I'm approached a lot about buying an airplane, but haven't personally taken the plunge yet. I've often thought it would make sense to buy one, but then I remember that I don't even own a house yet.
So for now, I just dream and occasionally I peruse the used airplane ads in Trade-a-Plane.
Whether it's a $20,000 Cessna or an $800,000 jet, buying an airplane is a big investment. From what I'm told, the cost and affordability of aircraft ownership can be surprising to some. It's much like purchasing a home, I would think.
There are obvious benefits to owning an airplane, like traveling where you want and when you want without having to go through airport check-in and security process. Pilots who intend to make a career out of flying can do so efficiently and for less money than renting at a flight school. And there are tax benefits.
Regardless, aircraft ownership is still an expensive venture, especially in today's tough economic times.
Are you an aircraft owner? What advice would you give a first-time buyer? What do you do to lessen the financial blow before or after you buy?