Originally Posted by
Flyhayes
After purchasing the aircraft, will you have enough on hand to cover the large unplanned expenses that can pop up? There are some horror stories of new owners buying what they thought they could afford, only to wind up blowing the engine (20k) or shelling out an egregious amount (north of 10k) on an annual.
The best advice I've heard is to always have an extra amount equal to an overhauled engine put away for those unexpected outlays. If you can justify that, I think ownership is a great idea. However, hire a flight instructor rather than risk you marriage.
We have enough to cover unexpected expenses and the airplane that we are looking at it is currently owned by a good friend, so we are fairly familiar with its condition. Thank you everyone for the input.