Quote:
Originally Posted by Ross
Ownership definitely has its merits, but the typical cost savings isn't seen until you fly around 100hrs a year.
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Again, depends entirely what plane you choose and how it is certified. A small Cessna or Piper might cost 30 to 40K to buy, and 2 or 3K per year for maintenance if no major repairs or parts required. But a high quality amateurbuilt like a Vans RV or a Murphy Rebel (like mine) costs next to nothing to maintain and parts are a lot cheaper, too. The initial costs may be higher for an amateurbuilt, but you get a much better plane (newer design and technology) so the total cost of ownership is less in the long run (incl appreciation) for what you get and what you can do with it.
For example, I have been flying my plane for 14 years now, and have not spent more than 2K over that time on parts and maintenance (excludes discretionary upgrades). And in my case, it is worth at least 30K more than I have put into it (incl discretionary upgrades).
Oh, and hangars also appreciate like real estate, so that cost can be very minimal as well. That cost or rental is very dependent on where you live.
100 hours a year is quite a bit actually for a non commercial pilot. Most fly 50 hours or less. But for sure, ownership can still be very cost effective at 50 hours and less. And if less than 25 hours, not sure anyone would even rent you a plane (would need more recurrent training).
Another option that is becoming more popular, too, is fractional ownership.
But your first challenge will be to get your PPL. It's good that you are not underestimating that effort. Too many do, and quit because of their very unrealistic expectations.
Best of luck.