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Building an RV in this economy? Are you nuts?

Brantel

Brantel

Well Known Member
Ok,

Some people seem to live on a different planet than I do and seem to be able to work little, spend allot and get away with it. Others work hard and earn allot more than the average Joe and get away with it. Then there are people like me that love airplanes have a life long dream to build and fly their very own, have a family, house payment, bills, and a job that pays average for the classification but that is on very shaky ground due to the poor economy.

Those of you in my tax bracket, how is this economy affecting your build?

Right now I am right up against the point where I must poo or get off the pot and either put this thing on hold or order the rest of the FWF stuff, a prop and my panel items.

I see today that this train wreck continues to happen in slow motion and to be honest, I don't think there is a way to stop it at this point. Are people like me nuts for continuing to sink money into their builds?
 
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Unless you are getting laid off build on. Look at your job, and your situation, and stop watching the news. I just ordered a -12 kit, so if you are stupid I'm right beside you!
 
I don't pay too much attention but this is starting to get pretty serious...

Geico266 said:
Unless you are getting laid off build on. Look at your job, and your situation, and stop watching the news. I just ordered a -12 kit, so if you are stupid I'm right beside you!
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Oh, I definately agree to that. Most of my retirement is currently invested in the RV and for that I am happy it was not invested in the market or otherwise it would be gone right now with the rest of my 401K.

Red Voodoo said:
I think that long term, your RV will prove to be a better investment than most stocks these days.
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Passion, Brian......

....while you build is an aphrodisiac that makes you sleep well, smile often and love life.

Naysayers are on my "to avoid" list. We don't now what the future holds and we're all waiting with baited breath but life goes on and just figure your priorities, arrange things carefully but keep building, even tho' it may be at a somewhat slower spending pace.......my opinion...02c

Regards,
 
Brian, I share your concern. There can be many dark closets that we all have to get through. As I am sure you have already discovered, getting through one will ultimately turn up another one...somewhere...sometime.

Being unsure of a financial future is quite unsettling, especially when you are the one that is pursuing a dream or lifelong ambition of building and flying your own creation. Besides the economy, there are many opportunities that can result in the same financial uncertainty...life threatening illness of a loved one; a kid(s) that decides to take a different path...and results in a diverted money path to correct; property damage that is excluded from homeowner insurance; don't forget the college fund; you name it, the nest egg is always at risk.

I certainly don't have any answers, just the same questions as you. At this point, I don't think I need to order any more parts, I just need to finish the behind-the-panel wiring (yeah, dream on noel). But I still wonder where the economy will take us, and if it is going to claim another "confirmed kill". Or, will I find the "light switch" in the closet, as I always expect, and look forward to the next door...YOU BET!!
 
Brian,
I too have been thinking about this an awful lot of late.

I have all the Van's kits now for my RV-7 and I bought my engine in Feb08. Two months after that I got made redundant and haven't earned a penny since. So far I've got two years of my life invested in the plane so I'm not going to give it up now. But the future costs of hangarage, insurance and fuel do look daunting.

You have one major advantage over me - you're US-based, I'm in the UK. I still have my avionics to buy. Due the recent huge drop in value of the GBP against the USD, in the last four months everything has increased in price by 30%. Try to imagine a 30% increase on Comm, Txpr, Intercom, AP, EFIS, EMS, backup instruments, electrics, etc - and no salary coming in!!!

I don't for one minute regret getting involved with the RV. It has changed my life. After 28 years in IT, I've now gone back to college and am 2 months into an Aeronautical Engineering course (akin to training for your US A&P I think).
Now, maybe this was a crazy decision - who knows whether I can get a job in aircraft engineering in a year's time - but I'd rather spend the tailend of my working life trying to do something I really enjoy.

Keep going Brian, and thanks for all your posts on VAF. I've found them very helpful.

Steve
UK
 
Lots of us are worried

While I'm still well employed, unexpected RV expenses have put a bid dent in the emergency fund. 4 new cylinders will be arriving tomorrow and installed Saturday. Maybe a couple of weeks of work before we're flying again. I hated spending the money but I'm making a pretty sizable airplane payment and hanger rental each month so if I don't fly that seems wasted. Even if I decided to sell the RV it sure won't sell for much without a good engine on the front!

