My low estimates were about $7000.

Then you should do it.
Also, remember that it is "likely" that your aircraft will appreciate in
value. While that isn't guaranteed,and should be treated as a bonus,
it is highly probable.

But the main reason to buy is that it changes your mission profile.
Example - I used to rent, fly around for 90 minutes and land. It was
never worth actually landing anywhere nearby, as my FBO charged 3 hours
minimum if ever the aircraft was out over 3 hours, regardless of how
long it flew.

Now on a weekend, particularly a bad weather one, I'll fly 30 minutes to
an airport where I will land, meet several friends, have coffee and BS
for an hour, then fly toward home for 15 minutes, land and do it again,
then fly home.

Total flight time less than 60 minutes.
Total time - all day.
Total aviation value - priceless.
Total cost - Variable costs $30.00.
Fixed costs I pay whether I fly or not.
So now I fly lots. Like you I agonized over the cost.
Once I bought I kicked myself for not doing it a long time ago.
And as an aside, there is a certain comfort in always finding the plane
as you left it, with your stuff in it, and knowing that it wasn't abused
on its last flight.

My advice is to do it - you'll find many benefits that you hadn't even
considered.

Tony



Tony Roberts
PP-ASEL
VFR OTT
Night
Almost Instrument
Cessna 172H C-GICE