I've seen a Ferro boat that was undistinguishable from fiberglass in terms of finish - it is possible - I've seen that
one in 30 years..
This particular model appears (in pictures) to be spacious and quite nicely finished, at least inside.
But, and there's still a but; a couple of points:
- Its a large boat (yes, for a small price) Besides generally getting what you pay for, which in a 40' boat isn't likely to be much, if this boat attracts you due to its price you may well be hard pressed to keep up with the required maintenance budget. Moorage, storage, size, length and strength of gear are tied to boat size and displacement, not purchase price. If you can just afford to buy it, can you afford to keep it?
Second, this one may be a comfy liveaboard, but the free standing (read heavy) junk
rig does not lend itself to recreational sailing, or sailing upwind with any efficiency at all.
Finally, at 26 TONS this is one heavy 40 footer. Even the 80 hp engine seems a bit marginal to me, and I'd expect you'd be using it a lot.
Note, btw, that none of these issues has anything to do the fact that it's built of ferrocement. Whether it's one of the 'good ones' is still to be determined. And yes, insurance may well be a factor.