Business at my employer is slowing but not as much as at many places but a lot of my income is from a bonus which relates to profits so there is that uncertainty.

I like what some have posted though. Basically it could all end at any moment. I have worked very hard for many years to get to a point where I could have a special plane to roll out of a hanger when I want to, whether to just tool around in, practice my skills, or to take an occasional long trip to Sun-N-Fun or the Black Hills of South Dakota or the Texas coast. If all goes well the plane will get paid off and be my retirement toy. If I ever get to retire.

If houses were selling now I know what I'd do. I'd sell our big house now that the kids are gone and live in a trailer if I had to if it meant being able to fly my RV!

Like Pierre said - we don't know what tomorrow will bring. I choose to do all of what I must, most of what I should, and some of what I want!
 
Brain, it is affecting my build plans. I'm self-employed, heavily into the light commercial truck business, and the financials say revenue is off 36% from last year. So, avionics will have to wait until the red ink stops. However, Pierre (for one) is dead right. If I didn't have my project passion I'd go nuts, and I have plenty to do before I have to buy a big-screen panel. I'm still building, small dollars here and there. You finished all your glasswork yet? Doesn't cost much, eats a lot of time. Maybe you could paint?

The whole thing is about fear. I'm in Montgomery, Alabama; huge state and military payroll, very stable. Like most of the small cities, we never had a housing bubble. The small to medium local banks are fine and there is plenty of credit union money. Local unemployment figures are only around 3-1/2%.

There is no fundamental reason for a local recession, but we're having one. People are just scared and sitting on their wallets. Consumers, bankers, and business people, all the same. You too, and me. We'll be stuck here until we all get positive.
 
Me, too.

Not sure of your tax bracket, but I'm right there with you, Brian.

I've got a good recession-proof job, but not getting rich. Wife in college so not working. Lots of big dreams, but limited $$$'d for them. I'm doing the pay as I go plan, but that stream seems to have dried up. Whew! so much for the sob story.

Here's my plan to weather the storm(subject to change). Keep building at a slower pace. Then once I'm out of parts, I'll figure what to do at that point.

I think the economy will recover before I get flying, so any/all money spent will be a worthy cause.

Hang in there.
 
Just do it...

The economy is NEVER going to get better.............unless we SPEND!!!

We are not all self sufficent farmers, and the nation as a whole depends on people spending money for each others services and products.

So think positive; and find some way to help promote the future of the USA!!! :)

BUY BUY BUY!

L.Adamson
 
Interesting topic

As Dan noted, building is therapy for most of us. Building is time that recharges life's batteries and makes us feel good. All else should fall in place. Fortunately, you can build a RV to near completion sans the big ticket items of engine, avionics and prop.

If you are in that scenario, you can take the time really become a perfectionist, correct those things that were okay but you didn't like and finally, learn some fiberglass work.

Despite having a great retirement check and a job where I'm working too much I'm taking a slow path for now. I'm blessed to have one flying so I definitely have no need to hurry.

Hang in there everyone. Be positive.
 
Luckily I purchased the whole RV-4 kit, I got all the tools, lots of primer, lots of rivets, found a "local" dealer of aluminum, and by the time I need to purchase the engine, the economy is booming again and the exchange rate for dollar is low :)

As I see it, there is no change in the real value of things, but in lots of areas the perceived (and often imaginary) value has been blown out of proportions, and is no touching the ground again the hard way. Our RV kits have comparably gained in value, and even more so when they are finished.
 
L.Adamson said:
The economy is NEVER going to get better.............unless we SPEND!!!
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That is not entirely true. We need people to spend their money WISELY. We as Americans need to be wise consumers. That means not leveraging ourselves to the hilt with debt, using debt wisely and sparingly. Living within our means, and when we do use our financial resources, do it wisely.

We are in a capitalist system. Companies with poor business models, products, or over use of debt will suffer. Companies that survive will need to have either superior products, business plans, or low debt to weather a down turn.

