Thanks Janice. The boat isn't free. The problem is that the yard was just taken over by a person who has no idea how to go about selling boats. Normally I wouldn't even have walked into the place but I saw this boat and it caught my eye. There is work that will need to be done and I'm sure it will take many years but I am planning on doing the Loop when I retire and I've got some years until then. In the meantime, I'll work on this boat little by little. The boat is in the water now...looking a bit tired but she seemed to perk up when I walked past her on the dock.
Part II of my answer is thus:
You're planning on buying a boat NOW for use in "many years" and that's a recipe for financial disaster. Let's just say for example's sake that your dockage is $500 a month. That's $6000 per year until you leave. (you do the math there)
Next, nothing stops failing just because you're not using it.
My Bebi Owl (anchor light) quit this past week. I'm not sure why (connections appear stable/might be the switch) but without me touching it, it failed. Nothing on this potential boat of yours will stop deteriorating while you wait to cruise.
However if you told me you found a 25' weekender you can use/play with today (this afternoon!) I'd say go for it. The bigger gems will be there when you're ready to go on the Loop -- even this one.
I just wrote an article for my website that offers a bit of restraint in the face of your current decision making process. It might be helpful:
Janice142 article Dreamer to Boater: Books
Use caution. Too many boats at marinas started out as a good idea, or worse, a great price and sit unused and falling apart. That always makes me sad. But the little boats? Those are actually used, and often.
I've been in Carrabelle for about six months (engine breakdown, and now an engine swap) ... on the river I'm anchored in, south side, there is ONE (o-n-e) larger (40+ feet) boat that is used regularly. There are dozens (two?) of little boats that go in and out almost every weekend.
Yes, on the other side of the river are a couple of sailboats (30') that are used regularly, plus one or two sports fish boats, and that's it. The Loopers come and go, but the local boats simple sit. Which is exactly what I've done while the engine issues are resolved.
That's not to say I want you not to boat -- I just want you to actually BOAT before you dump your wealth into a dream killer.
In My Opinion, of course.