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I came across a 35' sailboat in my search for a liveaboard this past year that was first listed at $28k. In the past year the boat has sat seemingly unused and still for sale, the owner seemingly has dropped the price down to $18k. The boat seems to have a lot of other good things going for it, but the delamination is across 50-70% of the deck. I know that is a major repair, at what point is buying a boat like that worth it? Or is the structural integrity so compromised that it will never be worth it no matter how much the price is dropped?
A Coronado 35 in great shape might fetch $18-20K .. you can do better. It's not a great platform to begin with, a 'rotten' one's a non starter... that's a significant amount of delam and may only be the tip of the iceberg.
In today's market there's little need to risk such a venture.
I was just curious, I also came across a 33' Morgan Out Island that was running the same price including the slip, I'm just trying to figure out what will be best for me and my currently small budget.
You'd probably be better off to look for the best boat you can get for your budget rather than the largest. Starting off in the 28-30 foot range is going to give you a much wider range of boats (in better condition) to look at.
In the end you'll get a boat you can use right away.. the costs involved in 'great deals that need a little work' tend to escalate beyond what you'd have likely paid for the same boat in good condition.
Here's a link to a worldwide search for boats 28-32 feet under $20K (some results beat the price filter, but still there's plenty there and you'll get some idea of what's available in that range.)
I've narrowed it down a bit further for you. Here's 11 for sale between 15k and 20k in Texas. (Sail) Boats For Sale Texas TX
I agree with Faster - first decide if you would like a project or a boat ready to sail. And yes, you can do a lot better than a Coronado or a Morgan OI.
for my 2¢ based on very little experience except extensive looking at boats to buy, the decision you need to make first is whether you want to go sailing or boat building!
I looked at 'cheap' to 'free' boats that needed major work to go sailing, and at somewhat more expensive boats that needed little beyond new exposed woodwork and a really good cleaning. I chose to go sailing
The other thing to consider is that operating costs increase pretty steeply with length. You can trailer a 19 ft or 20 ft boat behind pretty much most smallish cars. But get an extra foot or two and you need a truck. Much bigger than that and you need a slip, with annual launching and haul-out fees.
I re-read that you want a live-aboard, so you've pretty much bought into the operating costs already. So back to the first thought: when do you want to move aboard? The more work you have to do, the longer it will take. I think a boat is too small to live on and do major work, though anything is possible if you put your mind to it.
I second Faster - buy the best condition boat that meets your needs (you fall in love with it ) and is within your budget. Allow twice the time and twice the money for any improvements! And go sailing, unless you really, really want to become a boat builder....
Just remember when you're boat buying, you want to buy a great boat at a good price, and that refurbishing a boat costs a lot more than buying the exact same make and model in good condition, since you're paying NEW BOAT PRICES for the gear and equipment you have to add/replace.
Also, cheap boats are generally pretty expensive.
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