I am concerned about the future. We don't know how long, or deep this recession will be. My career depends on manufacturing, so as business slows, so will growth. Our company is debt free, and has been planning for this.

The RV Project will continue, but I am not going to put our household at risk to do it.
 
Pace yourself with your budget and build on. You will never have a finer airplane for the money.

JMHO,

Roberta
 
one step at a time

I'm just about done with my -9A fuselage.

I'm well into flt school (just did my 1st solo today).

Don't know what the future holds.

My business has been slow since last month.

I have enough money to finish flt school.

Then, I have to save up for a finish kit (and all the rest).

I'm just going to take it one step at a time. If business doesn't pick up, I'll just
have to delay the project until the money is there.

I'm not giving up. EVER.

Dave
 
Sid Lambert said:
You only live once.

Don't be the old guy wishing he had done something. Do it!
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Brian,

Boy is this on the money (pun intended). After wanting an airplane all my adult life, I finally did it at 50. The ducks just lined up at that point, and though I sometimes feel like I missed a lot of years of fun, I'll still make the best of a lot of years to come. At your age, you can invest of yourself wisely in this project, and reap the rewards for a lot of years. As they say, the only thing you can't get back is time!

Your doing it right, building your dream with an eye on $$ (I remember you have another little one on the way). I'd think of it like compound interest...every bit you invest of yourself now will come back to you many times over (much of it in intangible, "wouldn't-trade-it-for-all-the-money-in-the-world" ways)! And I agree with Pierre below...the naysayers are always louder than the rest of us that believe the glass is half full. The power of compound interest will come back (IMHO...heck, I'm an optimist), and you'll have lotsa time to enjoy your plane with your family and build (or rebuild) your wealth.

pierre smith said:
....while you build is an aphrodisiac that makes you sleep well, smile often and love life.

Naysayers are on my "to avoid" list. We don't now what the future holds and we're all waiting with baited breath but life goes on and just figure your priorities, arrange things carefully but keep building, even tho' it may be at a somewhat slower spending pace.......my opinion...02c

Regards,
Click to expand...

I gotta believe that looking back in a few (or more) years, you'll be really glad you "got 'er done", for so many reasons. How much does owning an airplane cost...a pretty penny. But how much is owning an airplane worth...PRICELESS!

Cheers,
Bob
 
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You Have to Decide

If you know you cannot afford it then you certainly should be wise enough to stop for now for yourself and the well being of anyone that depends on you. There is no excuse for throwing yourself into the growing pot of irresponsible financial decision makers. If you were on your own and focused on this grand life experience you wouldn't be asking the question - your pause to consider the risks is worthwhile I think.

Bob Axsom
 
RE:$$$$$$$$$$$$$$$$$$$$$$$$ Problems

Brian and all you great VAF Folks

Great Thread.

I am retired......wife just retired (man is the $$$$$ getting slim).....and it looks like we as a nation will be in an economic down turn for a while.......

But remember, America (WE THE PEOPLE) have always overcome some REAL Troubled times. This will be no different.

I have spent my whole 4 plus years project (September 4 2004 was day 1) finding time to build, building, and finding the $$$$$$$$$$$$$$$ to buy the parts to keep building. I started the project on the faith that in good times or BAD I would be able to continue....

My motto has been "Life is a series of problems in which successfull people solve their problem successfully".

Your young, intelligent, healthy, eneregtic, and have a dream........DON"T LET THE DREAM DIE AND NEVER EVER GIVE UP.....

Just build as your finances allow..it may take longer but it will get done

Good Luck

Frank @ 1L8 ....RV7A... Paint Prep / Paint
 
Sunk Cost

I'm finishing up so all of my costs are "sunk" so far. Everything from now on is essentially free - all I need is time!
 
Most people miss the simple solution. Build your RV with someone else! You can't use it all the time. It's much cheaper.
 
