Awahl - when budgeting for the purchase and ongoing care and maintenance of any 30+ year boat you need to realistically evaluate whether or not you will enjoy working on it yourself. Any older boat will need continuous ongoing maintenance and repairs
. The survey you had done did not reveal everything that already needs to be fixed, much less the things that are likely to fail soon. And then there's the fact that the more you sail the more likely you are going to be to want to upgrade to better electronics, add a spinnaker
or asymmetrical, put a new barbecue on the rail and connect it o the house propane system, change to LED lights
, etc. etc.
From an economic standpoint, I would recommend that you get quotes from a reputable yard to have the work done that is noted on the survey and negotiate a reduction to the selling price to accomodate the repair
costs. IMHO $21k is a great asking price for an E32 but unless the boat is absolutely pristine and has all new sails and electronics you should be able to buy the boat at significantly less than that.
I paid $16k for my Endeavour 32 five years ago and although it was in better than average condition at the time I have put another $15 k or so into it since then (pulled and re-wired the mast with all new LED lights
, installed new compression plate under the mast support, replaced the standing and running rigging
, installed new holding tank
and sanitation hoses, new bilge pumps
, new batteries and charger, new autopilot
and chart plotter, new LED lihgts in the interior, etc.) some of it myself and some of it at a yard. The yard work is always at least twice as expensive as the original estimate, by the way. When I bought my boat there was a small section of delamination on the deck by one of the midships stanchions, and I removed and rebedded the stanchion to prevent the leadk but haven't fixed the delam problem yet.
So if you like doing boat projects on the weekends and have some tools and mechanical aptitude you will spend less money on the upkeep and repairs
, but either way you are likely to spend more on the upkeep than you expect.
None of this is meant to scare you away from the boat - I love mine and would recommend an E32 to anyone looking for an older boat. Just be careful about the purchase to make sure you have enough cash left over to keep the rum supply filled when you're outsailing!