Hangar cost worth it?

[N601RX]

We had some people upset at our airport when the hanger rent increased from $65 month to $90 month last summer!  A couple even moved their planes out to the free tiedowns. Its all relative to what you have become accustomed to paying.

[Bennett]

San Carlos,CA. Standard hangar: $741.00 per month. 5-7 year waiting list.

[flyboy0681]

3 minutes ago, Bennett said:

San Carlos,CA. Standard hangar: $741.00 per month. 5-7 year waiting list. 

To say one could eat off of that floor would be a gross understatement.

To say rent is reasonable would be a gross overstatement.

[bradp]

Just now, flyboy0681 said:

To say one could eat off of that floor would be a gross understatement.

To say rent is reasonable would be a gross overstatement.

I'd live there.   

[carusoam]

I have to work on my hangar-ing skills.....

Mine looks like a bare Hovnanian condo more than Bennet's Toll Brother's Villa!

Best regards,

-a-

[Piloto]

5 hours ago, Bennett said:

San Carlos,CA. Standard hangar: $741.00 per month. 5-7 year waiting list.

Nicest hangar I have seen. But you are missing the recliner or a couch. 

[Danb]

On December 17, 2015 at 3:10 PM, M20F said:

It wasn't rent free it took a lot of money to store them there and doubling your money in 17yrs isn't the best return on that investment either (and I hope you included insurance, property taxes, utilities, cost for your heirs to sell, taxes, etc. in determining your rate of return on the initial investment).  I have nothing against hangers and think there are a lot of reasons to own one (same reason I own an airplane which costs me a lot of money each year that I will never get back).  Let's not kid people though into thinking it is some kind of great investment or a financially required investment to own an airplane.  

It depends on our airport a few rows of older t- hangers went up for sale about 20 yrs. ago I purchased a few at $11,500 a month with ground rent at $100 per month and electricity on a group rate of about $30 per month, the insurance was minimal not counting a discount on plane insurance. We get about $350 per month rent which has paid for the hangers over time, I sold 2 for approximately $25,000 each after ten years which made it quite a good investment not including the depreciation and expenses being tax deductible and monthly income along the way.

Subsequently with the proceeds I purchased a new t hanger heated, insulated with an office etc. so each situation depends. I have one client who owns about seven hangers rented at  $400-$550 per month. The rental costs are all over the place.

[M20F]

10 minutes ago, Danb said:

It depends on our airport a few rows of older t- hangers went up for sale about 20 yrs. ago I purchased a few at $11,500 a month with ground rent at $100 per month and electricity on a group rate of about $30 per month, the insurance was minimal not counting a discount on plane insurance. We get about $350 per month rent which has paid for the hangers over time, I sold 2 for approximately $25,000 each after ten years which made it quite a good investment not including the depreciation and expenses being tax deductible and monthly income along the way.

That is buying a hanger for rental income versus putting your airplane in it.  I have nothing against hangers and there is a huge upside in having one, it isn't though a requirement for ownership; doesn't hurt your airplane if you don't have one; and certainly isn't a positive ROI on your money.  

[Guest]

I doubt anyone renting out a hangar for a few hundred a month is making any money.  Our airport sold off its last hangar a few years ago.  Now if you want one they lease you the land and you build your own.  We have north of 100K in our heated 2000 foot bay, definately not for the faint of heart.

Clarence

[Bennett]

5 hours ago, Bennett said: San Carlos,CA. Standard hangar: $741.00 per month. 5-7 year waiting list.

Nicest hangar I have seen. But you are missing the recliner or a couch. 

If I had a couch in the hangar, I'd never leave.

[Hector]

San Carlos,CA. Standard hangar: $741.00 per month. 5-7 year waiting list.

If my hangar looked like this my wife would divorce me because I would never come home

[75_M20F]

Definitely pay the money and take the hangar.

Corrosion is death to little airplanes, not total time or age.

I have two hangars one where I live, and the other where my dad lives because I visit so often. So, I am paying for two just to keep my plane out of the elements.

