I got my first boat a few years ago, and to prevent myself from having an expensive albatross I couldn't sell in the event I didn't end up really using the boat, I bought an old cheap boat. I figured I could sink it and not cry, so if I hated having it, no big deal, no loan -- just pull it out of the marina and give it away on craigslist.
Turns out I love having a boat, but for my next one, I'm going to hire someone to do the blisters. I fixed about 150 or so on this boat --- what a nasty horrible toxic job. Never again!
Also, my next boat will have no teak on the outside, or if there is some, I'll sand off the varnish and let it weather. Boats with lots of varnished teak are beautiful, and I love looking at exterior teak on *other* people's boats. Learned that lesson too.