Where are you waters? Covered berth? Many variables that may make a woodie viable. Find a good Surveyor and do not underestimate work and expense of replacing boards and ribs.
Good video of a restoration of a Nathaniel Herreshoff design class-racing sailboat. Very well heeled owner. Gives some idea of work involved to do absolutely right - better than new. I would not be surprised if this restoration was closer to $2m than $1m