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5.0 mercruiser 220hp volvo gxi outdrive.
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That does not sound right. It should be Volvo Penta 5.0 GL/SX if it is 220 HP.
5.0GXI was not offered on SD in 2001 model. 5.0 GL is a carburetor model and I think you want an at least 5.0 Gi which is a Fuel Injected model with 250 HP.
Another thing, do you want a cuddy boat? I feel bowrider such as Horizon model would be a better mach for Family & Friend hangout as well as water sports.
My 2C