I am a low time Private Pilot (75 hours) married to a military aviator, and we are considering an airplane purchase in the next two years. I am also an A&P.
We have been discussing the possibility of a pre-owned SR20. I’d love to hear a cost breakdown from owners who are also A&Ps. Engine overhauls and annuals would be completed with an IA, but the menial work I would be doing on my own.
It looks like we will probably be doing this on about $100,000/year household income minimum, living in the south with moderate car/mortgage payments and no kids or any other major costs/spending habits. My husband’s job will NOT require moving unless we choose to, so no need to worry about transporting it around or having to move to an area with a higher cost of living.
Does that seem doable? I am already growing tired of renting and the extra costs incurred with scheduling difficulties, etc., and would love to own an airplane! Unfortunately, as of now there is no business use for us, so take that into account as well. Just weekend flying, cross country, etc.
Additionally, we are about to sell a house and will make about $30,000 on the sale. Would that be best utilized as part of the down payment or left alone for maintenance/etc.?
Thanks, I know there are probably a million questions like this but I’d appreciate an opinion on our situation.