Over heated

[Duane10101]

Hi guys,
I own a 2001 Pajero 3.2 did. My car over heated last night, last all the water, The car starts but is very rough, I repaired the broken pipe and refilled the cooling system but water just gushed out of the front of the motor. So my question is, is it better and less expensive to by a rebuilt motor, or have my existing motor rebuilt. Does anyone have an idea what this would cost, I live in the Transkei, so Im most likey going to have to tow the vehicle to East London.
Thanks in advance.