So I have a "student" who is interested in buying their own airplane. I say student because I more or less just give him BFRs and occasionally fly. He's been flying for quite a few years doing odd job stuff (but not career) and has finally hit retirement. He now wants to own his own airplane. I realized as an instructor, I now basically NOTHING about aircraft ownership.

We talked about FBO rental, clubs, fractional, etc and none of these seemed to fit what he wanted. His family owns a second house about 6 hour drive away and there is an airport literally across the street. They go up for weeks to months at a time so a club or something probably wouldn't work (and they want to fly around up there).

I have no idea what to tell him as far as yearly costs etc. Like what does a hangar cost, inspections and the like. I know how often inspections are required but dont know how much they cost. Also stuff like overhauls I don't know anything about. Finally, insurance. I have no idea how much that costs or what is required.

Actually I have been asked now by 2 students and I realized how painfully little I knew on this topic. Maybe because I never plan on owning one myself!

Any input would be great. Thanks.