Oh yeah. True aircraft owner experience you show Mr. Andrew. Purchase price is only the ENTRY FEE. The club dues are what KILL you. Even if you pay for a plane in "good" condition the maintanence is a HUGE wild card.
Yup.
Nick, whatever happened to getting back into N8816J? If you could do that, or something like it (club/partnership deal) you could get more involved in the finances and/or maintenance aspects to learn how much an airplane is really gonna cost you. Even on a "simple" (fixed-gear, fixed-pitch, metal, common-with-cheap-parts, etc.) airplane, maintenance may cost you over $50/hr even if you fly it regularly.
Being the treasurer of a flying club has given be a great appreciation for the costs of maintaining these older birds. Broken ELT antenna, $269.44. Two tires, $354.94. New alternator, $620.84. Random oil leak, $292.82. Oil change, $215.57. Another random oil consumption/leak/high pressure, $978.91. Stuck door handle, $105.44. Pitot/static and transponder check: $263.75. Random issues discovered during pitot/static and transponder check: $1,296.55.
New tach cable: $323.55. Corrosion repair and fuel bladders: $11,232.29. Dead vacuum pump, $568.16.
Add it up, and pretty soon you're talking real money!
Not trying to discourage you at all, but I recommend you budget $50/hr for maintenance, and force yourself to put it in a separate savings account as soon as you fly the time. Otherwise, a pricey but small problem could ground you - And the fixed costs don't go away when that happens, so you end up paying for a plane you can't fly.