gwav8or
Well-Known Member
- Joined
- Nov 13, 2015
- Messages
- 253
- Reaction score
- 32
I’m struggling right now. My wife and I recently accepted new jobs in a new city. I’m starting to regret the decision but I absolutely can’t say anything to my wife. Long story short, we moved to get her out of a very bad situation. So I can’t really say it was a bad decision.
I started looking for a hangar near our new home city 8-10 months before we moved. I never dreamed it would be so difficult. Put my name on a waiting list at the local airport. Looked at all the airports within 45 minutes. Nothing. So I thought no big deal, I’ll eventually build a hangar.
In the meantime, I decided it would be prudent to sell my beloved PA-28-140. I didn’t want (wasn’t willing) to park my bird outside nor did I want to keep it hangared 2.5 hours away. So I decided to sell. It sold pretty quick and was bitter sweet watching her fly off to a new home.
So, now I’m looking at building a hangar. There are lots at my local airport at a very reasonable price. Reasonable for a ground lease that is. I’m finding that aviation real estate is probably the worst investment one could ever make. Even worse than buying an airplane.
The long and the short of the agreement is that I would lease the land for 20 years, with the option to extend for two separate 10 year terms. Not bad at all. The kicker is that when I’m done with leasing and paying for the hangar, it belongs to the airport. So basically I’m buying a hangar for the airport.
I’m on the waitlist for a rental hangar but in talking with the people that manage the airport I’m not sure they’ve even kept me on the list. I put my name on the list 10 months ago but when I asked about my spot on the list a couple months ago, the person at the front desk told me she didn’t see my name on the list.
So I’m not too happy right now. I gave up a great job at a great company, many friends, proximity to family, extended family (aviators and other hobbyists) and my airplane that I dreamed of owning for most of my life. I know it’s not the end of the world and I’ll be fine. But I never imagined.....
<peace>
I started looking for a hangar near our new home city 8-10 months before we moved. I never dreamed it would be so difficult. Put my name on a waiting list at the local airport. Looked at all the airports within 45 minutes. Nothing. So I thought no big deal, I’ll eventually build a hangar.
In the meantime, I decided it would be prudent to sell my beloved PA-28-140. I didn’t want (wasn’t willing) to park my bird outside nor did I want to keep it hangared 2.5 hours away. So I decided to sell. It sold pretty quick and was bitter sweet watching her fly off to a new home.
So, now I’m looking at building a hangar. There are lots at my local airport at a very reasonable price. Reasonable for a ground lease that is. I’m finding that aviation real estate is probably the worst investment one could ever make. Even worse than buying an airplane.
The long and the short of the agreement is that I would lease the land for 20 years, with the option to extend for two separate 10 year terms. Not bad at all. The kicker is that when I’m done with leasing and paying for the hangar, it belongs to the airport. So basically I’m buying a hangar for the airport.
I’m on the waitlist for a rental hangar but in talking with the people that manage the airport I’m not sure they’ve even kept me on the list. I put my name on the list 10 months ago but when I asked about my spot on the list a couple months ago, the person at the front desk told me she didn’t see my name on the list.
So I’m not too happy right now. I gave up a great job at a great company, many friends, proximity to family, extended family (aviators and other hobbyists) and my airplane that I dreamed of owning for most of my life. I know it’s not the end of the world and I’ll be fine. But I never imagined.....
<peace>