There are great benefits to owning an airplane. You can fly whenever you want, wherever you want, without having to worry about rental restrictions, such as the number of hours you need to fly every day or where you’re allowed to fly the airplane. It’s very difficult to find an airplane to rent for a weeklong trip, and many rental facilities have limitations on flights to Mexico, which are immensely fun and interesting trips to take.
But for many pilots, aircraft ownership is financially out of reach. And even if it isn’t, according to an AOPA study, 70% of recreational pilots fly less than 50 hours per year. With many fixed costs, such as the annual inspection, insurance, property tax, hangar rent, engine reserve etc, that makes the hourly cost significant. So unless you fly more than 100 hours per year, it probably makes sense to either rent, join a club or, better yet, find a partnership.
