One year of being an owner

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I_Drive_Planes
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One year of being an owner

Post by I_Drive_Planes »

A year ago today I picked up my bright yellow 1966 Piper Cherokee 180 from Pitt Meadows, got checked out and brought it home. That started the best year I've had in aviation since I started aviating 11 years ago.

A wise person once said "A mile of road can take you a mile, but a mile of runway can take you anywhere"

That person was right! Over the past year of owning this airplane I have visited 30 airports in 2 countries, 7 states and 2 provinces. I put 102.8 hours on the airplane (113.9 flight time in my log book). Over the past year I have learned more about flying and airplanes than in the previous 10 years combined (to be expected considering that I nearly doubled my total time!). My confidence and skill levels have soared as I've gone through a series of firsts: first cross-border trip, first time landing off pavement, first time landing off airport, even the first time flying over 140 miles from home.

The ownership experience has been a perspective changing adventure all its own. No longer do I land, hand over the keys, pay my bill and go home. I have a whole new set of regulations to understand and comply with and decisions to make that directly affect safety and my financial well being. Unlike learning to fly an airplane, there is no training or handy course for owning an airplane. This forum has been my single most valuable resource through the purchasing process and everything I've dealt with as an owner. Thanks to everyone who posts bits of advice and your own ownership experiences!

Despite the challenges I would never trade owning for renting again. Owning an airplane has been one of the most rewarding and educational experiences of my life. Renting is certainly less hassle and very likely cheaper in the long term but this airplane is mine, I keep, maintain, and operate it how I want to. It's there any time I like, to fly whenever and wherever I choose without asking anyone's permission. That kind of freedom is what flying is really all about.

The costs are probably the most daunting part of buying an airplane. I divide my expenses simply: gas and other stuff. In the last year I spent a total of $13943 to operate the airplane, $5029 on gas and $8914 on everything else. At 113.9 hours flight time (the best comparison with rentals) this works out to $122.41 per hour, $44.15 per hour in fuel and $79.26 in other expenses. Prior to purchasing I was renting a 172 for $165 per hour (let's call it $180 per hour with tax). At that rate operating my airplane is cheaper than the rental as long as I fly at least 77 hours per year. My airplane is faster, more capable (800lbs full fuel payload), more comfortable (for the front seaters anyway), and much better looking than the 172 I was renting. This year's expenses show it to be quite a bit cheaper than renting the less capable 172, but that is deceiving. I've done no major maintenance (other than a new altimeter and a couple snags at annual) this past year and I haven't included any sort of reserve for engine overhaul or any other big ticket items. I think that on a private airplane keeping an overhaul reserve is a bit of a crapshoot. The last overhaul on my airplane lasted 1600 hours, this one could go 2500 hours, or when I bring it in for its annual this week the oilpan could be full of metal. I'd rather put the money into gas and fly the thing until it dies and deal with it then. I think that over the long term, as long as I fly often, the overall costs will be comparable with renting.

Despite similar total costs, cost is still an advantage to being an owner. The problem with renting (other than the lack of freedom that I alluded to above) is that the total cost per hour is billed every time you fly. As an owner most of your fixed costs are paid out at once, then your incremental costs (basically fuel) are much less every time you fly. I find for me, this is an important mental difference. For instance, on the last couple Father's Days I have taken my dad and brother to 108 Ranch for dinner (The poorly spelled "Hanger" restaurant has amazing burgers and really good food all around). In the rental 172 that would cost in the neighbourhood of $450, paid out that day. In my airplane that runs me about $115 (I make my brother buy dinner, so that's not a factor either way :D ). It's a lot easier to drop $115 for an afternoon of fun than $450. Between the cost induced mental block and availability of the rental I fly my airplane much more than I would rent simply because it's there. Since getting my licence I never flew more than 25 hours in a year, most years much less. In the past year I've more than quadrupled that and it shows in my proficiency and confidence in the machine.

The advantages of owning an airplane go far beyond a cold hard cost analysis and all the factors need to be taken into account when deciding to purchase or rent.

I've made a few observations along the way:

- I really like owning a yellow airplane, though I wouldn't be caught dead in a yellow car. Everybody's airplane is white with a stripe, my airplane's 20 something year old outdoor kept paint job gets compliments from fellow pilots and the public on a regular basis. (As the son of a bodyman I don't think the paint is so shit hot but the colour is nice)

- I love winter flying, but winter prep is a whore. I would really, really, really like to be in a hangar. I am particularly jealous of the guy who showed me his wifi enabled engine preheater and hangar thermostat.

