So guys, the big question.

S

shyampatel94

Pre-takeoff checklist
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Shyam Patel
When is it truly worth it to buy your own aircraft? Like anything you guys can give me! And I mean ANYTHING!
 
If you like it, you can afford it, and you're willing to take the time to keep current and ensure your aircraft does not become a "hangar queen" then it is worth it... :)
 
I guess it depends how much you fly, but I like knowing I was the last one to touch the plane and that it is always available when I want it (not entirely true, as maintenance, weather and unknowns can get in the way). Money wise, you have to fly quite a bit for it to pencil out. I fly a little over 100 hours a year.
 
...more affordable option is to buy into a 2-4 way partnership. Then, you get the best of all the worlds. You can pretty much fly whenever you want with little contention for the plane, split all the costs 4 ways and other folks can handle some of the stuff when you aren't able to. Also, planes that fly are more healthy than ones that sit around...especially one's that sit around out in the elements on a tie-down. I bought into a 4 partnership on a Cherokee 235 and couldn't be happier. All are more experienced pilots, we do owner assist annuals to save costs (and learn more about the plane), do our own oil changes/prev. maintenance, etc... It's pretty bad ass to have a nice plane sitting in a hangar for me that all I have to do is pay for gas at $10/hour in the 'TBO fund'. Our fixed costs are a little over $100/month each to cover hangar/insurance.
 
yes it's worth it....what ever the cost.

rough day at work, head out to the hangar on the way home and take a zip around the frozen lake in the setting light. back in the hangar 0.3hrs later, refreshed. Yep worth it.
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I talked to a fella who owes $100k went to Emory or Spartin and got his 300 hrs Comm and a few hrs multi.

For the same net amount, I owned and flew a Cherokee 880 hrs plus 400 more in a Comanche 250. It would have been very little difficulty to have gone after the IFR/COMM that he got along the way. So if you want many hours, no better way than to own.
 
Well I really want to have a career in aviation in the future! I just love flying and basically dream of it! And of course dream of owning my one plane one day! I want to get my Instrument Rating and Commercial for sure! And then from there I will think about getting my Multi. So bottom line, I really want to own my own plane and pursue a career in aviation not for the money but for the love of flying! Plus my dad has plenty of money... lol.
 
shyampatel94 said:
When is it truly worth it to buy your own aircraft? Like anything you guys can give me! And I mean ANYTHING!
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When you want to be flying an aircraft you can't rent. If you really want a career in aviation, buy a twin. Multi time is a premium that gives you a leg up on the multitudes. When you earn your MEI rating, you now have other people paying to fly your plane and paying you for your time and you end up with 1500hrs ME time when you get your ATP with other people paying for 1250 of those hrs while handing you dinner money at the same time.
 
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When you want to fly on your schedule.if you like to fly different aircraft buy into more than one partnership.i have to admit have had several different aircraft as my mood changed. If you are on this site your ready.
 
Economically, possibly never. Emotionally and logistically the day I bought my first and only airplane.
 
Availability - long term, short term, spur-of-the-moment, unlimited duration, pre-packed with things where you like them
 
Tangible?

Reasons:

1. Plane is there when I need it.
2. Plane is a type you can't rent anywhere
3. Plane is maintained to my specifications
4. I can leave my headsets, etc... in the plane.
5. Nobody else leaving the plane broken, dirty, or otherwise in an annoying condition.
 
I recently explained it like this: If you can painlessly afford a second home and 20-35k a year maintain and operate it, then buy.
 
The cost of ownership is only worth it when you think so,,,,, dollars and cents has nothing to do with it.

want the status symbol???? Ch-ching

want the satisfaction of knowing that no one is abusing the machine you are depending upon ? Ca-Ching.

The theory is pretty simple, the cost of pegging your fun meter is up to you.
 
shyampatel94 said:
When is it truly worth it to buy your own aircraft? Like anything you guys can give me! And I mean ANYTHING!
Click to expand...

How about when you are a business owner and your tax bracket is 70% or higher, like it could have been a few decades ago...
 
I agree but I think I would do the first 800 hrs in a 152 or Cherokee with mogas and then transition to a twin for the last 450 hrs or so. Around here Im not sure how much of getting paid to CFI and check out twins is going to get you 1300 hrs in less than 5 years...some areas might be better.

Henning said:
When you want to be flying an aircraft you can't rent. If you really want a career in aviation, buy a twin. Multi time is a premium that gives you a leg up on the multitudes. When you earn your MEI rating, you now have other people paying to fly your plane and paying you for your time and you end up with 1500hrs ME time when you get your ATP with other people paying for 1250 of those hrs while handing you dinner money at the same time.
Click to expand...
 
Henning said:
When you want to be flying an aircraft you can't rent. If you really want a career in aviation, buy a twin. Multi time is a premium that gives you a leg up on the multitudes. When you earn your MEI rating, you now have other people paying to fly your plane and paying you for your time and you end up with 1500hrs ME time when you get your ATP with other people paying for 1250 of those hrs while handing you dinner money at the same time.
Click to expand...

:yeahthat: A cheap Apache, get your IR. Throttle back to 55% on lots of cross-country flights working towards your Commercial. You'll be well in your way to a career. Pick up a college degree along the way...community college is just fine to improve your opportunities.
 
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