I agree with others here that you need to assess this complete boat/motor/trailer at this point before you start repairing items. Let's start with what you have: 1986 Grady Seafarer/? Yamaha 225 maybe/trailer. Let's say for the sake of conversation that you could go and buy a similar setup like this that is ready to put in water and use for around $6000-9000, depending on condition, electronics, newer motor, etc. Looking at this boat, I wouldn't count on electronics, outboard, etc being low hour newer equipment, so we are probably looking at the lower end of estimate numbers in value, which is around the $6000 area. Now what you want to do is evaluate all your repair costs and parts needed to get your boat in this basic, safe, usable condition. First consider hull repairs costs, including transom, deck, stringers, bulkheads, fiberglass cracks/damage. Included with hull would be condition of fuel tank and fuel lines going to and from it, steering helm and cables/lines, lights, horn, radio (vhf), depth finder/gps, safety equipment, etc. Next outboard repairs or replacement. Trailer repairs, tires, brakes, axles/hubs, lights, etc.
Now apply money costs for each of these items, and be honest about it, and see if the total surpasses the amount where you could just go buy same boat and go fishing tomorrow. I can easily see 100s of hours spent getting this boat in ship-shape condition, and if you enjoy this type of project, as I do, then it may be worthwhile. But if you are looking for a boat that will soon be ready to safely head out in the deep water with, as someone pointed out earlier, it most likely not be this one. Do a good thorough assessment, get the best costs you gather, and weigh these against another similar boat ready to go, then make your decision. Of course, this is only my personal opinion.
Now apply money costs for each of these items, and be honest about it, and see if the total surpasses the amount where you could just go buy same boat and go fishing tomorrow. I can easily see 100s of hours spent getting this boat in ship-shape condition, and if you enjoy this type of project, as I do, then it may be worthwhile. But if you are looking for a boat that will soon be ready to safely head out in the deep water with, as someone pointed out earlier, it most likely not be this one. Do a good thorough assessment, get the best costs you gather, and weigh these against another similar boat ready to go, then make your decision. Of course, this is only my personal opinion.