- Having an airplane is great for the ego. When people learn that I am a pilot one of two questions is inevitable: "Do you have your commercial, or are you 'just' a private pilot?" and "Do you have your own plane?" I can answer yes to one of those. People often think I'm much richer than I am. How I'm somehow better off than a guy with $30000 worth of quads on the back of a $80000 pickup truck towing a $50000 holiday trailer is beyond me, but I'll take what I can get :D

- Back to the hangar thing, maintenance is a pain without a hangar. I have several phone numbers of AMEs but I can't really deal with any of them because I don't have a place for them to work on the airplane so I'm left dealing with an AMO which is more expensive (and understandably so, I'm not complaining about the cost for level of service that an AMO provides, it's just for most things I don't need that kind of service on a simple airplane like mine). I'm kind of playing the field as far as maintenance goes right now. I'd like to develop a relationship with an AME (or even the right AMO) that I can have maintaining my airplane in the long term.

- My Cherokee does quite well off airport, but its elevator authority is sorely lacking at low speeds. I have to be doing about 60 mph to get the nosewheel off the ground and I can only hold it off for about half a second after landing, that's not so good for rougher fields. I think my first actual mod to the airplane will be a set of vortex generators.

- I find it mind blowing how little most of the airplanes at the airport fly, why on earth do you own an airplane if you are just going to let it rot into the ground? I noticed it before, but I really see it now that I'm at the airport so much more often.

- Provincial transfer tax on a 49 year old airplane is criminal (especially when it doesn't apply to turbine powered aircraft, where they could really make some money).

- Buying an airplane is not the most worthwhile thing I've done in my life, but it's pretty damned close.
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Re: One year of being an owner

Post by CpnCrunch »

Yes, owning a plane is an amazing learning experience that you simply don't get when renting. I used to own a 172, but now just rent/borrow. Owning a plane is nice, but there is that constant worry about potentially scary maintenance costs. Also, if you park outside, there's always the worry about wind damage or humidity/dampness.
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Re: One year of being an owner

Post by Rookie50 »

I'm just less than 2 years in. And I did have a yellow car ---

Lots of similar comments.

300 hrs in the book with my plane. Have Learned a lot, and it's a different level of engagement (although I always treated the rental planes well) My costs are higher than yours being a hangared retractable, I estimate closer to 200 per hour (hangars arent cheap in GTA). Still a pretty modest bump over rental, that's all in, and a whole lot more airplane. And it was a good purchase, very, very few nasty surprises, for a complex airplane like mine.

Certainly, not that I didn't before, one thinks before slamming doors, controls, standing on the brakes, ect, when one is paying for all of the above. Treat it well, it's more likely to treat you well, I say.

Just got back from a long weekend in NYC. If you can deal with NY traffic and very busy controllers, suppose anywhere else is no big deal.....they were great actually.
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Re: One year of being an owner

Post by Posthumane »

Congrats on the first year!

I've owned my plane for just over 5 years now, though I don't fly nearly as much (only about 65/hrs between annuals on average which basically lets me break even compared to renting). I got into the ownership game early on in my flying since I hadn't even quite finished my PPL when I bought it from CpnCrunch. I'm still doing a lot of "firsts" on it as I'm expanding my comfort level in terms of longer distance flights and imperfect weather, etc. The much lower marginal cost per flight definitely makes a big difference even though the overall cost is similar - owning an airplane encourages you to fly more and leaves you with a guilty feeling if you don't do it for a while, whereas renting is the opposite.

Your comments are spot on, and there are specifically a few that stand out for me.
- Having an airplane is great for the ego. When people learn that I am a pilot one of two questions is inevitable: "Do you have your commercial, or are you 'just' a private pilot?" and "Do you have your own plane?" I can answer yes to one of those. People often think I'm much richer than I am. How I'm somehow better off than a guy with $30000 worth of quads on the back of a $80000 pickup truck towing a $50000 holiday trailer is beyond me, but I'll take what I can get
This never ceases to astound me. Whenever someone finds out that I have an airplane they assume that I must be incredibly wealthy, even though I drive a rusty 14 year old car. My street is lined with pickup trucks that cost more than my plane, the license, and much of the maintenance over the years combined.
- I love winter flying, but winter prep is a whore. I would really, really, really like to be in a hangar. I am particularly jealous of the guy who showed me his wifi enabled engine preheater and hangar thermostat.

