If you're in the market for a boat, sooner or later you'll be intrigued by some really low-priced boat you see. Hmm, you think, with the money I save on the purchase, I can turn it into exactly what I want.

The reality is that project boats can give you exactly the boat you want, but are generally not a good deal financially and most times the work takes considerably longer than expected. Many never end up in the water.

Carolyn Shearlock has seen many people buy project boats over the years. If you've never owned a boat before, she has some extra words of caution.

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Music: "Slow Down" by Yvette Craig