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Help with a detailed budget.

Sleepy

Sleepy

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My wife and I are getting ready to start building an RV-8. I was hoping to create a detailed budget for the project. Unfortunately, other than the big parts I don't have the slightest clue as to what all the little stuff that is required.

Please share your thoughts or point me in the right direction. If you've done a spreadsheet or list and are willing to share that would be great. As soon as I get mine done, I'll post it for review and future builders.

Thanks,
Scott
 
Hi Scott,
Congrats on getting the first hurdle, convincing the wife!!! I am on the same boat in terms of creating a budget for the build. As for us we are planning to build a 10 and found that Brian and Brandy's website is a good starting point because they list some prices. I also found out that craigslist has some hidden treasures if you know what you are looking for and how much you want to pay.

Hope it helps.
 
I have a "things to buy" list on a spreadsheet. Some stuff has no price (yet), because I haven't needed to buy it. Other stuff gets comparison shopped and choices decided on. When I buy something I mark the cost on the spreadsheet. I also track all of my items in Quicken under a specific category. I'm paying as I go, so no "budget" per se. Last month was expensive because I bought all of my avionics. This month so far no purchases. Over my build I have found many unanticipated expenses that add up. I doubt any first time builders could plan for everything up front. Van's estimates are pretty accurate within a wide range of cost conscious to extravagent. Let's just say mine is approaching the latter. :D
 
spreadsheet on costs

Scott,
I kept track of every purchase for my build on a spreadsheet. PM your regular email and I will send (don't think I can do attachment thru forum). Will show date (10/07--11/10), where bought, what bought and how much. Any changes from Vans plans will cost in dollars and time. An example would be the wingtips. Vans supplies pop rivets. Enough people want to use screws and nutplates that Vans actually shows these as an option in the instructions. But the screws and nutplates must be purchased extra, about $50 worth. It is a bunch of money but you don't have to spend it all at once.
 
I would think about what you plan on putting into your aircraft. What are you planning to put into it?


I. A used mid-time engine will have much different costs compared to a brand new kit engine and different costs to a brand new turn-key engine. This will include A&P inspection/tear down fees or whatever.

II. Avionics choices: Steam or EFIS, Autopilot, etc, prices including the little "extras" will change costs.

III. interior choices, Making your own? Purchasing Full interior or just seats?

IV. Brake lines/ Fuel Lines/Fuel Selector? Going with Stainless or bending your own? Youll need different tools for either, youll need some extra tubing if your doing it yourself because you will mess up.

V. Painting/priming choices - This will determine what type of compressor set up and painting tools.
 
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VI. Throttle quadrant choice

VII. Trim choice (electric or manual)

VIII. You will need fiberglass materials for tips/fairings
 
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Mike S said:
This sounds like a good way to scare yourself out of building:eek:
Click to expand...

HA I love it!:D
Seriously, go to Vans website and look at their cost estimator and add 10% That will get you into the ball park. There are SO many little things it would be impossible to list. Tools, tape, fiberglass, psychiatric counseling sessions (for when you really screw up:D) equipment, workshop stuff, compensatory items for the wife (you are building a plane...she needs her things), etc. It never ends. Just plan on anywhere between 35K and 100K and you should be good:D.
If you are on a budget...don't buy all the fancy tools just the ones you absolutely need. A $700 pneumatic squeezer is nice but definitely not necessary. Do you need a 40K panel or can you get by with a 10-15K panel or even a 5-8K panel? Do you NEED a constant speed prop? Think it all through.
Don't get hung up on the details, just get started!!
Good luck!
 
There will be lots of ad hoc orders to Vans,Aircraft Spruce, Wicks and others, often for fairly small hardware orders.
If a guy was organised and disciplined not to expect parts immediately, he could save significant money on shipping by combining orders.

Unfortunately i am not one of those people, but I know it works in theory.

Also, don't forget sales tax.
 
Dont add up

I took the advice of an old time builder who told me "don't add up It'll just make you sick". But a good ballpark figure will be between 30k and 100k. I did keep all my receipts in a big bag just in case but no way am I going to add them up.
 
My opinion: Figure around $80-90$K for total build cost of an RV optioned out as a 7 or 8 out of 10. (8 of the 10 latest and greatest features available, non IFR) Price also depends on how much you do your self vs job out. The engine and panel choices make the largest price changes.

Going to a 9 out of 10 with jobbing out some of the work canl increase your total build cost $20 - $40K.

My experience and my opinions only.

Other VAF members may have more and/or more current info than I.
 
The biggest hidden cost is shipping. The big ticket items are expensive to ship. While the intial cost is more expensive, you can save money if you buy multiple kits at one time.

You'll find as you progress through the build, you'll be ordering from a multitude of vendors. Especially on tasks that aren't specifically called out in the plans.

Once recent change is that Aircraft Spruce just recently started offering a new credit card that offers a 2% discount and free shipping. I've lost count of the times, I was short one bolt or nut, or just needed a few bucks worth of parts. With UPS shipping between ACS and here running about $12, this card is a godsend. I bet I would have saved over $500 if I had this card from the beginning of my build.
 
Thanks Everyone,

All great advice and a little humor to boot. We are figuring between 80K-90K and even that is not necessarily set in stone. I have always found having a detailed budget helps stop most of the budget creep and gives you a baseline to make good value decisions when necessary. Nevertheless, it is full steam ahead. The next decision is how to document the build.

Thanks again for the help and words of wisdom!!!

Scott
 
couple things Scott- you are right across the river so you should be able to buy what you need from vans in person, save on the shipping and expensive sales tax ;)

Also maybe you end up with an AFS avionics, that would be no tax as well!
 
Sleepy said:
Thanks Everyone,

All great advice and a little humor to boot. We are figuring between 80K-90K and even that is not necessarily set in stone. I have always found having a detailed budget helps stop most of the budget creep and gives you a baseline to make good value decisions when necessary. Nevertheless, it is full steam ahead. The next decision is how to document the build.

Thanks again for the help and words of wisdom!!!

Scott
Click to expand...

I have built four, a 6,7,9a, and a 10. Never had detailed budget for any of them. For other than the actual kit and the things I was absolutely sure I was going to use, when the time came in the process to get an item, I searched for the best price at the time. If you plan on using Aircraft Spruce, the price in the catalog is seldom the price on the invoice. However a couple times I was pleasantly surprised when the price went down. I do have most of the invoices, but never added them up. I all boils down to ya save on some things and lose on others. But.......if ya spend too much time on nickel & dimeing everything, you'll never get'r done. IMHO:) P.S. the comment on shipping is very true...it's not a small issue anymore.

Ed Booth, Trenton, SC
 
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