A new video on the Flying Doodles YouTube channel takes a deep dive into the question that’s on so many pilot’s minds: How much does it cost to own and operate your own airplane? Using the Cessna 172 as an example, the video goes through everything from buying the airplane to hangar rent, maintenance costs, and fuel.
I like this a lot, but unfortunately this is not a blue collar dream.
The cost of my hanger is $245.00 a month. Still I think $20,000 a year is a good number to work with. If you cannot afford that, I wouldn’t even waste my time with buying. It only costs $35.00 a month to keep the plane on the tarmac so that’s nice. Under an open T hanger is about $140.00 a month. Many different options. Building your own is an option but I would think that would run $5,000.00 or more. I looked at a metal building kit without the door is $58,000.00 not including construction.
Life is short and you cannot take the money with you when your number is up so live life to the fullest! This is not a dress rehearsal! 😆
Another issue with the cost described is the engine overhaul. As others have stated under part 91 the 2000 hour TBO is not required . The presenter further states however that once overhauled you are good for at least 14 years. The “average” Lycoming TBO is 2000 hours or 12 years. The calendar time is arguably more important than operation hours as many engine issues are caused by corrosion not operational wear.
I found 11 C172s on the ‘controller’ for less than $80k, and 3 were $60k or less.
The big cost that they neglected is that most will take a loan for at least 90%, so a $50k loan for 15 years is $420 a month.
Also, who can fly 150 hrs a year ? That’s 3 hours a week. I’m lucky to be able to fly 1 hr a week and maybe a 2 hr X-C a month.
The best way to reduce the costs is a co-ownership. 3 pilot will cut the fixed costs by3x, and owner assisted annuals and maint work.
All the other data is widely variable between city vs rural airports.
Pt91 aircraft can run the engine until it is no longer airworthy, as specified by the manufacturer…see Mike Bush ‘savvy aviator’ articles.
Too many variables but when asked that question I say $8,000 to $10,000 per year fixed cost.
When asked how much does it cost to get your pilots license, around $2,500 to $3,000. More if it takes more than one year. Remember, the cost of renting the plane don’t go down just because you received your PP license.
I read your acticle about plane ownership and the hanger fees were
something I disagree with . $ 500 a month for hanger fees
I have a c 150 and I live on a farm with my own air strip I also built
my own hanger . call me cheap but there are ways around it
Marvin
Respectfully then; two questions:
1) Where is your farm?
2) Do you have room there room for another hangar?
In my neck of the woods, an ‘average’ hangar runs @$450/month…if you want to wait over a year to get one.
Very good video. This is very helpful when considering buying a plane. there is a lot to it…….and the cost goes up as the airplane gets bigger!!