Mike

 

[Danb]

13 hours ago, M20Doc said:

I doubt anyone renting out a hangar for a few hundred a month is making any money.  Our airport sold off its last hangar a few years ago.  Now if you want one they lease you the land and you build your own.  We have north of 100K in our heated 2000 foot bay, definately not for the faint of heart.

Clarence

Clarence your partially correct that you may not make money on the rental portion, but when folks start calculation of negative ROI, all assumptions need to be included including the FMV of subsequent sale. In my instances for one hanger purchased for $11,500. Then $350 per month income plus monthly expenses minus depreciation then your missed portion of selling the hanger for approx. $30,000 in my finance class that's quite a ROI. 

Do many of those who don't have hangers feel having your car in a garage is worth the added cost?

[Bennett]

Definitely pay the money and take the hangar.

Corrosion is death to little airplanes, not total time or age.

I have two hangars one where I live, and the other where my dad lives because I visit so often. So, I am paying for two just to keep my plane out of the elements.

Mike

 

I've done the same thing. I used to visit my daughter often enough that a second (far less expensive) hangar made sense. And it gave me an excuse to store a fully restored '69 Camaro in the hangar, plus having ground transportation. I really hate leaving aircraft outdoors. I know the arguments that for the cost of a hangar you can have aircraft repainted often, and/or use the money to buy avionics, etc. but I think that preserving an aircraft is important. Over the years I have had aircraft on tie downs, and under shade structures, but there is nothing as satisfying as a personal hangar.

[Marauder]

13 hours ago, M20Doc said: I doubt anyone renting out a hangar for a few hundred a month is making any money.  Our airport sold off its last hangar a few years ago.  Now if you want one they lease you the land and you build your own.  We have north of 100K in our heated 2000 foot bay, definately not for the faint of heart.

Clarence

Clarence your partially correct that you may not make money on the rental portion, but when folks start calculation of negative ROI, all assumptions need to be included including the FMV of subsequent sale. In my instances for one hanger purchased for $11,500. Then $350 per month income plus monthly expenses minus depreciation then your missed portion of selling the hanger for approx. $30,000 in my finance class that's quite a ROI. 

Do many of those who don't have hangers feel having your car in a garage is worth the added cost?

God I love it when you talk accountanese.

Sent from my iPad using Tapatalk

[mike_elliott]

On ‎12‎/‎18‎/‎2015 at 0:44 PM, bradp said:

I'd live there.   

If I had to spend that kind of $ I would have to live there!

[Geoff]

Hail is bad.

Hangar is good.

 

[TWinter]

21 hours ago, Mooney_Mike said:

Definitely pay the money and take the hangar.

Corrosion is death to little airplanes, not total time or age.

I have two hangars one where I live, and the other where my dad lives because I visit so often. So, I am paying for two just to keep my plane out of the elements.

Mike

 

I tried doing that until our friendly FAA Gods did a records check of hangers in the area. I had one here at my home dome and another 25 miles away where my folks live. The city Code Enforcement where my folks live called and said they got a call from the FAA asking questions about my plane, tail number and was it hangered there.

Apparently, as a routine check the FAA will do a check of hangers assigned a different fields and what tail #s are assigned to those hangers. In my case my tail number showed up at as assigned to my home base and also showed up at my folks field data base of assigned hangers. FAA said, No-No! One tail # assigned to one hanger. You can't have two hangers assigned to one tail #.  End result was I had to give up the hanger at where my folks live.

These were municipal hangers and not privately owned. I'm sure this makes a difference. There was mention that our friends at the FAA have been clamping down on this because of Homeland Security. I guess the moral to the story is if you have two hangers and they are city owned..keep it to yourself. It was all news to me. It was too bad, the hanger I had to give up the nicer of the two. Just a pass on of info..

 

-Tom

[bradp]

 

Just now, daver328 said:

What I gleaned from your post. 

Must be a good son to visit your folks enough to need a hanger there. 

You have money for two? I am crying over the cost of one! 

The FAA ... sigh ... I already knew that ... 

 

  Prima facie seems a regulatory overstep at best, but whatever municipality used federal funds is beholden to whatever rule making the FAA comes up with.   I don't think that a hangar can be taken away unless it's deemed to be of non-aviation use, but that might be an AOPA advocacy issue or one for the lawyers.  

