Doing a little research may yield a more cost-effective airport for your aircraft. But airports vary greatly in the costs and availability of hangars and tie-downs, even within a small area. You may be limited to one or two airports within your preferred driving distance. If you can save a few hundred each year on aircraft maintenance, you can spend more on your wants list.Īnother aspect of simplifying your flying is reviewing where you keep your wings.
Also review FAA Part 43 that lists what preventive maintenance you, as the aircraft owner, can perform and compare it to what you feel comfortable performing. It may raise the cost of your annual inspection or require special STC maintenance over the next few years and these costs have to be factored into your decision.
Whatever plane you buy or equipment you add will require periodic maintenance.
It would be great fun to add a STOL kit, but how much will you really need it versus needing the dollars it will cost? Don’t say “no.” Just make sure you’re getting value for what you need and can afford. Not just stuff you want, but things you really need for your goal: upgraded avionics, more horsepower, a balanced cruise prop, tundra tires, or maybe a taildragger conversion. Maybe your current plane is fine for the mission, but it needs something to help you enjoy flying more. How many flying hours are you realistically planning for the next five years (or whatever time frame you select)? What type of flying? Do you need a faster or slower aircraft than your current wings? More instruments and equipment or less? What’s the least aircraft – and least expenses – you need to fulfill your flying mission? Would you be smarter to sell your airplane and rent or quit renting and buy? What about a partnership or a flying club? Are your flying goals better met with an LSA, a glider, a homebuilt, or a vintage aircraft? Just what aircraft will best match how you want to be flying into the future? The next step is to quantify your flying mission with a specific plan. At that point, some pilots simplify and others go for more complex aircraft depending, again, on recently reviewed flying goals and budgets. At the end of five, some decide to hold pat and others have already moved on. So a five-year flying plan makes sense for many recreational pilots. Some may hold on to their plane for 20 or more and a few sell their aircraft after a year or two, but five is typical. The average pilot gets a new set of wings about every five years. Reviewing why you fly every few years can help you get the most from every dollar you spend and each hour you fly.
The average annual budget among recreational pilots is about $10,000 a year. On the other hand, our flying budgets range from one to many thousands of dollars a year depending on our flying goals and budgets. The average recreational pilot flies just 1% of that time – and thinks about flying the other 99%. Analyzing why you fly can help keep the costs on the ground.Įach of us has the same time inventory: 8,760 hours in a year. Soon, what started out as a fun pastime can become a stealer of time and money. Instead of you owning it, it begins to own you. Every layer of complexity you add to flying – or just about anything – increases the costs of ownership, maintenance and other expenses.