Yep it all comes down to how deep your pockets are abnsd hull condition.
Buying an older boat.. Always in your budget, no matter what, keep a few grand back..
If current engine proves no good.. you can replace..
A hull (and trailer) with no motor is worth next to nothing.
With ours I held 8K back.
New jackets flares, spare anchor type stuff..
Used it finding how reliable the engine was
Replaced bimini, frame and clears $1200
Replaced upholstery, carpets, all the wood work, panels my self about $150.
Re propped around $500.. several 2nd hand.
That was the 1st yr.
Then decided to re power...The original engine was reliable and mint..had to find a 140hp with 20" leg.. after 18 months found a 150 V6 with a 20"...bit more in the boat account by then.
Installed that, kept the old motor for near on a yr just in case the new turned out to be a lemon...Sold that net cosr $2000.
In the mean time moded the anchor bow sprit, new seats, built a live bait tank, much bigger bilge pump for bars, upgraded the Sounder...
In amonst the above new keel rollers (turned them down myself from blanks) new wheel bearings, refurnished all trailer surface rust with POR, welded in better gussets, 3 new tyres..Made folding doors for cabin (ladies using toilet)..
Solar trickle charger for battery..
Re placed /re wired most of the boat wiring outside the engine looms..
Couple trips had maybe a L water in bilges...removed brass keel strip(on the trailer) drilled , dried/ pluged screw holes and re drilled , replaced keel...and larger winch/bow tow eye.)
Hope this sort of helps to give an idea buying an older boat..
Keeping in mind, Used to own a F/glass factory and KNEW had scored a solid hull with an original solid trailer (except couple bearings) and have the tools (if didnt borrowed or brought them) and skills to do most of it myself.
And 99% of it doesnt require a bloody PhD to do.
As to value...
I recon fair sell price would be around the 12 to 16K.
Total capital and maintenance/ repair investment over near 10yrs about 17 to 18K for all of the above plus a few things forgotten to mention.
Insurance value works out to around 25K (!!!!!)
reason is insurance values trailer , hull, motor and accessories over 1K separate then they add it up.
And motor is around 1/2 of that.