mspano85

If so, what aircraft? When did you buy it? Why did you buy it? Do you love or regret the purchase? Is the cost a burden? Did it change your life? Any stories?

I one day hope to have the disposable funds to throw at an aircraft to be an owner. I'm just curious about hearing the stories of the ones who have made their dream come true.

Feel free to share!

N9373M

I was a member of a "medium" sized flying club until 9/11. Things stagnated until one member found a 1966 Mooney M20E locally that was the "bees's knees". 5 members of the original club splintered off and purchased a Mooney in Jan 2002. 5 guys could support the fixed and operating costs of the aircraft quite comfortably. It was the best of times. $200 monthly dues and 60/hour to fly her. No restrictions on how long you could take her on a cross country, no minimum/day charges. The Mooney was a "time machine" compared to locally available 172's. As part of my insurance building time (10 hrs), I went from CAE to Baltimore for lunch in a day.

This was "ownership" at it's pinnacle. No real scheduling conflicts, take the plane as long as you wanted her. For 60/hr you could scoff at the local FBO's 172 rate (138/hr) and it's daily minimum charge.

I was one happy camper. Then members moved, or needed cash. Aircraft shares were purchased from the remaining members, until it was 2 guys left. I considered buying out the remaining share, but I could only afford the insurance, hangar, annual, etc. After that, I could not afford to fly her

I have no regrets purchasing my share. Being able to fly at 3 am was as simple as calling the FBO to have her fueled and parked on the ramp.

I'd do it again in a heartbeat. She was sold 9 years later in 2011.

Timbo

What do you want to do with this airplane? What will you use it for? There are so many different types, costs vary from a used ultralight for less than $10K you can fly out of your back yard, all the way up to fast twins that cost hundreds of thousands of dollars.

Are you going to use it to learn to fly, or to travel to far off places, or just local fly-in's or what?

Remember you'll have to pay for insurance, hanger and annuals, weather you fly it all the time, or only once a month.

I grew up in an aviation family, my Mom had Beechcraft Muskateer, my Dad also had a J3Cub and was an IP. We lived right next to a small airport where I grew up listening to many, many different types of aircraft owners, from the Airline pilots who owned Pitts Specials and Cubs, to Doctors and Lawyers who owned Mooneys and Barons.

The bottom line is, get something you can afford, and something you can afford to fly often. Otherwise, nothing is fun or cost effective.

Up until a few years ago, I had a 65hp. J3 Cub. It was cost effective because it burned auto fuel and the insurance wasn't too bad. I loved flying it into all the little grass strips around my area, taking each of my 4 kids up for flying lessons, etc.

But then I did the math on it. With hanger, ins. and annuals, and fuel, I had to fly it more than 8 hours per month to 'break even' over renting a C150 at the local FBO. That's 2 hours per weekend, every weekend, year round. I rarely flew it that much. Some months I would fly it a lot more than that, but other months, when the weather was bad (summer in FL) I wouldn't fly it much at all.

A hurricane knocked the hanger down on top of it in 2004 and flattened it. I've not hat the time or money to rebuild it yet. Maybe, some day. I do miss it, but I also have a flying job already, so I get to fly at work. And the kids college costs are killing me, so I doubt I'll have another plane any time soon.

I would like to have a Cub on floats tied up on my dock, but it'll have to wait for the kids to get out of school. I've always liked flying tailwheels, low and slow in the Cub, or doing acro in a Pitts, but I'm getting too old for competing in a Pitts, so I'll probably get another Cub or a Drifter, Air Cam or a SeaRey: http://searey.com/

Dufur2003

I own a piper lance. I bought the airplane just after I received my instrument rating. I flew it all over the US just to build time with a friend of mine. We would get our paycheck on Fridays fill the airplane up and be gone for the weekend. That was the good ol' days when 100ll was cheap. Now it cost me about $100 an hour in fuel to operate the thing, so I don't fly it as much as I probably should. I also have a job flying so naturally when I get done flying for work the last thing I want to do is jump in another airplane. The good thing about having the airplane is if I need to get somewhere relatively quick I just hop in. The bad thing is I still have to pay hangar rent, insurance, and annual inspections whether I fly it 350 hours a year or 50. I spend around 7k a year on those things whether I fly or not. I have owned the airplane for a little over 5 years and I wouldn't trade my experiences with it for anything in the world. I do however have it listed for sale just because I hardly get to fly it anymore. One thing about airplanes though is, its easy to get into one and hard to get out of one especially with a bad economy.

