I don't know how long you've been looking, but it is very important to NOT be in a hurry! Take several MONTHS to familiarize yourself with any aircraft type you're considering buying, whether it's a J-3 or B707! The longer you prepare yourself, the fewer questions will pop up when the right plane comes along.

Believe me when I say you don't always get what you pay for! There are solid 150's on the market for $17,500 (they may not LOOK that great, but they're solid!) There are also Cessna 150's that are works of art on the market for $50,000, but that's no guarantee they'll even get off the ground!

Your first criteria should be a solid airframe, and a 1/4 to mid-time engine second. Airframe time doesn't mean anything on a 150 or 152, but higher times do help lower the price. Forget zero time since overhaul, due to infant mortality. You need at least a couple of hundred hours on an engine to prove it's reliability and economy. Anything more than mid-time drops the price a lot, but stay away from high time engines that are coming up on TBO. Overhaul at TBO is not mandatory, and high times don't mean the engine isn't solid, but it's obvious you will need an overhaul sooner rather than later.

There are too many good airplanes out there with complete logs to consider anything else. The more meticulous the logs the better. There are no deal breaker AD's to worry about, but they should all be signed off anyway. Avoid planes with recent long periods of inactivity which are hard on airplanes and engines, unless it can be proven that the airplane was properly preserved during storage and properly restored to flight, such as after an overhaul or restoration.

Don't pay extra for avionics or STC's you don't want or need! Don't take any web-based appraisal as accurate. Prices vary by location, season, and even stock market and other trends. Price ranges are very wide for similar airplanes, so when you find one you like with a high price, there is one just like it at a lower price.

Do ask the club membership for help! You will usually find sombody near the airplane that either knows the plane, or is willing to go look at it for you. Do plan on a pre-buy inspection with a third party mechanic. Never take the owners mechanics word on anything unless you know the mechanic, and then still get a third party inspection! Plan on an expensive first annual anyway!

Google the "N" number and serial number, and use the club's database to find pertinent information. Assume nothing! Ask questions, and put no money up front until every question has been asked and a satisfactory answer received.

100 hours in the first year isn't unusual for a new owner, expecially if you fly to Clinton! 50 hours a year is about average, I think (unless you fly to Clinton!).