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There has been a lot of good advice presented from thoughtful owners. Whatever the OP decided, he really benefited from some wisdom.

As Young Mr Grace used to say at the end of the episodes (Are You Being Served?).... "You've all done Very Very Well!"
:)
 

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HANUMAN
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Agreed and let me add, putting new electronics, tanks, lines , rigging will not increase the potential resale value.
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. :)
 

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Barquito
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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 think boats that have been sailed regularly are less of a risk. The seller may not be completely honest about things that are wrong with the boat, but, if they were willing to sail it, that is a good sign.
 

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S2 7.9 Bear Lake, UT
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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.
My back of the napkin number crunching put the cost of owning an E32-2 at $12k/yr.
 

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Lots of comments about why NOT to buy this boat. I concur with what's been said. I bought a nearly 50 year old boat six years ago BUT—she had been cared for and sailed by a succession of great owners. Given good maintenance boats can last.

What can we do to help the guy out in a positive way? I can think of a couple things.
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.

Having said that...I would walk away too; I'm not good at long term projects. But I've also been where this is the one chance to have a sailboat.

One thing to the OP: I would pay particular attention to the annual costs several have mentioned:
- bottom paint
- launching (mast stepping/unstepping)
- slip fees
- low level every day maintenance (something breaks, you gotta fix it)
- are you willing to invest the time to learn to do your own engine maintenance? This was an unlooked for issue for me. My boat as a Yanmar 3gm30F and thankfully there are tons of videos on youtube of people doing things. So I've spent a lot of time watching and then doing.

And finally...what about an unlooked for oops? do you have a reserve. Example: first time out on our own on the boat, through circumstances i won't detail, our dripless seal was torn. That meant we barely made it back to the slip (we weren't very far out) but with water over the floor boards. Underneath those floorboards are the batteries. That was all up about a $2,500 fix. One event, one day, one fix. And it had to be fixed immediately because the boat was taking on water. I don't say that will happen but...I think most experienced people here can remember at least one incident where the boat suddenly had to have an expensive fix.

And none of it, as someone said upthread, increases the value of your boat to the next person. Which doesn't matter if you keep it a long time and enjoy it. Which, after all, is what this is all about.
 

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Discussion Starter #27
Thanks Pendragon35!
All great points.
Yes to all your annual costs questions.
The way I'm looking for a boat is a project boat where I can have it sitting next to my house for a few years and I can slowly put money on new rig, gear, and improvements as I get income. I'm more than willing to do the working and any kind of learning I get excited on. So I would not need to pay and launching or slip fee for a while -- then once I'm ready -- BOOM. I know I'm going to loose money. Probably more than any other hobby. I just know fixing a boat is going to be extremely fun and rewarding especially once I get her in the water and on some adventures.
:cut_out_animated_em
 

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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.
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.

What i did in my analysis of boat costs was look at an annual maintenance budget, fixed costs, motor sails and rigging replacement to determine around $12k a year to own a 32 foot boat. That factored in San Diego's expensive slip fees but almost no outside maintenance, upgrades or loss of equity during sale.

Issues I had on my E-32 because of neglect.

Soft decks mostly around the main hatch, the front hatch had to be replaced before I was onboard, I had to repair this also, soft spots around the Sampson Post. Lots of problems with the Atomic 4 engine also. Some claimed they were reliable, not my experience. I would buy another Ericson but survey carefully and likely get a -3 model, better layouts, faster and usually diesel equipped.
 
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