Ducks4brkfast said:
What is the most economical plane to own and operate for 5 people? It would be for trips between Houston and the Hill Country.
Here are a few options with general pricing to give you some idea for the initial investment. Owning an airplane isn't cheap and the initial purchase price is only the beginning of the joys of ownership. If you talk to anyone in the know, dropping a newly minted private pilot into a high performance, complex airplane is a really bad idea. I would recommend getting at least 200-300 hours before considering jumping into one of these planes.
Right now av gas is running $5/gallon on the low end (KLBX) so a loose guide for one of the these planes that have big 6 cylinder engines is going to burn about 18-20 gallons per hour (possibly a little less) which equates to $100 / hour and that is just fuel. You would also need to build into your hourly cost everything else which includes engine rebuild fund ($60K-$80K), hanger rental ($500/month), insurance ($3,500 annually on the very low end), annuals ($2-$10K depending on the condition of the plane) and repairs (if it goes on something with wings, it is expensive - used wheel assembly on my Mooney was $450 from a salvage yard).
- Beechcraft G36 / Purchase Price Used - 700K-900K
- Beechcraft A36 / Purchase Price Used - 250K-500K
- Beechcraft S35 / Purchase Price Used - 120K-220K
- Cirrus SR22 / Purchase Price Used - 550K-1M
- Piper Saratoga TC / Purchase Price Used - 500K
- Cessna 206H / Purchase Price Used - 400K-500K
- Piper Lance (turbo) / Purchase Price Used - 200K-220K
- Cessna 210L / Purchase Price Used - 150K-200K
In spite of the cost, owning an airplane is a great experience and really gives you a sense of freedom but it does stress the pocketbook.
I hope this sets the expectation for anyone considering purchasing one.