Depends on what level of repair you want to maintain the airplane at...
My annual expenses this year with two major AD's being due, plus a new
heater and a new carburetor on one engine cost approximately one third
of the market value of the airplane... But, I cannot buy a similar
aircraft that is as well maintained mechanically and electrically so I
made the decision to IRAN rather than trade up... If you think that
aircraft are expensive to keep up and/or upgrade, try a boat in the 40
to 50 foot range...

denny