This isn’t a money thing. Either way I go I’m not going to do a loan. It’s a is it worth my time question. Really I’m asking if I dump 30-40k in this would I end up with a nicer plane. Or buy a 50k plane and put 10-15k in it. Just trying to look at both ways to get the best bang for my buck.
In my opinion that is subjective to the airframe you're starting with. The better deal could easily go either way.
But that said, if you start with a good airframe and you do a total refurbishment I'd favor the refurbished one over the other one. You'll know the condition of every system and component from the outset and it should give you years of trouble free operation. The downside is that the refurbishment is going to take a significant amount of time up front.