Buy/build a new Experimental or an get an old GA and refurbish it?

Hi folks. With today's prices for new (and old!) GA planes, looks like the experimental/home built/LSA market is looking attractive.

Yes, I know that I'm comparing apples to pineapples, but both will fly you places. I also know that some LSA/ELSA have price tags of 200K-300K and more (brand new) but also some are below 100K.

So what are your thoughts on this? Where will you put your money if you were to start in aviation all over again? Will you buy old GA and upgrade or buy/build new-ish Experimental?

Current thoughts (at a ~70k price point) include:
  • buy SLSA (say, mid-2000s CTSW), convert to ELSA
  • buy RV6/7/9
 
I've owned 2 projects that I've refurbished/upgraded, one turn-key, and am building one. They've all worked out well, but I can't really give a great answer.

For me, the projects were flyable so I was able to fly while I made them into good planes. I think that's key, having something to fly now.

I had a turn-key Comanche which was awesome for traveling, but I don't do that as much with kids. Currently I have a Grumman AA-1A to fix-up and fly and am building a Zenith CH750. I like to wrench and have done almost all the labor. I guess I've saved money, but I do it for the craft.

Don't consider building or refurbishing if you don't enjoy the process. It "might" be cheaper and (key) you end up with exactly the plane you want, but if you don't enjoy the process it will crush your soul.
 
Building is a lot of fun but flying is a lot more fun.
 
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