I seriously want to buy a 1989 Volvo 740 Turbo Wagon that's for sale locally (it would be my first Volvo), but the turbo is blown on it. The price, even with buying a reman/used turbo, is right in the sweet spot of my budget, but I couldn't afford to have a professional install it.

How difficult and involved is it to replace the turbo? I do most of my own mechanical repair work (oil changes, brake jobs, A/C repair, CV and axel replacement), so I know my way around a toolbox, but am I going to need some exotic/expensive tools to do this? Or am I going to have to remove half the engine to get at some bolt (like I had to with my old Honda to replace the alternator)?

Expect to soak the bolts for the downpipe, exhaust manifold, and the manifold brace underneath for a few days with pblaster to get them off. Otherwise you'll strip them or break them and have to cut them off, and the manifold adapter bolt is damn near impossible to reach with anything but a torch.

Beyond that, it's pretty simple. Just three bolts on the downpipe connection, one or two bolts on the oil feed, two on the oil return, one bolt for each of two coolant lines, 8 nuts for the exhaust manifold runners, and a few clamps.

Once you've done it the first time, you'll realize what you should or shouldn't put back on, and it'll be ten times easier the next time around.