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#1
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I Want My Own Bird
I really want to make a good decision on this so, I'm giving myself plenty
of time, two years, to get my ducks lined up. I've want either an Archer or an Arrow with an IFR package. I've started looking at and pricing hanger space at selected airports in the Houston area where it'll be based. DWH prices it at $250 a month. Haven't had a chance to look anywhere else as yet. I guess what I'm looking for from the board is a breakdown on how much some of you are paying for loans, insurance, tie-down and upkeep on planes with similar packages. Just some financial facts please. Other than the fun factor and the knowledge that I'll have my own bird to fly whenever I please, I know the cost of owning a plane is next to impossible to justify. But I'm a recent empty nester, my source and income is stable, reliable, and on the increase. I'm fairly young, late 30's, and feel lthat I've paid my dues to my kid and now it's time I spoil myself. |
#2
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In article ,
Yeah_right wrote: Just some financial facts please. For about 100 hours/year it will cost about $10,000/yr. You'd have to buy into a partnership or a twin to significantly move the cost up or down. More importantly you have to be ready to spend $1000 with no warning without flinching too badly. You should be able to absorb a $20,000 cost (like a rebuilt engine) without becoming destitute. If you move up to a twin turboprop I think you just multiply all those costs by 20 or so. -- Ben Jackson http://www.ben.com/ |
#3
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For about 100 hours/year it will cost about $10,000/yr. You'd have to buy into a partnership or a twin to significantly move the cost up or down. More importantly you have to be ready to spend $1000 with no warning without flinching too badly. You should be able to absorb a $20,000 cost (like a rebuilt engine) without becoming destitute. If you move up to a twin turboprop I think you just multiply all those costs by 20 or so. About right - my partner and I budgeted 450/mo plus gas/oil each for an Arrow. That did not provide for an engine reserve and ultimately turned out to be not quite enough. |
#4
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I'm based at West Houston (IWS) and have a 1968 Cherokee 180
(basically the Archer). Annual runs around $800 (the inspection anyway), T-Covers go for $175, T-hangars I think are about $250. Insurance runs me about another $800 or so IWS is also manned 24/7 so it's really convenient. Very helpful staff also. On Thu, 07 Oct 2004 04:50:58 GMT, "Yeah_right" wrote: I really want to make a good decision on this so, I'm giving myself plenty of time, two years, to get my ducks lined up. I've want either an Archer or an Arrow with an IFR package. I've started looking at and pricing hanger space at selected airports in the Houston area where it'll be based. DWH prices it at $250 a month. Haven't had a chance to look anywhere else as yet. I guess what I'm looking for from the board is a breakdown on how much some of you are paying for loans, insurance, tie-down and upkeep on planes with similar packages. Just some financial facts please. Other than the fun factor and the knowledge that I'll have my own bird to fly whenever I please, I know the cost of owning a plane is next to impossible to justify. But I'm a recent empty nester, my source and income is stable, reliable, and on the increase. I'm fairly young, late 30's, and feel lthat I've paid my dues to my kid and now it's time I spoil myself. |
#5
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I was in a similar situation (although a few years older than you),
with my kids gone and some time to spend my money on myself for a change. Bought my Comanche 250 in April and so far I've put a set of tires on it, replaced the wing root seals and cowl chafe, some SCAT hoses I'm still troubleshooting an intermittent problem with the NAV radio (actually the antenna/feedline now). I think you have to have plenty of cash available to fix whatever goes wrong and not sweat about spending it. Also if you can do a lot of your own maintenance and minor repairs as I do it will save you plenty. My insurance is $1900/yr, hangar is $125/mo and fuel around here (50nm west of SAV) is $2.75. It would be painful to have to pay $250 - $300 for a hangar because I plan on $150 a month just for incidentals. I have not regretted doing it at all.. on the other hand I have a fairly simple lifestyle in other ways and prefer to spend my extra money on the plane and associated traveling. Just remember you can't take it with you. I have already explained to my kids that there will be no inheritance because I plan on spending it all. :^) Yeah_right wrote: I really want to make a good decision on this so, I'm giving myself plenty of time, two years, to get my ducks lined up. I've want either an Archer or an Arrow with an IFR package. I've started looking at and pricing hanger space at selected airports in the Houston area where it'll be based. DWH prices it at $250 a month. Haven't had a chance to look anywhere else as yet. I guess what I'm looking for from the board is a breakdown on how much some of you are paying for loans, insurance, tie-down and upkeep on planes with similar packages. Just some financial facts please. Other than the fun factor and the knowledge that I'll have my own bird to fly whenever I please, I know the cost of owning a plane is next to impossible to justify. But I'm a recent empty nester, my source and income is stable, reliable, and on the increase. I'm fairly young, late 30's, and feel lthat I've paid my dues to my kid and now it's time I spoil myself. |