- Back to the hangar thing, maintenance is a pain without a hangar. I have several phone numbers of AMEs but I can't really deal with any of them because I don't have a place for them to work on the airplane so I'm left dealing with an AMO which is more expensive (and understandably so, I'm not complaining about the cost for level of service that an AMO provides, it's just for most things I don't need that kind of service on a simple airplane like mine). I'm kind of playing the field as far as maintenance goes right now. I'd like to develop a relationship with an AME (or even the right AMO) that I can have maintaining my airplane in the long term.
A hangar would be the cat's pyjamas, but it seems that even the cheap ones where I live would almost double the cost of ownership. I've had maintenance done by a local AMO a couple of times, flew out to another AMO once, and had it done locally by an AME twice (once mostly outdoors on warm summer days, and once renting a spot in a hangar at $100/night). They all have their pros and cons, and this year it's going back to the AMO in another town which focuses mostly on private aircraft.
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I_Drive_Planes
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Re: One year of being an owner

Post by I_Drive_Planes »

Rookie50 wrote:
it's a different level of engagement
Yes, that's a good portion of what I was trying to get across in far fewer words.
Rookie50 wrote: I estimate closer to 200 per hour (hangars arent cheap in GTA). Still a pretty modest bump over rental, that's all in, and a whole lot more airplane. And it was a good purchase, very, very few nasty surprises, for a complex airplane like mine.
IIRC you have a 182RG, right? That's not bad at all for an airplane like that, less than I would have expected.
Posthumane wrote: The much lower marginal cost per flight definitely makes a big difference even though the overall cost is similar.
Marginal cost. Where were you when I was writing my post? I was trying to find the right way to put that into words and I wound up with a paragraph.
Posthumane wrote: A hangar would be the cat's pyjamas, but it seems that even the cheap ones where I live would almost double the cost of ownership. I've had maintenance done by a local AMO a couple of times, flew out to another AMO once, and had it done locally by an AME twice (once mostly outdoors on warm summer days, and once renting a spot in a hangar at $100/night). They all have their pros and cons, and this year it's going back to the AMO in another town which focuses mostly on private aircraft.

That's where I'm at right now. I had the first annual (combined with pre-purchase) done by an AME in Pitt Meadows, but Pitt meadows is two and a half hours from Prince George and I heard that AME retired to open a brewpub on Vancouver Island. I'm having the annual done this week by an AMO in another town that seems to be more geared toward smaller, piston engined airplanes. I haven't had any work done by them yet, but in talking to them they seem to be better suited to my needs than the local AMO that seems to concentrate more on larger projects. Not having them in town is kind of a pain, but if the service is good for the right price I'm more than willing to travel.
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Re: One year of being an owner

Post by Rookie50 »

Yes, it's a 182RG.

Yes, it's $200 per air hour though -- not total flight time -- and that's based on a good 150+ per year. So 30 bills, easy per year, Hangar, insurance, gas, good annual, with maybe.one good.snag or inspection --- plus say 4 oil changes / inspection. Not really a reserve built into that. Like most planes, half is gas -- 12 GPH / X $8.00, and 15k -16k more divided by the hours, tax in. Anything extra gets added, but the plane is "done".

I did have my mag go in Florida though, (and it was at time anyway) -- so there's another bill. Amortize engine and prop, (I did my prop upon purchase), you are talking.....maybe another $25 / Hr....so I'm easily $225 + on a very decent annual usage.

Don't think it's cheaper than renting...but I moved up a class, and it's a well equipped transportation aircraft suitable for reasonable IFR condtions (like yesterday). Highly recommend Nexrad -- great investment. And Im pretty sure I could sell it for what I've put in, given it's history and condition.

(Long term owners commence laughter now)
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Re: One year of being an owner

Post by BeaverDreaming »

Just finished the first annual on our 182 250 hours later (2 pilots). Unbelievably happy with the purchase as we've had zero problems with the airplane (a few that were due to a major lack in piloting and mechanical skills, oops). Even then maintenance costs were only ~$20/hr. Not bad for a plane that cruises at 125kts on 11gph. At this rate we are paying about $150/hr including annuals and overhauls.. Even when our luck runs out we should be ahead of the $165/hr flight schools are charging for a poorly equipped 172.

