JamesNoBrakes

I would be on the side of "it can work out". I had a buddy that sold a C-150 aerobat for a few thousand more than he bought it. He did some work on it, but still came out a little ahead. So for building time, sure it can make sense. What you do have to realize is that you aren't saving a ton of money, but a definite amount. In other words, the cost to rent is a few dollars more/hour and you usually aren't going to make out like a bandit...but still. Some planes can take mogas and further reduce costs, again with some trade-offs. The only significant issue I'd be concerned about is quality of training in one airframe with it's avionics. IME, it's not the size or speed of an airframe, but the variety you get from flying different ones and getting accustomed to adapting to something new.

nate5ks

$54 is impressive for EYW.

TiredSoul

pnwchief22

I have been an owner since 2008, saved $1000’s on flying by avoiding the FBO rentals. Also have several hours with time builders flying under the hood, meet up with others (low time pilots) in your area and save even more $$ by splitting costs.

gwt9678

I'm at the end of this process myself. Bought a 172 a year and a half ago. Flew 300 hours, will sell it after my CFI ride in 2 weeks. The loan payment is $220 a month, tie down is $25 a month, insurance $600 a year (was already paying $200 for renters). The variable is maintenance. My recommendation is to find a good freelance mechanic not tied to a big shop. My first annual hurt. Large shop, $3700. Second annual I did an assist with a mobile mechanic, paid $400.

Make sure the plane has IFR avionics, but keep it simple. Lots of extra cost to have a GPS in a plane. I have a single SL30 nav com. I'm not flying hard IFR in it but it was enough to get my instrument rating. When you go commercial, find a cheap twin to rent and use that to knock out your complex time instead of paying for a TAA.

rickair7777

That's a good idea since you no longer need a complex for the CPL ride. You do need some twin time for airlines anyway.

TiredSoul

Saving money is about doing it the smart way.
As a CFI I’ve done about 5-6 Initial CFI combined with CPL.
There is really no reason why you’d learn maneuvers from the left hand seat - checkride - relearn maneuvers from the right seat.
There is no requirement to take your checkride from the left seat as long as you notify the DPE beforehand.
So at around 200-210 hrs TT you start working on your CPL/CFI.
This probably saves you 10-15 hrs of ground school and 15-20 hrs of flying.
Give or take $4k-$5k.
Previous poster spend that much on annuals.

Pull and Rotate

Years ago I bought a Warrior right after I finished my PPL. Flew the crap out of it and got my instrument and built my time towards my Commercial. Sold it after putting some 500 Hours on it for more than I paid for it. I never broke down the cost per hour, but I can say that I really enjoyed owning my own plane. I had the freedom to go anywhere anytime I wanted without having to worry about getting the plane back in time for the next guy or worry about availability. An added bonus is knowing your plane inside and out and not flying some POS that's been ridden hard and hung up wet.

Flew to OSH and camped on the field a few times and met some really great people along the way. Don't regret it for a moment and I'm now in the market for an old Taildragger to get back into flying for fun. So, there's a lot of ancillary enjoyment to be had if you're into it for more than just a tool to build time.

Don't forget to enjoy the journey...

TiredSoul

Go in with zero expectations of saving money.
By all means enjoy the journey.