Club Homepage Forums Classified Ads Buy & Sell - Everything But Airplanes To buy or not to buy...that is the question

I always tell people you really need to fly at least two hours a week to stay current and keep the airplane in good mechanical operation. Thats 100 hrs a year. Hung is on the low edge of that, If you were flying 50 hrs a year, you would be better off renting.

Two hours a week just seemed like a good number to me, to aim for.

Charles

The way I see it there isn't any hobby that the cost can be justified.
We do it for the rush we get every time we hear a plane,
see one flying or sit in our own birds.

If you can make the sacrifices needed to own a 150 or a 152 it will be an experience.

I read the magazine article, and found that overall it agreed with my costs – some were high, some were low, but overall worked out about right. One exception, the article did not mention personal property tax. In Missouri, an airplane is taxed at the same rate as an automobile of the same value, unless it is flown less than 50 hours a year, in which case it is taxed as a vintage vehicle, which is much lower.

I fly 150 hours a year. Mostly in three long trips of 25 to 30 hours, and then a couple of hours every week or so, less in winter.

Boy does this thread hit home! These past 2 weeks have been one huge emotional rollercoaster!! The guy I rent from was approached and asked if he was willing to sell his plane. Being a good friend he offered me the plane first. The plane is a 73L model with 7011hrs. 70smoh, and with T hanger and all the stuff, and junk in it!! $25,000. I have flown this plane for over thee years now and it is better than average shape. I have talk about this purchase to a couple of members of this club that I highly respect and have tore through the logs and talked to the A&P-IA who has serviced it, the bank and anyone else who would listen. One day I would be so high on owning it and the next day come down to earth and realize that I really couldn't afford it. My wife and family where 100% behind me getting it. But when it came right down to it and figuring all the expences I felt that I could not buy this plane and Keep it up to the standards of keeping it safe and well maintained. The biggest reason is of corse $$$$$$$$$$$!!!! It would more than double the cost that I spend now on flying. Although my wife doesn't enjoy flying she is 100% for me getting it! "What a Gal" But I feel that the money I would be spending for just myself isn't worth the 4-5 hrs. a month of boreing holes in the skys over home would bring. Will there be a plane in my future? Maybe, there are still options out there such as a partner or if Carl leaves me in his will!! ! But owning or renting I will still be flying which alone is a great thing that not everyone can enjoy! As a member of this club said to me, " you have to be comfortable with your decission" I am afraid that I wouldn't be! So as long as they leave renters in the club I will be seeing you at Clinton!!

That's about as honest and heartfelt a reason not to buy as I've ever heard. I'm sure the decision wasn't taken lightly, either way it might have gone.

There will always be renters here, Tim. In fact, there'll always be those who don't have a plane to fly or even a pilot's license. Like I told Jennifer, it's the people that make this place great...and a common passion for flying.

Now, just don't start preaching every Sunday.... Shoot...I didn't go there...

Hey Greg, Ive beat you to it and already made my way to the store where I purchased the 2007 Clinton DVD.. Even if I dont have a plane by then I may drive up there and make a vacation out of it for 2008

Billy-

As a boat owner, could you justify that cost? I sold a 21' trophy fishing boat about 8 years ago and never could justify that cost either. All in all, the cost is about the same with the exception that the boat burned way more fuel. Dry storage cost more than my hanger $300 compaired with $220 and there was far more work involvd. I bought it to fish the Chesapeake bay for strippers and when I figured out all the costs, I was paying about $500 a pound for fish. Was the cost justified? Hell no. Was it a whole lot of fun? Hell yes. Same thing with a plane, never attempt to use logic in justifing owning a plane, the numbers don't add up. I place a great deal of value in having a plane at my disposal, and in the condition I left it in.

Jeff,
Thanks!! Ive just sat down and really looked at my boat and its costs. Brand new $33,000.00, fuel isnt that bad with the 4 stroke, storage is $95.00 a month.. and no I cant justify it either..but the boat is for sale so when its sold, there should be no reason NOT to get a plane..You convinced me..so if I go broke, Im moving in with you guys..LOL

Billy, I have attached a spread sheet which gives my costs for my 150. You can insert your numbers in the the highlighted areas.

Geo.

The attachment failed.

Geo.