Folkboats are good small crusing yachts well designed with good righting moment and proven history of passage making on a budget. My Flokboat is in good nick and I bought it 10 years ago and have lived on-board for the past 3 years full time I have improved it in this time by:
1. strengthening the mast and fitting larger stays, all halyards replaced as well.
2. replacing rudder gudgeons and pintles, soda blasting the hull and re-epoxy to the waterline only 5 cent piece sized osmossis found.
3. replacing all berth foams and covers.
4. install solar panel and regulator, three new batteries, shore power outlet and elcb board, new switchboard and a re-wire of all lights and navigation lights.
5. re-paint inside and out.
6. GPS and depth sounder and new compass.
7. new cooking stove installed.
8. new front hatch.
The contessa 26 is similar to a M26 Folkboat like mine my yacht I bought it for $8,000 and I love it thats why I have spent alot more on it to get to Mackay and sail in this lovely neck of the woods.
best of luck with your search and i will watch this forum for any further comments with interest.

9. new tiller.
My boat was a sad sight when i bought it and from a lot of hard work and preserverance you get what you want in the end every person has an opinion on the good crusing yacht but it is up to the individual taste to achieve your goals.