You better really want it.
So I've always wondered, whats the cost to own your own airplane? I know it varies alot, but for a single engine Cessna like this what do hangar fees, insurance, plus maintenance end up costing? I plan on renting to try it out before I take the plunge. I hear it takes around 100+ hours to make it worth owning. And BTW, nice plane!
A bundle. I'll give you an idea and I speak from experience as the owner of two planes up until a year ago when I sold one to reduce expenses. I had a Cirrus SR-22 G2 built new for me in 2005. Cost to purchase was about $550,000.00 including sales tax (that most states collect even though you bought and took delivery out of state before they let you register the plane) plus.......
Assuming you pay cash for your plane and have no payments and fly 100 hours a year and nothing breaks (fat chance)
Monthly hanger rent-------------------------------$500.00
Monthly insurance---------------------------------$450.00
Monthly radio card & moving map updates----------$100.00
Annual Inspection (approx-$6000.00) per mo.-------$500.00
Monthly fuel--------------------------------------$840.00
(Fuel cost for 100 hours a year, 18 gal per hour (1800 gal. X $5.60 per gal.)-----$10,080.00)
Total monthly expense---------------------------$2,390.00 (not counting the cost of the plane and/or money opportunity cost)
And everything that breaks costs a fortune. My primary flight display burned up TWICE at $14,000.00 EACH.
If it flies, floats, or f****, it's cheaper to rent.
Chip