And now for the opposite opinion...you don't need most of the swell things posted above. Sure, you can buy and maintain and later replace them if you like, but you certainly don't need these things.
Can't agree more.
Chall, here's the thing (for me at least). We bought our current boat in the US, flew there from NZ, had a look a the stuff that was obviously dodgy and fixed it. We took two weeks
to not only prep the boat but stock it with food and stuff, up-graded some safety gear. And we left for New Zealand - our trip home was 6800Nm. Most of the stuff on the boat today is either as we bought it or has been added (not replaced) and we're nearly 10 years down the track. I'm starting now to replace halyards, crack test my rig (not replacing anything unless it is singled out as dodgy), looking at a new headsail and so on.
Not all used boats are set to have all their major systems fail just because the owner is changed. That to me is a fallacy that is infinitely over-stated in the forum environment. Whilst I'm not suggesting there are not things that will fail, simply replacing half the moving parts of the boat just on principle? Well, I think that's what keeps half the would-be cruisers at home - it makes the business of voyaging unaffordable for the average sailor.
And then there's the decision - should I buy an old boat and replace every moving part at very considerable expense or should I rather look for a boat that's a whole lot newer that will come at the same overall cost as the purchase and subsequent re-manufacture of the older boat?
Replacing all the sails, the running rigging, the standing rigging, overhauling the engine, what else is there? If I was to buy a used boat and all this stuff was deemed to be due for imminent failure, I would just move on.
It's easy to spend someone else's money on a keyboard. Unless you have a serious pool of cash, refurbishing for the sake of it will keep you poor. And if you do have serious pool of cash, buy something better.
I'll probably live to regret this post.