What would you do..redo older boat or...

[bigq]

purchase a newer one that does not need as much work. I can't make up my mind at all. I have had a new 60k boat and not fond of paying that much for a boat. I have been looking at older boats in the 1990-94 range and the price is range from 23k to 26k. Some need a motor and interior and other need an open bow cut and interior work. I am guess around 10k to put into it. The plus is they are larger, some 28'.
Then I see nice boats in the range of 40k to 45k that are much newer and would not need anything right away, but they are smaller 23-25'.
I kind of like the idea of redoing an older one,but i do have the wife and kids to think about and I need something reliable.
So there is the delima, what would you do?:D

[Jbb]

I ....for whatever reason....restore alot of things......A piece of advice....
When you size up your resto prospect....
1 Figure up your expenses ........and then multiply it by 3
2 Figure up your time involved component....and then multiply it by 4
Then you will come close to actual numbers...
If you want to learn ....go for it...but start small...There is no substitute for experience
If I had small kids I wanted to be with......I would buy new...

[Boozer]

If I was going to redo an older boat it would be a MUCH older boat. Most likely an all wood chris craft.
Redoing a 90-94 boat is like redoing a 93 Civic hatchback. Sure it will be cool but you'll end up putting more into then you anticipated and you'll never get close to what you put into it out of it.
With 40K in your pocket there are some SERIOUS deals to be had out there.

[sleekcraft80]

I have been working on my OLDER Boat for a long time. Sure, I will have a nice boat when I am finished, but I will never be able to get out of it what I have in it. So I guess down the road I will have to make it a "Hand Me Down". I would get something that does not require too much work or none at all and take your family out and have some fun

[squirt'nmyload]

i just went through this....the boat i had needed some work...i was more than willing to do the work myself but then i started to think about the time and money issues. i would've easily put as much as i paid for the newer one into my old one. i also wanted to be on the water sooner than later so i bought a newer hull that needed nothing, except my motor :) after taking it out last sunday i feel i made the right decision

[Jbb]

Is that like a disclaimer of some kind? :D
:D

[Baja Big Dog]

Visions of granger....I can write a book on it, wish I had half the money I put into projects that I only got a third of what I had into it out of it.
One of the advantages of getting old is that you stop and think before you take on a project, and ask, can I buy one like the I have when its done???
And I can tell that JBB has had the same experience that I have, his formula's are dead nuts!!:(
B.I. has a good point, but again when ageing you can give up a few "wants" and spend more time playing with your project!!!
Just my .02