I'm also quite convinced we could sell the plane for more than we are into it if we sold it today, but I can't see that happening. It's just too much fun.
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Re: One year of being an owner

Post by Cadismack »

Great post IDP. Love your take on your experience which, looking at others comments as well as my own, suggest that we are all in a similar boat.

Entering year #4 for me. Slightly different background (former commercial pilot with close to 1500 VFR in various singles and twin turbos) but the experience of owning my first plane has been close to the same (note I don't fly commercially anymore).

Ownership for me hasn't been without more than its fair share of sticker chock though. Into my fourth year I've already o/h the engine and am just wrapping up some items that had been previously neglected. The rational part of me knows had I waited, saved and been more picky I would have (potentially) found a plane with far more bells and whistles... However I can safely say I have no regrets. Sure it doesn't help when you get big annual bills, but I am now confident in a machine that I know inside out and is mine to care for properly moving forward.

I guess what I am trying to say is that the anxiety of the big maintenance bills can kill a person's desire to own, but from experience they aren't that bad and once done it builds even more confidence in what you are flying knowing that things are safe (#1 concern) and there will hopfully be few surprizes moving forward at least for a few years.

All this with my neighbours and their collection of sleds, new trucks, atvs and rvs.... I have no desire to trade places.

Although renting isn't really an option for me, the utility of owning has been the most valuable. Family is an 18 hour drive away and airline options cost at least 500/person for a round trip. Fuel only is about 1.5 Wj tickets. With the four of us (granted we only need to purchase 3 tickets for now) I not only feel justified and vindicated when I fly, but it keeps the passion for flying alive and keeps us connected with family. 16 GPH makes it hard to justify the trips around the patch, but the 170+kts means to door to door times to see family compete or are better than with the airlines and always puts a huge smile on my face.

Already been to OSH, the far north and the wet coast; this summer we have what i am looking forward to as my favourite 'family road trip' yet. 9 Provinces, 6000nm and 7 weeks of aviation freedom; in my opinion this is the true value of ownership. General Aviation is a wonderful thing and I thank you and everyone else for sharing their experiences. Always hope to connect with other owners while on the road and swap hangar stories.
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Re: One year of being an owner

Post by love2fly14 »

Thank you for your post....
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Re: One year of being an owner

Post by Tailwind W10 »

I'll toss in a comment in the 'wish I had my own plane' column.

I'm a member of a flying club and renting is OK. I need to book a couple of weeks in advance to fly the Citabria, the only airplane in the club I have any interest in flying. A few weeks ago another member had a mishap, slamming the brakes. Now I'm grounded for a few months while the engine is torn down, and the prop and rudder are replaced.

I'm working on my homebuilt, but we're more than a year from completion, so I wait. At least I can use the time I would be spending in the air working on the project.

Gerry
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Re: One year of being an owner

Post by Old Dog Flying »

Yellow aircraft rule I've owned the "Boredom Fighter " for 19 years, poured plenty of cash into it and don't regret a moment of it. Fun, you bet. The photo was taken by a camera guy at YPK while turning close final for 26L..on my 70th birthday.

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iflyforpie
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Re: One year of being an owner

Post by iflyforpie »

Gawd all of those numbers are scary. Makes me glad when I finally have a plane that it will have a tiny four banger up front and I can do all of my own mx.
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Geez did I say that....? Or just think it....?
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Re: One year of being an owner

Post by I_Drive_Planes »

Cadismack wrote:Ownership for me hasn't been without more than its fair share of sticker chock though. Into my fourth year I've already o/h the engine and am just wrapping up some items that had been previously neglected. The rational part of me knows had I waited, saved and been more picky I would have (potentially) found a plane with far more bells and whistles... However I can safely say I have no regrets. Sure it doesn't help when you get big annual bills, but I am now confident in a machine that I know inside out and is mine to care for properly moving forward.

I guess what I am trying to say is that the anxiety of the big maintenance bills can kill a person's desire to own, but from experience they aren't that bad and once done it builds even more confidence in what you are flying knowing that things are safe (#1 concern) and there will hopfully be few surprizes moving forward at least for a few years.
One of the real positives when it comes to owning is that I know exactly how the machine is maintained and I'm able to make it how I want it, inside and out.

