Don’t make the mistake of thinking of cost in terms of what resale value will be years later. You don’t recover your costs with a new boat, and you won’t recover them with a refurbished used one either. While you’ll probably get more than you paid, you won’t take a lot. What you spend is not an investment, but for your own pleasure.
As a broker I see numerous refurbishing projects, the majority of which lavish money on aesthetics but ignoring fundamentals. But surveyors are not impressed with fancy leather, Travertine marble and designer furnishings. They consider in structures and basic systems. Know that when it comes time to sell, your project will be largely judged by fundamentals, not aesthetics. If you shortcut the quality of basic systems, it will adversely affect the resale value.
Surveyors and knowledgeable buyers will be more impressed with good quality and attention to detail on basic systems such as machinery, plumbing and wiring than designer carpet and sculptured glass. It tells the observer that the seller knew what he was doing and put his money where it counted most, on systems that are sound and reliable.
Approached with knowledge and understanding projects can be fun and rewarding. Projects that are fully estimated, adequately funded, and with sufficient time allotted, usually move ahead smoothly and without major hassles. You’ll end up with a nearly new boat for far less than the cost of a new one, and one which will be a “hot item” on the resale market.
Keep always in mind that a clean and presentable boat can sell better from a “smelly” and neglected one!!!!!!!!!