Flint Stone

Over the years, I've owned 2 twins, a Twin Comanche and an Aerostar, 4 Cessna singles all being tail wheels. Currently have a C-195 that I've owned for 9 years. I have a hanger at my house and do the maintenance myself. Most of the aircraft have been bought as some form of project. Most have paid for themselves, but not all. To me it's a life style and hobby, I don't try to justify, or even figure the costs.

We have traveled the country and met some life long friends with these aircraft, and I wouldn't change it for anything! Expensive, yes, but what hobby involving something with a motor isn't?

SkyHigh

Currently I have a nice Cessna 150M.

Skyhigh

Timbo

That's the most "Cost Effective" way to do it, as a hobby, if you are an A+P, and have a hanger at your house (or a very near by airport where you own the hanger).

I have a good friend who is an A+P, he did my annuals for beer and parts money, but if you have to pay real money for a real mechanic, it can get very expensive, very quickly...and that's if he doesn't find anything wrong!

Another cost effective way would be to buy a kit, build it yourself, so you can then do the annuals yourself too, oh, and buy a house on an airstrip so you can keep it in your own hanger. Then you are down to just paying for insurance and gas. Or get a partner who is an A+P, and buy something the two of you can build or restore.

There are lots of other hobbies just as expensive as little airplanes, or more so, depending on how deep you want to get into it. Auto racing ain't cheap, neither is racing big sailboats, so pick a hobby you can afford, then it's all good.

STR8NLVL

If it flies, floats, or fornicates, it's cheaper to rent it than to own it...

Timbo

Absolutely cheaper to rent it, but if you "Own" it, you don't have to go find it to rent it, it's right there where you left it, and ready to go...except the wife, she's never ready!

;^)


A buddy just landed on my lake and pulled his brand new SeaRey up on my beach.

After he left, I went sailing on one of my catamarans.

When I came in from sailing, looking for some sugar, the wife was gone to the mall.

Two out of three ain't bad, but the one that performs the least, costs the most!

block30

One of my former flight students owns a plane, and has me on the listed on the insurance...yada, yada, yada, long story short...he is the controlling interest. Nonetheless, the ability to fly when you want, where you want, for as long as you want, without having to check with somebody first (i.e., renting) has value that is hard to put an exact dollar figure on. What is the price of freedom?

Also, as for insurance, you will probably do much better than the high prices flight schools have to insure their planes for. Also, flight schools usually have fairly high MX costs due to the 100 hour inspections. Plus, flight schools usually charge a wet rate, which figures high on the fuel burn side, so they don't get shorted. So, if you own a plane, you save by laying off on the throttle. Generally speaking, I wouldn't go psycho on the leaning to save a buck. I have heard from several folks who have burned up engines that way. One flight school owner stopped charging dry rates because the renters leaned too much and burned up his engines.

Another former student of mine is a surgeon, so $$$ aren't a serious problem, and by his own admission before somebody gets huffy with me. He rented Li,e a wild man the first year after getting his private, and then moved into a sole ownership 182. He couldn't be happier, particularly for the freedom part. He also enjoys mods he has put on, and knowing the condition of his plane because he obviously knows who has been flying it. The plane is not just a toy, but a time machine for visiting family and getting to the cabin.

Like Sky high, quite a few people own 150s and the like, because a fairly average person can be a sole owner and autofuel STCs are common. Shoot, you could maybe get a partner or so on a 150 and really keep the cost down! Keep us posted!

I really love GA, and wish my wife would let me fly more (currently, it is almost never ) I spend a lot of my time on GA websites like tradeaplane, barnstormers, AOPA, generalaviationews.com, and the GA pilots and owners forums.