Hey Everyone.
I just started to look into airplane ownership and I am trying to put together a budget and get an understanding of the current market. I have read past posts discussing the increase in pricing but I haven't seen any recently and I couldn't find any that answered my questions completely.
1. What was pricing like before COVID compared to now? Most M20K or Bravo that I am looking at are in the $150-200K that need some modernization, or $250-300K that are ready to go. What was that like before? Most posts just say its more expensive, but does that mean double or like 20% more?
2. Are there more aircraft available for sale now than two years ago? Is the supply returning to normal? I read lots of estimates that 2023 was going to be like that, but nothing talking about what 2023 actually turned out to be.
3. What about parts and average yearly maintenance? Seems like before was $20-40k and now for a turbo its likely $40k+?
4. I get there is no 'correct' answer to this question, as it is anyone's guess. But what is the trend looking like going into 2024?
5. This is kinda related, but what is the general consensus about the ongoing viability of maintaining Mooney's given the state of the company?
I appreciate everyone's help. I am a detail oriented researcher and looking to buy mid-late 2024, unless the perfect option comes up. I will be selling this aircraft in 5 years, so I am a little more concerned about long-term value. Thanks.
Adam