"soxinbox" wrote in message
. 166...
I am getting ready to buy my first plane. I am considering an early 60s
bonanza or debonair.

My first thought is, "don't."

Not because these can't be perfectly good airplanes, but rather because I've
found that airplane ownership is a complex business, and you're better off
learning with something simple. Why not a good Skylane? For the same money
you'll get a newer, likely lower-time bird, spend less on insurance and
maintenance. The only downside being speed, which is in the 20-40 knot range
depending on the two birds you're comparing. Do you need that extra speed or
do you just want it? You may notice that good 182s cost a lot, comparable to
or even exceeding Bonanzas, Mooneys, etc. that aren't all that much
older/higher-time. There's a reason for this: smart pilots look at the Total
Cost of Ownership. This is also why you can buy a big pressurized twin
cessna with all the toys for not a lot more than a nice Bo. Of course that
resale value will come back on the tail end, should you decide to step up.

Of course, if you have money coming out the wazoo, then airplane ownership
is easy. Find a decent mechanic (ask your type club) and when anything makes
a funny sound, take it to him, and hand over your wallet. Be prepared for
numbers that sound like the down payment on a car. If the thought of this
concerns you, best stay away from an early 60s Beech retract.

Some of these planes don't have a standard "six pack"
panel layout, and I was wondering if anyone had an idea of how much this
would cost to upgrade. I probably would update the radios at the same
time,
but I am really interested in the cost of the panel only.

My rule of thumb here is to buy the plane you want, and upgrade the one you
have. The reason is that while you might spend $50k upgrading the panel,
you'll be lucky to get back more than $30k when you resell it. Let the
previous owner eat that depreciation. The only exception to this would be a
good plane with a high-time engine, because a much larger portion of the
money you spend on the engine will be retained as value. Of course, if you
already have a plane you like but just want newer radios, it can make sense
to upgrade because you'll own them long enough to get your money's worth.
But if you're buying the plane now, buy what you want the first time around.

Best,
-cwk.