On 2008-02-16, Jay Honeck wrote:
To the OP: If you can afford it, do it. Owning your own plane is wonderful.

I'm coming at this from the other direction. I've always rented, but I'm
seriously considering buying. Not only that, I'm considering buying a new
aircraft.

Everything Jay said is true: you never know what the real, complete
condition of the airplane is if you rent. You can't leave your stuff in it.
You might well have to clean up after the last guy. It might not even be
there at the appointed time, if the previous renter couldn't get it back
home in time.

Owning is a daunting prospect for me. I'm looking at spending $130-160K. The
note, plus hangar rent, plus maintenance, plus fuel, plus lots of other
stuff, is going to be a big chunk of money every month. I'm finally in a
position where I can afford it, thankfully. Offsetting the big ticket is
that I'll fly a new aircraft for the first time in my life (I last flew
before Cessna started building piston singles again), and that I'll get to
have the plane the way I want it (including a specific N-number, N55ZC,
without having to pay for a paint job).

If it weren't for medical issues, I'd be looking at an AA-5B instead of a
Zodiac or Sierra. The note would be smaller, but the maintenance would
probably be higher, and I'd probably have to sink a fair amount of money
into upgrades and repairs. Even so, I'd still buy. The advantages are too
attractive to me.

It probably doesn't make financial sense. As Gordon Baxter put it, "How much
does it take to own an airplane? Everything you've got." There's an
intangible feeling there that, to me, is worth it.
--
Jay Maynard, K5ZC http://www.conmicro.com
http://jmaynard.livejournal.com http://www.tronguy.net
http://www.hercules-390.org (Yes, that's me!)
Buy Hercules stuff at http://www.cafepress.com/hercules-390