I disagree completely. Putting 10K into a 1K boat will easily turn it into a 2K boat. I mean think about it, he's doubling the value of the boat as it sits. And this is why I buy my firewood in small bundles at Home Depot.Agreed and let me add, putting new electronics, tanks, lines , rigging will not increase the potential resale value.
My back of the napkin number crunching put the cost of owning an E32-2 at $12k/yr.Also, if you haven't priced out the other aspects of boat ownership, do so: Transportation of the boat (cranes, trucks), yearly launch and recovery at a boatyard, winter storage (if you are in the north), yearly bottom paint, mooring fees (mooring ball or a slip). Then there are the costs associated with maintenance and upgrades.
I could share my experiences with a Ericson 32-2 but if I did no one would ever buy one of these boats. It was not the boats fault it was the group owned mentality and complete neglect of the boat that caused these issues. I think the motto of the previous manager of the boat was, "what is the minimum we can do to keep most of the boat above water.1. Anyone own an Ericson 32-2 who can comment on typical issues with these boats?
2. Anyone near him who is more experienced and would be willing to spend a Saturday just going over the boat with him? Not a surveyor, a wise friend. I'd do it but I'm far away.