Why choose a steel boat?
After reading a book by Bernard Moitessier and other ocean adventurers, many will choose a steel boat. The steel boat is historically the travel boat that can brave all conditions, including extreme latitudes. Choosing a steel boat in the 21st century can also be a guarantee of safety in the event of a collision with a UFO. But what are the real advantages and disadvantages of these hulls?

The advantages of steel boats
Uncompromising strength: a well-built steel boat can withstand all weather conditions and even collisions. It will often come out with a few dents, but should remain watertight.
Durability: well-treated steel is a material that lasts over time. Almost all large vessels (ferries, container ships, merchant ships, etc.) are made of steel, and many are over 50 years old. What's more, steel is easy to recycle.
Cheap and "easy" repairs: if there's damage, or even holes, steel boats can be repaired easily. All you have to do is cut and re-weld, and a good boilermaker will be able to do it for you. And if you're good with your soldering poster, you can also do it yourself.

It's easy to do-it-yourself: need to add a platform to your ship? Consider welding it on. Just try to keep it elegant and sleek!
Cost: you can find bargains and inexpensive boats. However, this advantage can quickly turn into a disadvantage if the boat is in poor condition. A steel boat in poor condition can be very labor-intensive, and you'll need to be prepared to spend a few months or years in the yard before you're ready to sail.

Disadvantages of steel boats
Strong, but heavy: steel is much heavier than other materials. For example, a 9-meter boat can weigh up to 7 tons, while the same boat made of fiber will weigh no more than 4 tons. This means heavy displacement and a different way of sailing. The rest of the boat will have to be sized accordingly: sails, rigging, ropes...
Corrosion: this is the biggest drawback. A steel boat is bound to rust, sooner or later. As the sea is an aggressive environment, boats need to be closely monitored. You need to be able to take apart every nook and cranny of the boat to make sure there's no rust. Generally speaking, the exterior of the boat is well protected by paint, and this is not where problems appear, or at least they remain clearly visible. Corrosion is more likely to appear inside, where access is difficult: under the sink, under the shower, at the bottom of the anchor locker... If you're going to buy a steel sailboat, make sure you can explore everything.
Insulation: properly insulating your steel vessel is essential, for both hot and cold. But insulation must be "removable", so that all parts can be accessed to check for rust.
Electrolysis: rarer than on aluminum boats, electrolysis also exists on steel boats. To avoid seeing your boat turn into a battery, you'll need to keep an eye on the condition of the anodes, and change them when the time comes. You'll also need to keep an eye on your electrical installation to ensure that there are no leaks inside the boat. And last but not least, you'll need to be careful not to make direct contact with any metal you put on your boat, such as an aluminum cleat or a bronze hull pass-through (in this case, prefer a plastic one).
Steel or not?
Ultimately, well-treated steel boats offer everything you'd expect from a blue water cruiser: durability and sturdiness. But all materials have their drawbacks, and you'll have to accept being heavier and less efficient, being meticulous about rust and electrolysis, and spending a few hours treating and painting corrosion starts. If you feel you can get past these drawbacks, then you might just have the chance to weld steel links with the sea.