The idea of catastrophic bills can be intimidating, and I've seen that cited as a reason not to own but catastrophic bills can happen whether you own an airplane or not. The engine in my truck could crap out tomorrow, a tree could fall on my house, in fact at the end of March I became very ill, spent 4 days in the hospital and didn't work for a month. That's hard on the bottom line, but you find a way to deal with it and carry on. I'm sure that most owners would agree that in the context of pursuing one's passion, the risks and the bills are worth it (and not insurmountable).
Cadismack wrote:
Already been to OSH, the far north and the wet coast; this summer we have what i am looking forward to as my favourite 'family road trip' yet. 9 Provinces, 6000nm and 7 weeks of aviation freedom; in my opinion this is the true value of ownership. General Aviation is a wonderful thing and I thank you and everyone else for sharing their experiences. Always hope to connect with other owners while on the road and swap hangar stories.
Awesome, going on long trips and exploring new places is the best thing to do in an airplane as far as I'm concerned. I'd love to do Oshkosh, but I'm a long way off from being able to get holidays in the summer. Through a very unusual set of circumstances I was able to get a couple weeks off last August so I took the plane on a seven state trip to the USA, but that won't happen again for me for a while.
iflyforpie wrote:Gawd all of those numbers are scary. Makes me glad when I finally have a plane that it will have a tiny four banger up front and I can do all of my own mx.


Not that scary, you just close your eyes and swipe your card :D Then you go flying and all fears are alleviated.
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Re: One year of being an owner

Post by xysn »

I_Drive_Planes wrote: ... Buying an airplane is not the most worthwhile thing I've done in my life, but it's pretty damned close.
Best post on Avcanada lately for sure ... great information and inspiring!
I_Drive_Planes wrote:Not that scary, you just close your eyes and swipe your card :D Then you go flying and all fears are alleviated.
This is how I deal with the bills on old cars.
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Re: One year of being an owner

Post by Independence »

I imagine that none of the 'costs' included in the earlier posts don't include bank payments to finance the purchase. Anyway, my point is that the majority of the hourly cost of owning a certified private airplane are fixed or almost fixed like maintenance (an annual could be less for an aircraft that flies than one that is parked all year). To me that looks like a good scenario for partnerships. Your co-owners would have to be someone you are completely comfortable with and ideally they would have similiar skills and standards to your own. This might be one in ten pilots but it doesn't mean they aren't out there. Even something like an engine overhaul is a lot less scary when divided by, lets say, three.

If you are parked outdoor and have found an AME that is interested in working on your plane, try asking around if any hangar owners have an interest in renting their private hangar by the day for maintenance. Someone might like $200 to help pay their lease.
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Re: One year of being an owner

Post by PilotDAR »

I've been a proud owner for a while (I'll keep the numbers down, they only serve to may me appear old!) I really like knowing the condition and status of the plane all the time. It is ready when I want it, ind if it's not, it's my fault!

I landed on Lake Simcoe once, and a guy on a sled pulled up beside me. He mentioned that I must be rich. I told him that his sled cost more than I paid for the plane, and, thinking to myself that at some point in the future, I could expect to sell the plane for much more than his sled cost! My best investment ever! My second, not so much, but still good. My third awaits a rebuild, so we'll see once it's flying.... I'm hoping someone else will like it enough to make me an offer....

New pilots, save your money, and go buy a modest airplane - you'll be amazed at the freedom you find, and what you learn when you're free!
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Re: One year of being an owner

Post by I_Drive_Planes »

Old Dog Flying wrote:Yellow aircraft rule I've owned the "Boredom Fighter " for 19 years, poured plenty of cash into it and don't regret a moment of it. Fun, you bet. The photo was taken by a camera guy at YPK while turning close final for 26L..on my 70th birthday.

Barney

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Yes they do! I think I'm pretty safe in assuming that's the only Yankee on Earth painted in RCAF trainer colours, I like it!
Independence wrote:I imagine that none of the 'costs' included in the earlier posts don't include bank payments to finance the purchase.