 

https://www.federalregister.gov/articles/2014/07/22/2014-17031/policy-on-the-non-aeronautical-use-of-airport-hangars

 

 

[aviatoreb]

I think Bennet is getting a good deal! - Actually, $741/month in the Silicon Valley/SF Bay area is fantastic to $230/month I am paying for a (near newly built) 44' wing span t-hangar in rural St Lawrence County Ny.

The median house cost in Bay Area is $661,000, http://www.sfchronicle.com/business/networth/article/Bay-Area-median-home-price-approaches-record-6454098.php

home of the million dollar shack: http://www.sfgate.com/news/article/Million-Dollar-Shack-documentary-Bay-Area-housing-6582122.php

while in St Lawrence County, where I keep N10933 at KPTD (1.5 mi from my house), median house sales cost are $64,962.  1/10th of the cost of housing in the Bay Area.  Soooo..... I figure I should be paying $74.10 per month for hangar to compare with Bennett.  Or Bennett would need to pay $2,300 to compare to me!

Actually, at the housing costs in that area, a person could save a lot of money by buying an airplane and renting a hangar and living in the hangar, vs buying a million dollar shack.

P.S. On those occasions when we get 3 or 4 feet of snow, and I need to shovel out from my hangar about 18'' to where the airport plow had cleared in front of the hangar - golden.  And the tie downed airplanes some of them begin to sit on their tails as the snow on the back of the plane changes the balance.  Most of the tied down airplanes become completely inaccessible in the winter and occasionally almost disappear under mountains of snow.

P.P.S. News flash - winter has decided not show up yet this year.  It has been very warm.  50's still last week.  40's on Christmas.  No white christmas here for the first time I have ever seen.

[Danb]

1 hour ago, bradp said:

Erik, the air gods know you want to exercise that bad a.. prop of yours

 

 

[StevenL757]

On December 17, 2015 at 6:01 PM, NotarPilot said:

I think I have you all beat. I pay $625 a month and all I get is a t hangar with one working outlet and fluorescent lights. The remainder of the outlets do not work because the wiring is old and they trip the breakers too often to even bother resetting them anymore. I refrain from complaining or asking them to get fixed out of fear that those repairs would result in an increase in my monthly rent. My rent has held steady for nearly four years.

Not quite.  I'm at $680/mo. right now, which will go to $700 on Jan 1, 2016.  I get a power door, electricity, and insulation, and although it's complete protection, I cringe a slight bit when I write the check every month.

[steingar]

On December 18, 2015 at 10:53 AM, aviatoreb said:

In years past, by now I have been XC skiing since mid November on a daily basis.  Now we have had weeks of mid 40s to mid 50s with mid 50s a lot of next week incl on Christmas.  It is dramatically warmer here than I have ever seen.

Here too.  Supposed to be in the sixties by Xmas.

[aviatoreb]

1 hour ago, Danb said:

2 hours ago, bradp said:

Erik, the air gods know you want to exercise that bad a.. prop of yours

You bet!  You should get one Dan - there is an STC for the Bravo.  You wouldn't believe how smooooooth it is.  And you save a bunch of weight off the nose -  35lbs+ in mine - its much lighter in pitch and feels like a much smaller lighter airplane now.  

[TWinter]

8 hours ago, daver328 said:

What I gleaned from your post. 

Must be a good son to visit your folks enough to need a hanger there. 

You have money for two? I am crying over the cost of one! 

The FAA ... sigh ... I already knew how devoid of common sense the government can be ...

Cost of hangers in this part of the country is $150 at my field. The cost at their field was $125. So $275 for both was not bad. The ones at their field were brand new with bi-fold doors(actually the hanger in my avatar). I wish the hangers at my home field were as nice. I kept a beater vehicle there so I could fly over and visit and have wheels to drive to and from the airport to their house.

As far as being a good son and needing a hanger there.  I lived 1500 miles away from them on the east coast for the first half of my adult life with occasional visits. Retired and now I'm in my 50s and they are in their 80s. Life is short and they have always been there for me..It's my turn to make sure they are taken care of..

 

-Tom