Looking to buy, could use some "evaluation" ballpark help

[Flyler]

Hello guys,

I am starting my hunt for a Mooney.  I'm about 5 hours away from my PPL requirements, and would plan on getting at least 10 hours of Mooney CFI time.  I am planning on going straight through to my instrument rating and was thinking that would be amazing to do in my own plane if possible.  After recently getting into the back seat of an m20F, I think the mid-length cabin is the one for me.  As a matter of fact, I sat in the back seat of an m20F that is currently for sale, and am thinking the asking price is probably quite a bit high, but otherwise it seemed great.  That, of course, could just be hopeful thinking.  Anyone familiar with reasonable prices and wouldn't mind DMing me a bit to discuss?

I'm hoping to look at an M20G, all original and hangar kept, next week as well.

[toto]

I’m not super familiar with the F model or pricing, but you might ping Jimmy Garrison @ GMax - he put together a series of pricing guides that are insightful.

Jimmy is @jgarrison

[MikeOH]

I'll give the advice I always give:

1) Recent and continuous use over the past couple of years is the MOST important factor. Be more concerned with a low time engine that has NOT flown much than with a high time engine with plenty of recent use.

2) Buy equipped the way you want, as much as possible. "Upgrading" avionics/paint/interior is going to be time consuming and costly.

Sorry, I can't help with what's a fair price these days...it's been over 6 years since I bought my '70F; market has changed a bunch since then!

[Paul Thomas]

The is a J that just hit the market in AZ with nice avionics and a low time engine for $127. I just finished the inspection on the J I'm buying and will close tomorrow... had that one been available, I would have attempted to snag that one up!

[Flyler]

9 minutes ago, Paul Thomas said:

The is a J that just hit the market in AZ with nice avionics and a low time engine for $127. I just finished the inspection on the J I'm buying and will close tomorrow... had that one been available, I would have attempted to snag that one up!

I think a J model will be out of my price range.  To be honest, at first I was looking at "cheap" C and E models.  I have done some reading and had some good advice from others on the forums here and am really looking at the F models now.  I think that extra room in the backseat will be something I regretted not spending on later.  Budget-wise I think I'm more at $85-90k.  Preferrably I would find a mechanically and exterior sound plane, with OK avionics, that needs an interior refresh.

Looking at a more local M20F that has a really lovely interior, nice avionics and dash, and "pretty OK" paint.  It has some question marks around it though.  Not enough to scare me away, but I think the asking price is high, considering.  That's really what prompted me to make this post.

[MikeOH]

Be very, very careful with any 'cheap' airplane!  It likely will be anything but, in the long run (more probably even in the short run!)

I'm very happy with my F but have only filled all the seats once in over 6 years of ownership; make sure you are realistic with your family situation and how often that is going to happen (and, you'll be in the front so you won't suffer, anyway)

An E is a bit faster. Don't turn down a good E when shopping unless you are really convinced you have to have an F.

Finally, while unlikely if you buy one that has seen recent continuous use, be sure you can handle an engine overhaul ($30K-$40K).  So, if your purchasing budget is $85K-$90K, just be sure you can deal with the disaster of an OH.  I've seen too many ramp rats that I wonder if the owner couldn't afford a sudden large expense and the plane just sits.