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Airplane budget

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17 May 2024 21:00 #1 by Warren Hampton
Replied by Warren Hampton on topic Airplane budget
Wish I could find a hangar for $200. Gee, wish I could fine a hangar here around Reno!!!

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10 Mar 2024 10:18 #2 by Larry Snyder
Replied by Larry Snyder on topic Airplane budget
Where is the plane located? Two hundred a month for a hangar seems pretty good for most places. I had mine in a hangar at Batesville, Arkansas, and it was $195. It was $139 when I moved in there in 2010. I just moved to a large community hangar (4 airplanes) in Mountain View and I’m paying $100 a month. Currently my plane is the only flying plane in the hangar so no worries yet about moving them around.

If you find an A&P/IA who will work with you on an owner-assisted annual you can cut that way down.

My insurance is $500 a year. I have 1600 Ercoupe hours so that helps, especially since I’ve crossed the dreaded 70 threshold. Yours should go down as you fly.

One last comment (I know I’m not being particularly helpful) is that not flying the airplane will cost you more in the long run. I’m always amazed how things can break while the plane is sitting in the hangar!

You’ll have to go over your budget and see how you can fit the airplane in. I’ve dropped some hobbies because they were lower priority than the airplane. I even sold off my BMW motorcycle and my two extra banjos. There are tough financial choices for most retirees.

Good luck!

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  • Nathan Bissonette
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10 Mar 2024 09:10 #3 by Nathan Bissonette
Airplane budget was created by Nathan Bissonette
Do you have a budget for your Ercoupe?  How much is it?  Mine is:

Hangar rent, $200/month, $2,400 yearly total.
Annual inspection and repairs, $2,500.
Insurance, $1,200.

Looks as if I need to budget $500 per month just to let it sit, if I never fly it, more for gas and oil when I want to fly.  I'm retiring in July.  I don't know if my retirement income will support that.  What do other people do?  

 

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