remodel & upgrade or buy an upgraded plane?

"Dico Reyers" wrote in message
...
Hi,

I have a 1967 m20e super 21. It has little for instrumentation and
the radio stack is pretty weak. It certainly isn't near IFR. The
interior is original and the paint is 5/10. It'll cruise at 130kts
2200 rpm and 23"

I'm looking for opinions on whether to upgrade and have a sharp, but
old plane... or should I just wait a couple more years and purchase a
newer plane that would meet my requirement and would potentially be
faster?

I'm just wondering about the resale. If I had an old house and built
a swimming pool outside for 20,000$... if I went to sell the whole
place I'd never get that money back out of the pool. Is it the same
with airplanes?

Any advice would be appreciated.

Thanks,

-Dico

Other posters are correct about the low return on your investment to upgrade
your airplane. However, one thing they didn't mention out is that when you
buy a new airplane, you're moving from a known airplane (yours) to an
unknown airplane (the new one). You'll probably find a few surprises during
the first annual on the new one. They could be minor, and then again, maybe
not... Anyway, you're adding some amount of risk to the equation when you
buy a new airplane.

KB