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remodel & upgrade or buy an upgraded plane?
Hi,
I have a 1967 m20e super 21. It has little for instrumentation and the radio stack is pretty weak. It certainly isn't near IFR. The interior is original and the paint is 5/10. It'll cruise at 130kts 2200 rpm and 23" I'm looking for opinions on whether to upgrade and have a sharp, but old plane... or should I just wait a couple more years and purchase a newer plane that would meet my requirement and would potentially be faster? I'm just wondering about the resale. If I had an old house and built a swimming pool outside for 20,000$... if I went to sell the whole place I'd never get that money back out of the pool. Is it the same with airplanes? Any advice would be appreciated. Thanks, -Dico |
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In article ,
Dico Reyers wrote: I'm just wondering about the resale. If I had an old house and built a swimming pool outside for 20,000$... if I went to sell the whole place I'd never get that money back out of the pool. Is it the same with airplanes? It's worse with airplanes. The value of an airplane goes up roughly by the used value of the installed avionics. After you factor in the cost of the radios and the installation cost you probably only get about 50% back. If you upgrade a plane beyond its typical mission (eg if you put a CNX-80 in a Cessna 150, or if I put weather radar in my Comanche) you will probably recoup even less. Plus a major upgrade like that will have the plane down for months. It's likely you could sell it and then buy a different plane and have less downtime. -- Ben Jackson http://www.ben.com/ |
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"Dico Reyers" wrote in message ... I'm looking for opinions on whether to upgrade and have a sharp, but old plane... or should I just wait a couple more years and purchase a newer plane that would meet my requirement and would potentially be faster? Yep it's the same with airplanes. If you're talking about economics, it's almost universally easier to find a plane that's already configured the way you want it and buy that than to do the mods yourself. Avionics and other aircraft mods have a high initial depreciation. If you want to make sure you get it right, and you're airframe is reasonably good, modding yours will give you more control and perhaps a better finished product at a higher cost. Finally, if you could find a J or later model, it will be faster. |
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Dico Reyers wrote: I'm just wondering about the resale. If I had an old house and built a swimming pool outside for 20,000$... if I went to sell the whole place I'd never get that money back out of the pool. Is it the same with airplanes? It's the same with airplanes. George Patterson If you want to know God's opinion of money, just look at the people he gives it to. |
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I elected to upgrade my 69 Arrow with Garmin 430, Stec autopilot, and
Stormscope. I love the airplane to begin with, I know what I have, and if I fly it for 5 years I figure I get my money's work even with 50% return. Used airplanes often contain nasty surprises. I did it a year at a time, during annual, midwinter when midwest flying weather is grim anyway. The gradual approach also lets you learn as you go and enjoy one new piece of equipment each year. I believe you get better return on engine and cosmetics as long as you don't go overboard. |
#8
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I elected to upgrade my 69 Arrow with Garmin 430, Stec autopilot, and
Stormscope. I love the airplane to begin with, I know what I have, and if I fly it for 5 years I figure I get my money's work even with 50% return. Used airplanes often contain nasty surprises. I did it a year at a time, during annual, midwinter when midwest flying weather is grim anyway. The gradual approach also lets you learn as you go and enjoy one new piece of equipment each year. I believe you get better return on engine and cosmetics as long as you don't go overboard. |
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"Ron Natalie" wrote in message m...
"Dico Reyers" wrote in message ... I'm looking for opinions on whether to upgrade and have a sharp, but old plane... or should I just wait a couple more years and purchase a newer plane that would meet my requirement and would potentially be faster? Yep it's the same with airplanes. If you're talking about economics, it's almost universally easier to find a plane that's already configured the way you want it and buy that than to do the mods yourself. Also keep in mind that there will likely be an enhanced market for selling good used planes down in Florida once their insurance checks start coming in. Sad and cruel, but true. There will also be a lot more good used engines, avionics and other salvageable parts hitting the market too :-( |
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