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Buy or renovate?
 In this article we look at the options to buy a boat that is ready to move aboard or buy one that needs renovation or complete conversion.
This is going to be a very personal choice but if you are not sure which way to go we have a few pointers for both.
So let's jump straight in and look at buying a boat ready to move aboard.
If you are new to boating and are also thinking about living on a boat a vessel that is completed, in commission and fitted out as a liveaboard boat may be a good option. One thing to remember with buying a completed boat is they will always be more expensive than one that needs renovating on converting and the upside for you is less work on your part. You will always need to carry out maintenance on any boat but this is much less work than renovating or converting.
Now if you’re strapped for cash you can still buy a liveaboard boat that is fully fitted out if you look around hard enough. There are always some good deals to be had even for fully converted boats.
A good time to look is in the winter months where boats and houseboats tend to be cheaper.
Another option is to buy a recreational boat that is suitable for living aboard such as a narrowboat. Most narrowboats fitted out for the leisure industry come with most of the home comforts you would expect from a liveaboard one so this may be a good option. If you’re looking specifically for a narrowboat to live on it is surprising what you can find if you look hard enough. In the marketplace there are many thousands of vessels and if you keep your eye open you can always find a bargain.
So for the new people to boating and living aboard a fully fitted out boat ready to move on could be a good option.
But what if you don't have the money to spend and you are looking for a project, something that you can make your own mark on and fit out to your specification. There are many projects boats around of many different types so the first thing to decide is what type of vessel you want to live on and then go out and search for project boats that suit your needs. They are around but you may have to look hard for them but look hard enough and something suitable will always turn up.
One of the best places to look for a project boat is on the Internet, many of the boating websites have sections for project boats.
Here you will find many different types in the many different stages of conversion or renovation. Having had a quick look on some of these sites today I came across a 68’ MFV that needs converting but had a working engine and a good solid hull for £7,500. For such a large vessel this is a very good price but you must remember that you will have to spend a lot more money to finish the project and you should not underestimate the amount of time it would take to complete. Another vessel we found was a 36’ Motor Sailor that had been used as a liveaboard but needed refitting and a lot of maintenance as the vessel had been left standing unattended for many years. At £5,000 this could be a really good buy for some one that is wanting a boat to live on and use.
As you can see there are many project boats available and our advice would be to look very closely at what level of completion each boat is at. Some projects need an absolute enormous amount of work and money to complete and it would be advisable to get a Marine engineer to look at any boat first to advise you of the amount of work and money it would take to get the project finished. Of course if you are happy to estimate this yourself that would save paying a Marine engineer but sometimes a few hundred pounds paid to a Marine engineer could save you many thousands, the choice is yours.
When looking at a project boat for sale make sure you discuss with the seller whether or not the boat can be left on its current moorings and does the moorings operator allow you to do DIY maintenance on there moorings?
This can be a very important question as someone might be selling the boat because the moorings operator does not want a half finished boat on their moorings. If you have to move the boat then make sure you have secured a suitable mooring before completing purchase or arrange with the current moorings operator a time when you can move the boat to an alternative mooring. It is very important that you find a suitable mooring that will allow you to carry out maintenance and renovation on your vessel. Not all moorings allow this especially marinas so make sure you ask this question first.
Depending on the amount of work that is required on a project boat we would still advise that you have a survey carried out. This is mainly to check the condition of the hull and engine as these are the two most expensive things to repair on any boat. When looking at a project you should always ensure that the hull and engine are in sound condition. If they are not you will have to weigh up the costs of repairing these against the price of the vessel. It could still be a worthwhile project if you can pay next to nothing for the vessel but again it will be a vast amount of work and you will probably have two employ skilled labour to complete this, obviously at a cost.
It is not an easy decision to make whether to buy a project boat or a fully completed boat. Obviously your situation and level of experience may dictate which way you go. If you can find the right project at the right price you could have yourself a very nice completed vessel that is worth many times more than you paid to purchase and complete it.
On the other hand, as we said at the beginning of this article it is quite possible to get some very good bargains on completed vessels ready to move aboard. Look very hard and something will turn up.
If you are considering buying a project boat then think about the following:
1. Assess the purchase price against the amount of money you will need to spend to complete the project and then compare your total costs with a similar vessel that is already complete.
2. It is so important to make sure any project boat has a sound hull and engine. These should be your first consideration when looking for suitable boats.
3. When assessing how much time and money it will cost to complete the boat times this by three!
4. If you are going to use Marine engineers to carry out much of the conversion work then make sure you choose a company that has done similar projects before. We do not advise you to use general builders as renovating boats is a specialist job. General builders may work out cheaper but will not have the experience and knowledge so could work out more expensive in the long run.
If you plan to do much of the conversion work yourself, this will save you a great deal of money in labour costs and in my experience you will learn a lot and get the satisfaction of knowing that you have done a good job.
Project boats can be a very good option and we will provide you with some more detailed information in future articles.
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