Club Homepage Forums Classified Ads Buy & Sell - Airplanes Only Budgeting for a 150/152

Hello all,

New member here, ~140 hour VFR only PPL, average skills (at best). I did most of my primary in a 152 and every time I get back in one I really want to pull the trigger. I am running some numbers and would love to hear your thoughts on the following. I hope it is not rude to sort of just show up and ask a million questions, but I really do appreciate any advice!

I'm in Denver (BJC), but with no illusions about flying a 150/152 into the mountains. My experience is in a 152. With that said, would DA be significantly more of an issue in a 150? The "mission" is me just flying around and occasionally my wife and I (~340# together) going on short hops together.

Is budgeting $100/month for a tiedown reasonable? Is an uncovered tiedown a terrible idea?

Is budgeting $1,200/year for insurance reasonable?

Is budgeting $1,000/year for the annual and $1,500/year for unplanned maintenance reasonable?

Is budgeting $500 for a pre-buy inspection reasonable?

How do you recommend thinking about an engine overhaul reserve? My first thought was the overhaul cost divided by (TBO minus SMOH) but I wonder if that is overly conservative.

Is, say, $2,000 on hand after the purchase a reasonable amount in case something breaks early that needs immediate repair?

Are there big budget areas I'm missing other than the purchase price, down payment, interest rate, acquisition cost (prebuy, travel, etc.), tiedown/hangar, insurance, annual, unplanned maintenance, fuel cost, oil cost, and engine reserve?

I would not complain if any of those numbers are too high (here's hoping)! Thanks for any and all help.

Mike

Hey Mike Welcome. Many of us have asked the same questions you have listed and many more. Your in the right place. I hope you are doing some searches as there is lots of information on the forum.

I'll be interested in reading what members say about the 150's performance at higher altitudes. I am at gross weight at full fuel with my wife and my 12# briefcase. Delmar's home airport is 49' above sea level and on a hot day 90 degrees + climb is not very good.

I pay about $550 for insurance and tie downs in my area are $30 per month.

Good Luck and happy shopping.

Welcome to the forum, Mike. We don't mind questions at all, and you're asking the right ones.

I've owned my 152 since 2001, and rented it from 1995 when I started taking lessons in it.



I'm a flat-lander, so I'll leave it to someone else to answer your question about flying in a high DA area.




Call the local FBO/airport and ask about the tiedown cost. At my airport, tiedown is free, my enclosed hangar costs $100/month. At airports back East, even a tiedown costs more than $100/month. The problem with uncovered tiedown is weather. In Denver, you'll be clearing snow from the plane often. In Kansas, the biggest problem is hail storms.



You'll be surprised that insurance isn't as high as you think. The biggest factor is what you want to insure the plane for (hull value). Most 150-152s are insured for $20K-$25K. The other factors are the size of your home airport (busy or not), grass or concrete runways, pilot's time-in-type, etc. Most of us pay no more than $800/year for insurance. Some pay as low as $400/year.



Those numbers are reasonable. In the early years of ownership, the annual cost tend to be higher because you might have/want to fix things that the previous owner put off.



That sounds reasonable.



Overhauling the engine in a 152 at a good national/regional shop will cost $18K to $20K. A local mechanic might do it for $12K-$14K. I think the best option is to buy a plane with about 1000 hours left before TBO. If you fly about 100 hrs/yr, it'll be 10 years before you have to "face the music".



That's a good number. Likely, you'll find somethings that you want to add/improve after buying the plane: new carpet, new seat covering, intercom, strobes, etc.



Some states/municipals have property tax or registration fee on airplanes. In Kansas, property tax on an airplane amounts to about 5% of the book value ($1000/yr on a $20K airplane). I had to pay that for a while until my plane became older than 30 yrs and is exempted.

Hi, Mike! Welcome to the club!



I'm over by Erie, based out of Parkland.

Even though 150s have less HP than 152s, they're usually a little lighter. Older model 150s tend to be lighter and have better useful load than the later models. I learned in 152s over in Boulder and have owned a 150. If you can handle a 152 up here, you'll do just fine with a 150.



Since I'm at a private airpark and don't pay tiedown fees, I really can't say. You'd have to call around to the local airports. The good news is that you have a few choices. Both Boulder and Erie are within easy driving of KBJC. In this area, a tiedown is not unreasonable. We're a semi-arid environment so moisture is usually not much of a problem. Big issues around here can be wind and the occasional risk of hail. My plane was tied out for most of it's life. It's only been hangared for the last 6 years.

The best thing to do is to fly often. Airplanes that sit tend to rot.

When my plane was tied out, I'd go and remove any snow or ice as soon as I could after a snow then fly the plane.



I pay around $500/year for insurance on my 150. It hasn't changed much since I bought the plane. When I bought the plane, I had less than 100 hours.



Annual inspections can vary widely, depending upon where you get the work done and the condition of the airplane. I use a freelance mechanic (A&P/IA) and my annuals are pretty inexpensive. I also don't let maintenance issues go until annual time so there usually are no surprises. There are some good threads discussing annual inspections and people's thoughts on them in the Tech section. As a starting figure, your numbers are probably reasonable.



Again, you'd have to call around. I would think that would be a good place to start. That's the base rate a few A&P/IAs I know quote for an annual on a 150 so I would think you would be able to get a pre-buy for around that figure.



When it comes to things like major overhauls, I don't think you can be too conservative.

Good luck in your search! Keep us posted.

Hi Mike. Welcome!

I am in Arkansas (just across the Mississippi River from Memphis, TN). Our airport is 212 msl, so usually DA is not a problem.

Your numbers are fairly conservative. I only pay a little over $400 for insurance. Tie downs here are $35/mo., and T Hangars are $225, including a charge for utilities. My annuals usually run around $600. I have a valve issue once in a while that costs between $200 and $800 to fix, depending on who does it and how bad it is. My radio has been giving me fits, and I have spend six or seven hundred on it in the last few months.

I don't set aside an engine overhaul reserve. I will just bite the bullet when it gets here. My all-in cost, flying around 60-75 hours a year, including fuel, oil, hangar and everything, averages about $5,000 a year. That is quite a bit of money, but probably not a lot more than others spend for country club membership, golf, etc.

I have an "airplane" checking account in which I deposit $400 each month. On an average year, I usually have a few hundred dollars left over.

Sounds like we are right there together, Hung.

So I figured I would check to see if anyone read my post and I am blown away by the responses. Thank you!! This is enormously helpful, and I have a good list of things to look into further, forum topics to explore, and places to call to refine my numbers. Just a few more if you guys don't mind:

I imagine it is significantly more convenient to make a purchase locally?

I see ads all the time in the aviation magazines so I assume getting financing is fairly straightforward? Good credit/would put a bunch down, etc.

I'm on Barnstormers, etc. all the time as I bet we all are, but is $20-$30k on the purchase reasonable?

Thanks again!

Good morning Mike.

This is the best type club in the world. You will find that out as you continue to participate, which I hope you will.

There are quite a few 150's under $20,000, but the better examples can run closer to your budget. There are some for sale here, which (and I am probably prejudiced) I think are likely the better examples. Look here first.

Good luck, and have fun.

It is certainly more convenient to buy a plane locally. Go to the local airports and look at the ads posted on the bulletin boards. Some sellers don't want the expense of advertising. Also, ask local owners/pilots if they know of anyone thinking about selling. Some owners who are on-the-fence might sell if the right offer comes along.



I paid cash for my plane. So have no ideas on this.



Most 150 and 152s are sold in that range. The 152s cost more because they're newer and are in demand by buyers from other countries, mainly in South America. You can get a nice 150 between $18K-$22K.