenance and repairs are going to run somewhere between $50.00 and $100.00 if you have NO problems. Once you have to start buying parts - well - who knows ??? New 10hp motors run about $4,000.00 I think.
If you have a sailboat, you're going to need to replace lines, blocks, pins, and - at some point - sails. What you spend is anyone's guess but it would be worth your while to log on to the Sailnet store page here and check out how much those little pulleys and wires cost. Think in terms of hundreds, not tens of dollars. On the plus side, the pieces themselves can last for twenty years if you are not too hard on them. On the down side - it is not likely that the boats in your price range are going to have much new stuff on them. Chances are it will mostly need replacement.
Sails - they start about $1,500.00 for a small boat (under 20 ft) and can run up to $10,000.00 for something around 30 feet.
So what have we got so far ????
Insurance - let's say $250, Marina/storage fees $1,100, launch/maintenance/update $500, safety $50, motor $100, miscellaneous stuff $250.... you're looking at about $2,250 per annum. Note this is a minimum. I think that if most people added up what they spend, it would be closer to 4 or 5K a year.
So, while it is not cheap, it is no more expensive than golf, skiing, etc. and it's an awful lot of fun.
I will search the forums and do some more research please feel free to provide me with any links or advise
The best thing to do is just Google sailboats or sailing and follow the links. Read as many articles as you can - even if they don't seem to have any bearing on what you want to do, you will learn things from them.
Start here on Sailnet. There are some articles listed in the index. Read them and feel free to ask people here for help if you are having trouble understanding. Sometimes the lingo can be pretty confusing, and boaters seem to take pride in using the old-fashioned terms for things.
Good Luck and enjoy !
I'd also recommend that you take some more sailing lessons. If you spent the summer building on your sailing skills, and educating yourself about boats, when the fall comes you'll be in a fairly good position to find the right boat.