#6
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My insurance is $1900/yr
?? That's more than Mary and I pay, combined! What kind of insurance are you carrying? -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#7
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In article 9nw9d.211861$D%.54175@attbi_s51, "Jay Honeck"
wrote: My insurance is $1900/yr ?? That's more than Mary and I pay, combined! What kind of insurance are you carrying? Remember that it's a Comanche 250 that he only bought in April. He probably doesn't have a lot of time in the make/model. -- Bob Noel Seen on Kerry's campaign airplane: "the real deal" oh yeah baby. |
#8
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#9
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The actual premium was $1885 (I just rounded it up) The PA24-250
is a high performance retract which will generally cost more than a fixed gear airplane. When I bought it I had 50 hours retract time and 0 hours in type. I now have 50 hours in the plane and a multi-engine rating added since then too so I'm hoping it may go down a bit. Actually though, I'll be happy if it just doesn't go up. :^) John Theune wrote: Bob Noel wrote in news:ihatessppaamm- : In article 9nw9d.211861$D%.54175@attbi_s51, "Jay Honeck" wrote: My insurance is $1900/yr ?? That's more than Mary and I pay, combined! What kind of insurance are you carrying? Remember that it's a Comanche 250 that he only bought in April. He probably doesn't have a lot of time in the make/model. And retracts cost much more to insure then fixed-gear birds. |
#10
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My take on it.. 250 is CHEAP for the Houston area. Hooks is in my
opinion an EXCELLENT GA field with a restaurant, tower, daytime fuel truck, 24 hour fuel pump access and several schools on field for a decent sized instructor pool. I am part of a partnership that is joining into an existing hangar lease crosstown at EFD, and the small hangars are running $400/mo (but these hold 2-3 small planes). At Clover/Pearland Regional the rent is running $350 average for T-hangars that vary from all-metal to "metal sheeting over wood frame" (boat shed quality) I can't comment on West Houston or Weiser's prices.. That being said.. for a used midtime $65,000 archer with 75% financing your 10 year note payment will be balpark $575-600 depending on interest. $250/mo is cheap for hangar, if you can get it at that price. I have not priced insurance, but count on $20-25/hr based on current fuel costs ($200/mo for a 100 hr year), Engine reserve cost I have heard people say $5-10/hr and that is probably an even broader range.. Direct operating costs of $40 an hour would probably be very conservative (and comes out to $320/mo for a 100 hr year). So far, without insurance, you are looking at $1400/mo in rough calculations. Are you considering sole ownership? A partnership? The Houston Chronicle always seems to have a partnership or used a/c available in the classifieds, section 201 I believe, right after the trucks and before the boats. I also want to say Woody Leskal, the developer/owner down at West Houston has a business where he refurbs older commanche 250's and the like, and sells 1/3rd share for $33,000. If you keep the plane at IWS he will even offer to manage the plane/partnership for you (im sure for a fee.. but it takes some of the hassle out of ownership). Also, Myplane.com is supposedly offering fractional ownership in the Houston area, but they have not responded to the single internet inquiry I made of their local rep. I apologize if this isn't quite what you are looking for (my numbers are rough and estimated, not from personal experience)... I'm part of an experimental build that we hope to have airborne by next summer that will blow the socks off an Archer class aircraft. Building your own isn't for everyone, but it may give you a lot more plane for your $$, if its capable of suiting your needs and situation (family supportive, have the time, etc). Good luck, and if you to discuss this or anything else regarding Houston area aviation issues further, you can reach me at doggtyredATyahooDOTcom. Dave Yeah_right wrote: I really want to make a good decision on this so, I'm giving myself plenty of time, two years, to get my ducks lined up. I've want either an Archer or an Arrow with an IFR package. I've started looking at and pricing hanger space at selected airports in the Houston area where it'll be based. DWH prices it at $250 a month. Haven't had a chance to look anywhere else as yet. I guess what I'm looking for from the board is a breakdown on how much some of you are paying for loans, insurance, tie-down and upkeep on planes with similar packages. Just some financial facts please. Other than the fun factor and the knowledge that I'll have my own bird to fly whenever I please, I know the cost of owning a plane is next to impossible to justify. But I'm a recent empty nester, my source and income is stable, reliable, and on the increase. I'm fairly young, late 30's, and feel lthat I've paid my dues to my kid and now it's time I spoil myself. |
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