He hit a rock at about 7 knots and knocked a hole in the bottom. Said

That does concern me -- as we hit a container about 40 miles off california
scared the **it out of us... we took on water; but the pumps were able to keep
up until we could make it to shore.... (good tag line I saw: "There is no
better bilge pump that a scared sailor with a bucket")

The boat has a very low resale value. In his case he is 78 years old
and doesn't care, but you might.

I've never owned a boat that I sold for more than I bought it for -- I don't
look at it as an investment...

If the boat has integral fuel tanks it is possible for the diesel to
soak through the hull. Have seen a couple of boats with that problem.

Good tip - -I'll be sure to look at the tank the enxt time I go out with the
surveyor. I'm sure he'll check that too.

As regards to "sailing off". I would suggest that unless you have
"sailed off" before you do not sell the house for the first couple of
years - rent it. A large number of people lose enthusiasm for the
boating life style after a couple of years.

I've been around boats all my life; been sailing in the ocean @ 14. (single
handed)

We just cannot afford to keep the house with only me working.. (I can work from
anywhere)