Aviationnation8

So I’m 35, I make between 90 to 110k a year. I have rented all my life but I currently live with family. I am on track to Purchase a house in Nov. However my family said if I wanted to attend flight school that I could stay as long as I’d like. I’m so confused, I’ve always wanted my own house and I’ve always wanted to be a pilot. With the economy the way it is these days I really don’t know which path to take. Any thoughts from other Pilots?

12oclockHi

I think the reason you haven’t seen a slew of “pilot suggestions “ is that the question really is less about flying/training and more about a life decision. You are lucky you have options regarding help from your family regarding housing. Flying is going to set you back between 60 and 90K. A regional FO makes about as much as you currently earn. The bad news is it will take at minimum 2 years before you get to that point. If you are single and really want to fly for a living, this question should be moot. If you have other distractions that affect your decision making, well then you need to think those things through and determine what is most important to you. Good luck.

TiredSoul

You will not be able to pay two mortgages.
There is a 100% certainty you will have to/ want to move for a flying job.
You won’t be able to sell when want to and besides with closing costs and all you won’t have any equity first couple years.
There’s your answer.

I’m honestly surprised you couldn’t come up with that yourself. No offense, have you thought any of this through?
Is does not sound like it.

Aviationnation8

I appreciate your response. I just wasn’t sure what was happening in the aviation world, I’m not in it yet. I have heard a lot about different incidents and I see things on media about different airlines going through different things like Southwest. And I have no idea what’s going on of course I’m not there. I just want to make a good decision and not spend all the time and money if it would be a flop from my current career.

QRH Bingo

If you are concerned about the economy and that is weighing on your decision, maybe a transition is not for you. This industry goes up and it goes down. And when it does go down, it goes down hard.

Your three options:
1) Forget flying, continue with your current job and buy a house. Maybe in the future, you can reevaluate.
2) Continue to stay at home and keep your job. Begin flight training and pay as you go to complete it with as little debt as possible. This will take longer but could help you be debt free when you make the jump, which would likely be as a full time CFI.
3) Quit your job (which is the riskiest move), utilize savings and loans to fast track your training.

Bonus option. You can carve out a portion of your savings for a house (which I am boldly assuming you have) and obtain your private pilot license. Then, be a casual flyer, renting as you please while you test the waters and build some experience. And continue to reevaluate as you go about life and get a house. The nice thing about this option is that once you get your PPL, you can take a break (so to speak) if you don't have the money to fly that month. Anytime you are in "training mode", you really need to be committed to flying regularly to be as efficient as possible. Of course, this has its own issue of becoming that "once-a-month-rusty-flyer" which can become unsafe.

Best of luck.

JohnBurke

Pilots don't have houses. Pilots have nests.

Purchase some sticks and twine and some bits of foam and newspaper, build your nest, and go fly. The whole concept of flying negates remaining in the nest. It's actually what you do when you leave the nest.

JohnnyDingus

Take advantage of your parents generosity to pursue this opportunity that will benefit you financially in the long run. Not need too rush to buy a home at all time highs and "high" interest rates. You'll be able to make this money at the regionals pretty much from the start. If you can tough it out a year or two more at your parents then you'll be set to possibly buy a home once you make it to the airline of your choice. Then you can live in domicile too! PM if you have questions.