When you have finally decided that you’ve had enough of flying on someone else’s schedule and you are ready to take the plunge into aircraft ownership, it can be very exciting. The prospect of being able to go anywhere in the world at your leisure is amazing. However, it is easy to get swept up in the excitement and overlook expenses or overspend on certain aspects. Make sure you take the time to do your research and consider all of the expenses of ownership before purchasing your aircraft.
Cost of the Craft
There are hundreds of different types of helicopters and airplanes available. When purchasing, you can select new or used models, different brands, custom features, and many other options. There are also different sizes of crafts available that may have bearing on the price. Be sure to consider what the craft will be used for and how far away you will usually be flying so that you do not buy a larger or more expensive craft than you need or can afford.
Costs of Storage
Many airports allow private pilots to rent space in a main hangar or to rent a private hangar. This can be an affordable option for pilots. There may also be outside shades, which are similar in appearance to carports, which you can rent.
Another option is a tie down. These are often quite a bit cheaper than hangars, but allow your plane or helicopter to be exposed to the elements. The cost of a hangar may be worth the expense to avoid damage and wear on the craft.
Maintenance is important for safe flight and is regulated with mandatory annual inspections. Maintenance is a much more costly consideration for an aircraft than for other types of vehicles, as mechanics generally have to come out to where the craft is to provide service. Mechanics may also be difficult to find when repairs are needed quickly and may charge high rates. It may be possible to save costs by renting a hangar at a place that provides maintenance for an additional fee.
Aviation insurance must be maintained on aircraft, so this should be researched and factored in prior to purchasing the craft. Aviation insurance ranges in price and is generally affordable, depending on your needs and flight record. It is important to speak to knowledgeable insurance agents in your area to make sure that you get the best coverage at the best rate.
A company that specializes in aircraft sales may be able to help you identify all of the expenses that you will have to contend with as a new aircraft owner. Do your research and make sure that you are fully prepared before making your purchase.
ABOUT THE AUTHOR
Amanda Emerson is a recent college graduate and avid writer. While her primary focus in college was Psychology, Emerson minored in English Literature. She draws on her knowledge of both to create online content that addresses human needs in a simple way. In her spare time, Emerson enjoys flying, and flying to travel as well as beach breaks and playing with her dog.