Hello, looking for a little advice on buying my first sailboat.
I have experience on sailing smaller, open cockpit boats (laser, sunfish, etc), but since moving to Florida 4 years ago I have been really wanting to buy a larger boat with a small cabin for weekend trips.
I recently found a guy that has a 1973 Seafarer 24' that his handyman was fixing up to live on. It has been floating at his dock for two years, and then handyman moved away and gave this guy the title (in lieu of slip fees at his dock) so he could sell it. The guy who now owns it called it a "project boat" because it is missing the rudder and engine, so you wouldn't be able to sail it day 1. But really? Only down a rudder and an engine? It has the full compliment of sails, even a recently added spinnaker comes with it. Besides the barnacles needing to be scraped off the bottom, its in fairly decent shape. Its not perfect, but I want to work the boat anyway. Buying something seaworthy off the bat doesn't appeal to me in the least. But its been floating for 2 years without bilging so that has to count for something.
All he wants for it is $600, and I have done some research and seen similar condition models selling for $4k-$7k. But I have never purchased or maintained a boat on my own before, and although I am a very capable handyman, I don't know if I am just biting off more than I can chew. And to be completely honest, I can afford to buy it and put it in a wet slip but thats about it for a couple months. I will be in a much, much better financial situation in a couple months, when I was going to start earnest looking to buy something. But this deal just seems too good to pass up.
I would be willing to wet slip it and work on it for a while and be completely contented doing that, but I don't really want to have something I am going to dump $5k a year in maintenance on...
Need advice! Talk me into it! Make me come to my senses and talk me out of it! Help, help!