Need advice - buy or rebuild?

[scott_gunn]

I have two really young sons and don't get to use my boat anymore.  It's an 87 Osprey 200 with a 97 Johnson 150.  

However, I expect that in a couple of years the older son will start being old enough to go out with me and then the wife will start saying, "Go do something with your son for a few hours, I need a break!"  At that point I anticipate using a boat more.

Also, the wife thinks we will need a boat that has more seating than the current boat.

So I can either:
1) Sell the boat and buy another one in a few years.
2) Sell my motor (don't want to leave a motor sitting idle for a couple of years) and rebuild the boat as I have time.  I would:
     - close the transom and build corner seats or a bench seat on the transom
     - refurbish/rewire the console - new switches and gauges
     - replace or refinish the gas tank
     - buy a newer motor when I'm ready to get back on the water
     - new leaning post & baitwell

I'm leaning towards #2 because I have a couple of years to do it, and buying a new boat will be very expensive and it still probably won't be setup exactly the way I want it.  Rebuilding over 2 years will let me spread out the costs of the rebuild and doing the labor myself will save a lot of money.

On the other hand, I don't really have free time to be rebuilding a boat.

Anyone got some wise advice for me?

[LilRichard]

Well typically rebuilding a boat is something you do because 1) you want to... and 2) you have time to do it.  It sounds like you have number 1 taken care of but not number two.  

However there is an opportunity (depending on age, etc) that you could involve your son in the rebuild... then it counts as "bonding time" and not just boat rebuilding time.  

But if you just want something to use and have no interest in the "joys" of rebuilding, go buy another one.