I pick up a nicely equiped, later model Aztec (about $150k range) and keep the rest for operating expenses, insurance and overhauls.
Or, buy a nice, used 172 for about $50k, sink $100k into upgrades and keep the rest for operating expenses.
While new aircraft are pretty spiffy there is no reason whatsoever to justify (I'm speaking "morally" here .. I know exactly why they cost that much) a 1/4 million dollars for a four-place, 160HP basic-trainer aircraft. It's ridiculous. Especially when they are the exact same aircraft as the used models and you can pick up the used models for almost 1/10th of what the new ones go for.
No matter what I'd buy a little less aircraft and use the balance for expenses. Anyone can buy an aircraft - the expensive part is operation and maintenance!