Rent vs. Own

On Mon, 11 Feb 2008 23:05:20 -0500, "Frank" wrote:

Since this is an aircraft owners newsgroup, that means it's the perfect place to ask about the costs associated with owning an airplane vs. renting.

Since I haven't started my private pilot lessons, I'm not familiar with all of the expenses associated with owning an aircraft. I have listed below a brief list of likely expenses (I think) and I asking for feedback on it.

I do understand that costs for each item can vary greatly from place to place and according to many factors, but I think this is a good start. I am imagining the purchase of a Cessna 172 with a couple of private pilot buddies and I came up with this:

1) Storage (what is the price difference between hangar and tie down?)
2) Insurance for plane
3) Normal service for plane (how often does the plane have to be serviced...and approximately how much?)
4) Repairs (I understand this is unpredictable...is their an annual "average" cost for problems?)

Can you give me a basic idea?

Costs vary all over the country.

At KASH, a tiedown might be $400-$600/year, depending on amenities
(dirt/paved/electricity at tiedown are the variables) vs. $450-$750/month
for hangar space.

At KEPM, a tiedown is free, and if you want a hangar you can build one g!

Maintenance costs vary all over the place, even with the same a/c. I just
had a "no complications" annual on my Mooney (more complicated than a C172)
which was $7,000 (with no deferred items). But one year I needed to have
an engine overhaul (crack in the case) and that added about $18,000 to the
bill.

Probably flying somewhere between 150-200 hrs/year will be the breakeven
point financially for ownership/renting. But there is something very
satisfying about knowing you are the only one flying the a/c; being able to
leave "stuff" in it; having everything in the airplane the same as when you
left it, etc.
--ron