buy plane or get instrument rating?

In article , Matt wrote:
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking

Like others have said, buy the plane now.

Ignore the intangible benefits of owning for a second. Figure the
economics of ownership vs. renting. Typically, at 100 hours per year
or less, it pays to rent; at 200/yr, it pays to own.

The reason is the high fixed cost of ownership. Before your first
flight hour, you have to pay for insurance, parking spot, and annual
inspection. Each additional hour, you're paying the marginal cost:
fuel, oil (and if you anywhere, landing fee).

As you persue your instrument rating, you're going to be doing a lot
of flying in a relatively short period of time. That's where owning
makes financial sense.

Then there are the intangible benefits: schedule it any time you want,
know who's flown it last, no daily minima.

If you want practical benefit from the plane, like actually being
able to go places, eventually, you're going to have to own your own
(or form a partnership). With a better FBO, you can push it off
longer.

Good luck,


Morris