Silverton 40' 1984

I am in the process of willing to buy a boat. I have found a Silverton 40' built in 1984. This would be my first boat, and it would be my home. I plan to ask a live aboard, which means a lot of preparation.

The pictures speak by themselves. The boat is in a real poor condition. One motor is on the fly deck, the other one has not worked for a while. The hull is covered with coral, shells and algae. The heater does not work. All faucets must be replaced. There is a leak of water. The batteries seam to be dead. The inverter is not connected. There are bugs in the wood of the bedroom. The owner said that he had termites once.

As said a friend of mine, "you are buying a box, are you sure you want to do that? Nothing works on this boat. You can find a better deal with a motor and good condition. You will spend dozens of thousand dollars on this boat". I know she is right, especially because, if I buy the boat, the owner wants $25,000.

Well, the good thing about this boat, I love the inside. I see what I can do with that on an architectural point of view, carpets, wall covering, furniture, etc. I can open the windows and they are very large. I rent to own without a bank. This is a very exiting project to restore and bring back this boat on the Ocean. I feel at home in the middle of a very beautiful wild life. I have sea seals, birds and the Ocean is my garden (at least the marina, until the motors pull me to the Ocean).

I would have sea seals on an other boat, and I would still have birds and the Ocean, but I probably would have to only sit on the deck and I am not sure that I would like that. The condition of this boat will keep me busy for the next two years and my investment would not be lost. The same boat with the aft cabin and the enclosure can be sold $55,000. If I do all the job myself, that is a budget of $30,000, but if I work with external companies, I might be out of budget.

For the moment, I document, make estimates, and think about the financial solutions. It will take some time before I get my name on the title, but my first investment will be for a good layer, because "rent to own" also means to take all the repairs in charge while you don't even own anything. Well, I would buy with a bank, I would not own anything either. This boat is a living hobby, something I will enjoy to do and have fun. Something that can make me proud... or not. We'll see how the engine will go. This is priority number three after priority number two, the leaks !!!!