1990 Wellcraft CC 20, 1995 Mercury 225 hp

Okay I looked at the boat this weekend. The hull bottom coat is pretty much gone. There were a few "chunks" in the fiberglass down the centerline of the hull...clearly from being grounded. The wiring sounds like its in trouble...lights work "sometimes", livewell does not work at all...those were the things I thought to ask about. Boat definately looked it's age. Should I be concerned about the hul or is this normal wear and tear.