I don't have any, I paid cash. I suppose an accountant or financier might calculate a cost based on lost investment income, but I'm neither of those things.
Independence wrote:Anyway, my point is that the majority of the hourly cost of owning a certified private airplane are fixed or almost fixed like maintenance (an annual could be less for an aircraft that flies than one that is parked all year). To me that looks like a good scenario for partnerships. Your co-owners would have to be someone you are completely comfortable with and ideally they would have similiar skills and standards to your own. This might be one in ten pilots but it doesn't mean they aren't out there. Even something like an engine overhaul is a lot less scary when divided by, lets say, three.
Partnerships are great if you find the right people who can make it work. If I were to find a couple parters I could definitely afford to own and operate a more capable airplane than I do. On a personal level this poses two issues for me: 1. I think I'm too anti-social to be in a partnership, I have no desire to share the decisions or the responsibility with anyone else 2. I take a certain amount of foolish pride in owning my own airplane, all by myself. More generally it seems that good partners are about as rare as hen's teeth and I've seen far more partnerships fail than succeed.
Independence wrote:If you are parked outdoor and have found an AME that is interested in working on your plane, try asking around if any hangar owners have an interest in renting their private hangar by the day for maintenance. Someone might like $200 to help pay their lease.
That's a great idea and I'll keep it in mind for next year if it doesn't work out with the AMO I have doing my annual right now.
PilotDAR wrote:I landed on Lake Simcoe once, and a guy on a sled pulled up beside me. He mentioned that I must be rich.
Just the other day I flew my airplane to the AMO for its annual. As I was waiting for my ride to show up two guys (who were there watching their nephew do some flight training) came up and started looking my airplane over, the conversation went like this:

"Little four seater eh?"
"Yep."
"Is it your own?"
"Yeah, I bought it last year"
"Oh, you must have some bucks!"

I thought it was a touch rude, but I laughed it off. I've had that conversation a hundred times in the last year and it was clear he didn't mean anything by it. I think that aviation in general has failed to educate the public about how affordable flying can be, there is still very much this perception that flying is a pursuit only for the rich. This perception hurts our political credibility and it keeps us from attracting new people to aviation. There was an interview a while back on CBC radio with a lady who is one of the people trying to save the Osoyoos airport. The interviewer asked "Why should they pay to keep this airport open to support such an elite hobby?" The woman being interviewed handled it very well and explained how their airplane is no more expensive than the travel trailers, motorhomes, boats, and cabins that people use to recreate in the summer time. The perception is clear though, the interviewer didn't press it but didn't sound convinced either.
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Re: One year of being an owner

Post by PilotDAR »

It is correct that public perception is often skewed toward thinking aircraft owners are very well funded - and by extension, ten toward being spoiled brats. The challenge is that second only to yachts, you can spend as little or as much as you want on an aircraft, and the choice of aircraft has less to do with its actual value than its condition and equipment. A case in point, last year I flew two different C 182 amphibians. One's value was somewhat more than $100k, the other I know for certain to have exceeded $900k. When "the public" sees me pull up in either one, they're probably thinking a half million for either, with the more shiny one being a bit more valuable.

So, as all new pilot/owners are drawn from "the public", they inevitably start out with a perception that this is going to be expensive. That's not wrong, but experience in flying/owning can really help keep the costs manageable. More important than that is buying within your means to begin with. Too many wannbe owners spend more than they can afford, then suffer a perception that they cannot afford the aircraft, where a lesser one would not strain them.

Decades ago, when I bought my 150 (which I still own), I consciously declined offers to be a partner in a 182 and a 310 at the time. As said, I'm anti social enough that I do not want to share, so I'll own very modest instead. What a great decision that was! From the second year I owned the 150, to now, I have never given a second thought to operating cost, it's within my means. 2900 hours of flying it all over the continent without a worry. Flying the 310 (which I did fly for them, just never invested in) would have bankrupted me, and it would have been a tiedown queen. I know partnerships work very well for others, and I celebrate with them their finding their way into the ski together as a team - good for them!

You can't be worrying about the cost to fly your plane. Last summer I took my other plane north on an adventure (hence the avatar), where avgas ranged from $3 to $7 a litre - and at $7 litre, you're buying the whole drum, and leaving anything you do not use. I budgeted for it, and had no problem paying up - it was worth every penny!

