Any regrets moving up to better plane

[dbahn]

Flying is flying and some of the most fun I have had flying in recent years was getting my Seaplane rating in a Piper Cub!

I bought into, and now own, the plane that I thought would work well then and into the future (C206). That was 40 years ago and I'm happy to say that it worked out that way.

One distinct positive feature about that is that the comfort and familiarity with the plane has increased over time. Apparently that's also helped with insurability, according to the underwriters.

I'd love to have kept the PA12 floatplane, but it created a whole new challenge with storage and maintenance especially on straight floats. I have fond memories of flying it from Vermont to Florida and back on two occasions and enjoyed instructing in it. It's the only rating I have that seemed to be all fun and no work.

 

[Pinecone]

Every new airplane is an upgrade. You are upgrading from one that was good for what you did at the time to one that is good for what you are doing now.

 

[cowtowner]

Often had the urge to do the same, but 2 things have always stopped me:
1) I know what I have now. The idea of buying someone's plane and dealing with deferred mx and gremlins that will only be discovered during ownership is not appealing, either from a monetary or down-time perspective. A prebuy is nice but it's not possible to capture everything.
2) I have a sense of caring about my plane that is borderline irrational. It's carried me safely across the country multiple times. Day flight/night flight, on paved runways and grass, through mountains and over lakes. It's done a lot for me. I would lose sleep and legitimately feel bad if I sold it to someone who treated it with less care. I know it's just a machine, but it's got sentimental value unrivaled by anything else I've ever owned.

I’ve experienced #1

I became good friends with the guy I sold my Cherokee to. He’s treated it better than I did. I keep asking him to sell her back to me.

 

[cowtowner]

Cherokee 180 to Columbia 400

A few months after I bought the Col400, my mission changed and I quit flying to Mexico weekly

I wish I had kept the Cherokee as a “second” plane for the fun stuff like flying to dinner which I would weekly. The Columbia is a little much for that. But, I couldn’t find a hangar for it at the time

Cherokee $45k
Columbia $325k

Cherokee insurance $800 a year
Col400 Insurance $6k

Maintance for the Cherokee including annuals and new tires was $4000 for 400 hours

For 200 hours in the Columbia I’m at $40,000

Not only did my mission change, but I’ve spent over 100 days in Asia over the last 365 days. That’s killed my flying more than anything. Headed back in a couple of weeks for 3 weeks and then I plan to spend the summer flying around the country seeing customers and putting some hours on her

I’ve debated selling the Columbia, but what’s stopping me is simple. Recapture. I’d have to pay the IRS $100,000 in depreciation recapture.

 

[MajorTurbulence]

Cherokee 180 to Columbia 400

A few months after I bought the Col400, my mission changed and I quit flying to Mexico weekly

I wish I had kept the Cherokee as a “second” plane for the fun stuff like flying to dinner which I would weekly. The Columbia is a little much for that. But, I couldn’t find a hangar for it at the time

Cherokee $45k
Columbia $325k

Cherokee insurance $800 a year
Col400 Insurance $6k

Maintance for the Cherokee including annuals and new tires was $4000 for 400 hours

For 200 hours in the Columbia I’m at $40,000

Not only did my mission change, but I’ve spent over 100 days in Asia over the last 365 days. That’s killed my flying more than anything. Headed back in a couple of weeks for 3 weeks and then I plan to spend the summer flying around the country seeing customers and putting some hours on her

I’ve debated selling the Columbia, but what’s stopping me is simple. Recapture. I’d have to pay the IRS $100,000 in depreciation recapture.

Those Columbias were pretty much my often thought of pinnacle upgrade from my PA28-181. While the 400 would have given me the most options, I still dreamed of a 350 or even a 300 in great shape. Even looked at the sibling Lancairs.
But your post illustrates the sheer folly for my circumstances to do such a change. I’m not flying as much as I used to, and don’t mind the long x-countries in my Archer, even with the compromises, although my wife has gradually developed less tolerance for the trade offs. But the bottom line is the Archer is probably the last plane I’ll own because of the economic realities. And I would also sure as hell hate to re-capture deprecation.

 

[masloki]

Cherokee 180 to Columbia 400

A few months after I bought the Col400, my mission changed and I quit flying to Mexico weekly

I wish I had kept the Cherokee as a “second” plane for the fun stuff like flying to dinner which I would weekly. The Columbia is a little much for that. But, I couldn’t find a hangar for it at the time

Cherokee $45k
Columbia $325k

Cherokee insurance $800 a year
Col400 Insurance $6k

Maintance for the Cherokee including annuals and new tires was $4000 for 400 hours

For 200 hours in the Columbia I’m at $40,000

Not only did my mission change, but I’ve spent over 100 days in Asia over the last 365 days. That’s killed my flying more than anything. Headed back in a couple of weeks for 3 weeks and then I plan to spend the summer flying around the country seeing customers and putting some hours on her

I’ve debated selling the Columbia, but what’s stopping me is simple. Recapture. I’d have to pay the IRS $100,000 in depreciation recapture.

It’s interesting how much hull value drives the insurance price. That’s steep for a non-retract. And 40 AMU maintenance sounds like you had a failure more than regular maintenance, true? I’m sure I’m past that ball park on a much lower valued Mooney over the last few years but most of that maintenance was an upgrade vs like for like repair. If I ever sell, someone will get a better plane than I found it.

 

[hindsight2020]

It’s interesting how much hull value drives the insurance price. That’s steep for a non-retract. And 40 AMU maintenance sounds like you had a failure more than regular maintenance, true? I’m sure I’m past that ball park on a much lower valued Mooney over the last few years but most of that maintenance was an upgrade vs like for like repair. If I ever sell, someone will get a better plane than I found it.

On the bolded, I've made it a point to never make that the case. My inflection on the hobby has always been centered around [getting away from] assumptions of price risk. On the flip side, it has been great opportunities for profit for my buyers, as they get well discounted samples from which to work on. the warrior was flipped to a Thai flight school for a pretty decent profit by the guy who bought it from me, given how cheap I gave him the airframe and timed out engine. I've always penciled in my capex losses as a "use-tax" of my "schedules-protected enjoyment" of the toy.

As to people not having a 40AMU mx year, well in 2024 it's apparently no longer steep if it deals with a powerplant repair. I agree I think it's ludicrous, but I'm just saying this idea that engines don't go kablooewy on a non-insurable basis is a rather privileged view for owners to take. Ask me how I know.

As to insurance being stupid high, that's great news; anything that chills prices industry wide is good to me, especially given they're floated with Fed M2 stolen labor value in the first place.

 

[cowtowner]

It’s interesting how much hull value drives the insurance price. That’s steep for a non-retract. And 40 AMU maintenance sounds like you had a failure more than regular maintenance, true? I’m sure I’m past that ball park on a much lower valued Mooney over the last few years but most of that maintenance was an upgrade vs like for like repair. If I ever sell, someone will get a better plane than I found it.

A crooked AP got me for $20k for an annual that he was supposed to fix some other things. Ended up paying for that with another AP and a cylinder (valve) that failed at a class C away from home and fixed by a Jet Center.

Also a prop governor, a flat tire away from home and an oil cooler.