Originally Posted by Sanduskysailor
The $12,000 cost seems reasonable if the boat is in overall good condition. What condition are the hatches and portlights. Make sure the cockpit sole is thoroughly checked out by your surveyor. What about the sail inventory and roller furling. Replacing standing or running rigging can get expensive.
Bottom line- make a spreadsheet of all that you thing would need to be replaced or repaired. Add the total cost to your purchase price and see if it makes any sense. My guess is that the total exceeds $18,000 you could do better with a different boat.
I'm doing just that right now... I went down for a second inspection with my digital camera today and took about 80 pictures of every nook, cranny, crack, chip, and smudge I could find on the boat. I'm putting together a list of what I found. The standing and running rigging are in good working order. The engine looks to be in fairly good shape, and the hull and deck have no major damage.
Most of what I'm finding seems to be cosmetic issues that I can fix over time like:
- gelcoat cracks around hardware that needs to be rebedded
- screws missing
- mounting holes in the deck for things that were moved or removed over time that were plugged with caulk but never really sanded to blend in with the deck
- teak that could use some re-oiling or satin varnish
- sloppy pvc caulk around windows that need to be removed and rebedded properly
I'm probably a little anal when it comes to attention to detail. So I probably would need to fix things other people would just live with. I can see myself starting at one end of the boat and working to the other end on my free evenings knocking out each imperfection one by one.
I think I'll be putting a lot of sweat equity into this boat if I go ahead with an offer. But I think most of my expense is going to be in cleaning materials, caulk, gelcoat, epoxy, nuts&bolts, teak oil, wax, 3M pads, etc...