Choose to fly within your means, and enjoy it!
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AirFrame
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Re: One year of being an owner

Post by AirFrame »

PilotDAR wrote:I landed on Lake Simcoe once, and a guy on a sled pulled up beside me. He mentioned that I must be rich.
Half the people I work with drive vehicles that cost as much as my airplane. I walk or ride a bicycle to work. Yet they all think i'm rich. Go figure.
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BGH
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Re: One year of being an owner

Post by BGH »

I've owned my own 185 since October 1983.In the beginning my dad was my ame so I helped dad with the annual & never flew with a snag,had the plane 6 months & the engine driven fuel pump packed it in(IO 520D) so we went over to Mike Gore(Cessna Dealer at yvr) & bought a new one & he & I installed it on the ramp on the south side of yvr as that's where the plane was based until 1987(cypk now).Dad's health prevented him from being able to work anymore after 1995 so I had to find a new mechanic,learned that each new to this airplane mechanic has his own picky areas so a new learning curve & costs were associated with the curve.
I track all expenses through quicken so it's relatively easy to say how much ownership has cost me both in total expenses & per year at the press of a few button.Due to a computer crash & not properly backing up quicken I can only go back to 2006 for expenses.Since January 1st ,2006 I've apparently spent $55056,60 on maintenance and at about 50 hours/year( some years it's higher usage) it come to about$122.35/hour.Insurance has cost $17,325.59 which averages to about $38.50/hour(again based on average 50 hours/ year).Lastly I average about .8 litre/ minute on wheels or about $79.68/ hour at $1.66c/litre.On floats I average about .92 litres/minute or about $91.16/hour.
Maintenance includes all prop,avionics,parking,elt,pitot static & anything else needed to fly so on wheels my 185 costs me about $240.55/hour & on floats somewhere between $250 & $300(added insurance cost of about $1000/year when on floats).
I have at times been frustrated by troubles associated with ownership,but I have had the puffy chest of ownership at times such as my high school reunion in 2009 when my wife & I were the only classmates present in PEI who flew themselves.We've been to both ends of the country twice & Yellowknife for the floatplane fly in (on both wheels & floats) at least twice as well.I had to build a trailer to tow behind our small car as we couldn't fit everything in the car that we can in the plane when we go camping.
My friends bought motorhomes,trailers & boats & they have spent a lot more money on both aquisition & upkeep than I have.I wouldn't change this adventure for anything(although some times my wife would).
Daryl
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co-joe
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Re: One year of being an owner

Post by co-joe »

I drive, is there not some sort of tent/ herman nelson combination that would allow winter maintenance to be warm enough to attract an AME?
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Chris M
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Re: One year of being an owner

Post by Chris M »

Stories like these always make me run over to TAP or Controller and see what things cost these days. I think motorcycles are the only desire I have that come close to wanting my own airplane (and I went cold turkey on motorcycles to fund my airplane habit :supz: )
Cadismack wrote:Although renting isn't really an option for me, the utility of owning has been the most valuable. Family is an 18 hour drive away and airline options cost at least 500/person for a round trip. Fuel only is about 1.5 Wj tickets. With the four of us (granted we only need to purchase 3 tickets for now) I not only feel justified and vindicated when I fly, but it keeps the passion for flying alive and keeps us connected with family. 16 GPH makes it hard to justify the trips around the patch, but the 170+kts means to door to door times to see family compete or are better than with the airlines and always puts a huge smile on my face.
It's the same story for me. The fiance and I live north of Toronto, her family is in Thunder Bay, and mine is in Ottawa (with a cottage near Maniwaki that we spend almost no time at because it's a 6-7 hour drive). A plane would open up a whole world of things we could do. A weekend in T-Bay is worth $250-400/person for the flight, parking at Pearson, the headache of the drive into the city... Ottawa is more manageable but when you have to battle Toronto rush hour to get there is just kills the joy.
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photofly
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Re: One year of being an owner

Post by photofly »

A 50 minute flight to the cottage vs a 4 hour drive is hard to beat :wink:
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I_Drive_Planes
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Re: One year of being an owner

Post by I_Drive_Planes »

Chris M wrote:Stories like these always make me run over to TAP or Controller and see what things cost these days. I think motorcycles are the only desire I have that come close to wanting my own airplane (and I went cold turkey on motorcycles to fund my airplane habit :supz: )
I haven't been on the bike in the last coupe years since I got back in to flying more seriously. One of these winters I'll actually fix it up and get it back on the road.
photofly wrote:A 50 minute flight to the cottage vs a 4 hour drive is hard to beat :wink:
As long as the weather is good that part is great. Last summer my girlfriend and I spent the weekend in Nelson. 16 hour drive, 3 hours by Cherokee. It definitely wouldn't have happened without the airplane. The airplane makes lunch anywhere in the province a day trip from Prince George.
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NunavutPA-12
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Re: One year of being an owner

Post by NunavutPA-12 »

Yellow 'planes rule:

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