germb747
Well-Known Member
For the past five years, I've rented a T-hangar near Houston for my J3 for $250 / month, and I'm wondering if it might make financial sense to go ahead and buy one, likely in the San Antonio area since that's where I'm now living. I'm not really sure what's available out there because I'm just starting to look; I'm just tired of throwing away $250 every month on something I don't even own. I might consider getting something big enough so that I could rent a space to a low wing aircraft and put them both in there. Theoretically, while renting a space to somebody else (who I'd charge somewhere in the ballpark of $250 / mo), I would have about $500 per month to spend on this proposition without changing what I'm currently spending on hangar space. I'm 29 with outstanding credit; what kind of financing terms should I be looking for? Specifically, are these typically short-term loans like purchasing an automobile, or is it more like buying a house with 15-30 year terms? Obviously I'd be looking at different options at local airports, looking for the right deal, but most importantly, would you guys say this is worthwhile to pursue, or would you continue just spending the $250 per month on rent? Also, are there any good resources on the web to check for specific listings? Thanks for your input.