Owning an Airplane

I’m trying to find some resources on things to think, worry, know about when it comes to owning an airplane.

Specifically I want to calculate the total cost of ownership when it comes to having an airplane. I know you’d have to factor in insurance, fuel, oil, and hangar space. However, are there formulas or other tricks to think about when calculating these items?

What about other user fees? NavCanada charges, do you pay sales tax on the private sale of an aircraft? How does one “test drive” a potential sale? Do you need to get checked out in a particular aircraft if you have no previous experience with that type?

Are there things to watch out for when it comes to multi-engine aircrafts that you don’t have to worry about with single engines?

These are just some of the questions floating around my brain lately. Any resources or tips would be helpful.

6 Responses

  1. Niss Feiner says:

    Hiya Blake,
    I wrote about this on Avcanada a while ago:
    http://www.avcanada.ca/forums2/viewtopic.php?f=54&t=28813&hilit=ownership
    based on my experiences as an aircraft owner.
    I hope it helps, Great blog btw!
    Niss

  2. Blake says:

    Hey Niss,
    Thanks! I’m a frequent lurker on avcanada.ca but never seen your post.
    I’ll be sure to add it to my collection of resources.
    Glad you like the blog! It’s comments like that that keep me writing.

  3. Kurt says:

    Hey Blake,
    I have my plane based at oshawa. One tip I can pass along which is more for after you buy a plane but could still sway you towards buying one. Mechanic shop rates differ alot depending on where they are located. So look at what it would cost you in fuel there and back to a cheaper shop rate VS having buttonville shop rates. I fly my plane to a guy north of lindsay, i save more money with him then mechanics from oshawa.

  4. Anonymous says:

    hey blake, remember what type of flying are you interested in? For instance, there is a big difference in operational costs between a certified and uncertified aircraft.

  5. renter says:

    theres an old saying.
    if it floats, flies or f…s, rent it

  6. Danny V says:

    “Buying and owning your own plane” is a good book to read. Even though it’s American centric, it still has some good tips.