I've been renting planes for the last six years now. A large fleet of planes, nicely maintained, but also a large fleet of people in the club. It's pretty sad when you can't get a 172 for a couple of hours on the weekend when you call the previous Monday. And forget trying to rent a plane over the weekend. You've got to call in weeks or months in advance to get a plane for a whole day or two and hope the weather is good. And if the plane sits somewhere for the day you get charged a minimum of over $150. Doesn't make cross-country trips or weekend trips an option.
Also, I'm a little tired of the differences between all the planes I've been renting: varying inoperative gauges and avionics, different avionics, different intercom setups, different noises. If a rental I was flying was making different noises than usual (a tip-off of possible engine problems) I don't think I would be able to tell unless it was major. Not big hangups, but they add up after a while.
So I start looking at owning my own plane...
And found 30 year old planes going for serious bucks. Old planes can nickel and dime you to death with their problems: leaking seals, replace glazed windshields, upgrade the avionics, replace the interior, etc. And you're still left with an old slow airplane.
So I start looking at homebuild aircraft that capitalize on newer technology. I get the homebuild aircraft sourcebook and research homebuilts for about six months. Enter Van's aircraft, and specifically the RV-6A for me. Almost double the speed of a Cessna using the same trusted Lycoming O-360 180hp aircraft engine. Speeds around 200 MPH, and the stall speed is still down in the 50's! My choice of avionics (NEW!) and instruments placed as I decide. Capable of aerobatics. Can carry two large adults and 60 lbs of luggage. I'm really starting to like this.
Looking at renting .vs. owning, it is hard to justify owning unless you fly over 200 hours a year. Of course, I plan to fly more than 200 hours a year when I have my own plane. The real cost justification kicks in when you say "I want to own my own plane" and compare certified aircraft .vs. homebuilts. My finished RV-6A will have all brand new avionics and instruments, new O-360 engine, and still be cheaper than most decent 30 year old certified aircraft. And operate much more efficiently.
As the certified builder of my airplane, I can also do all the maintenance and repair on the plane. No more annuals starting at $1000. And if I need parts, I can get aircraft grade parts at real prices. I don't have to buy the official "Cessna" bolt and washer for $40. So the yearly operating costs are going to be much lower. Hey, this is really starting to save me money if I want to own my own plane!
I didn't know how much fun I would have building my own plane. I'm fairly handy around the house and did a little woodworking and electrical, but knew nothing about working with aluminum. And it can be fairly daunting when you look at the time involved (around 2500 hours to be conservative) and what you will have to do. BUT, I can proudly say that I am having FUN! I've finished my empennage kit, so the horizontal and vertical stabilizer is done, as well as the rudder and two elevators (one with electric trim). My wife and I are planning on having children within a couple of years, so I decided part way through the empennage to order the quickbuild kit. It should save about a 1000 hours of building, and gives me a partially completed fuselage, wings, flaps and ailerons.
Building has been fun, and very educational. It's also a real nice way to wind down after a long workday. An hour or two out in the garage is real theraputic. Well, gotta get back to work so I can go home and build tonight!