Restore or Buy something used?
 

First, long-time lurker and finally decided to make the plunge and join the website! I also hope this would be the correct place to ask this question:

I have a 1977 P&D 24' that's been in the family since my Grandfather bought it at a boat show in Miami back in the 70s. The boat was run throughout the 80s into the early 2000s but unfortunately has sat for about 10 years on its trailer. I remember running around in it as a kid and would love to breathe new life into the boat.

I believe we have a 350 small block chevy that we can throw into it, although we may even be able to go bigger. The boat would need a new drive, I would want to redo the interior and cockpit, the fuel tank should probably be replaced, new electronics/gauges etc and a fresh paint job. Majority of the work could be done ourselves although the fuel tank replacement and paint job would probably be done professionally.

At 22 years old, my budget to get it up and running again would be ~30-35k. My uncle would be assisting in the project as he was the one who use to run the boat and built engines for it so I would not be going at it alone.

So with that limited information and budget, is it a project I undertake and get her back in the water or is the better move to shop around and get myself into something thats pretty much ready to run and keep the P&D sitting for a few more years?

Redo what you have and then you'll know what you have !!!!

You have to ask yourself - how soon do you want to be boating? Restoring the P&D for sentimental reasons is a fine idea, and something you could take the time to do correctly when you're not hustling to get out on the water.

Restore sounds like it will be mint!A big plus is help from a person with past knowledge of boat!I say do it!

Tough to obviously judge budget wise because you never know until you're into the weeds, but does ~30k budget seem reasonable to restore it as mentioned? That seems to be my only real concern, that mid-way through the restore I find i'm running close on the budget with a lot of work left and that boat would have to sit for another few years.

If I go through with the project, it would actually be started relatively soon with the hope that it could be ready by next summer although i'm much more concerned with doing it right rather than quickly.

I've got a '77' pantera that's identical to your P&D.

I've got close to 40k in it right now. That's doing an over the top, best parts, job and doing it all myself.

That said, 30k will get you done but you'll have to shop wisely and do it yourself.

Check out my thread in the pantera forum.

Step 1: buy this boat- http://www.powerboatlistings.com/view/36986
Step 2: Jack up your gas cap and hull ID plate and place aforementioned boat underneath
Step 3: Use the leftover money for maintenance, beer and gas when you take your grandfather and uncle boating.

Post some pictures of your boat so everyone can see what you have to work with. Doing a majority of the work yourself will save a ton of money and time.