BrentHumphreys said:
That is not entirely true. We need people to spend their money WISELY.
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Fine............spend wisely. However, at the moment, there is little lending for large ticket items. This includes houses and automobiles. If the banks don't lend, and consumers don't buy...............then that's the end of our prosperous nation. We can all sit back, hoard our savings for a rainy day; when it's already a fierce storm outside...

The three little pigs against the wolf, and the wise ant against the grasshopper, don't apply any more. To be prosperous, we all must depend on each other to maintain jobs. As I previously said, we are not a nation of self sufficient farmers. I refuse to sit back and watch the pig with the brick house and ant survive, while the economy digs a hole for itself because of fear. It's not as if a major calamity such as earthquakes and hurricanes have covered the world. It's fear that keeps snowballing as it rolls across the world.

L.Adamson
 
jsharkey said:
I'm finishing up so all of my costs are "sunk" so far. Everything from now on is essentially free - all I need is time!
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He, he..... :D

Fuel, insurance, hangar,................more fuel.... :)

Mine's done and payed for. But I still seem to spend money on it.

L.Adamson --- RV6A
 
Brantel said:
Ok,
Those of you in my tax bracket, how is this economy affecting your build?
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Of course, I'm a slow builder anyway, but I'm going slower. Being an older white dude in a declining industry (news media), I have lots of worries about the future. I wasn't real bothered until I bought the engine and used home equity. I've ordered about 7k worth of stuff from Stein. That'll have to go on there too.

Basically, until things look up, I've got to build around what I've already got in my possession or on order. So I won't be flying anytime soon, but then again, I wasn't going to be anyway.

It's the uncertainty that makes it difficult. I don't see how I can afford to retire and while everyone preaches "long term," when you're 54 and only 11 years (with luck) from retirement, there is no real long term. What's gone is gone and retirement plans have to change because it's not going to come back to the same levels very fast.

I've still got some college expenses to fund and all that and those family things are still, and will always be, the priority.

All in all, building is still a blast but I look at all these dual Chelton, multi Vertical Power, yada yada yada yada an think, "well, good for you, then."

But I think one of the values of tough times is to snap us back to reality and practicality and I think that's true for homebuilt airplanes too. I was already paying attention to Van's "keep it light" mantra but as I go now I realize that I need airspeed, altimeter, engine monitoring, some situational awarness and that's it. Entertainment systems? Nah. Backup backup systems? I'm a day VFR guy. Nah.

So it's strip down, lighten 'em, and keep the financial profile small.
 
Darn tootin right she is.

robertahegy said:
Pace yourself with your budget and build on. You will never have a finer airplane for the money.

JMHO,

Roberta
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My problem is my time budget. I have had the Fuselage kit in my garage for over a year and all I had time to do is inventory it.

Although all my other parts are now ready to paint and some of those pieces were completed during that time.

This could actually be good fortune for you.

Now you have the time to be a perfectionist.

Don't worry. Not worrying typically extends your life, and by a goodly amount.
That alone should give you time to finish your project.

I am not saying don't be concerned, just don't let yourself lose your dream.

The dream of flying in your own plane is a beautiful dream, enjoy that while you make patient progress, someday it will be a reality and you will be thankful for the dream, the effort and the results.

I have been building my RV6 for over 10 years, and while I would like it done soon, it may not come out that way.

Even so when I am in my Garajmahal (Large Heated Garage) and working on it, I know that I am so blessed and privileged to have been given just the opportunity.

I have been cursed for my optimism sometimes, but.....with the current affairs.

All this poo, there has to be a prize pony around here somewhere!:rolleyes:
 
Definitely slowing me down

While my business is stable for now, the downturn has taken me from a position of "willing to borrow" for the next sub-kit, with the intention of paying it off over several months, to "mandatory pay as I go".

I would feel like a complete idiot if I suffered some business downturn and I didn't have the "get through it" money saved or available to borrow because it had been spent on an airplane. Memories of wonderful life experiences don't buy food, clothes, or shelter.

Which makes me think of another point. Before starting the build, the idea of potentially stopping partway through (for whatever unforeseen reason) and trying to find a buyer for a partially-completed homemade airplane really scared me.

Seeing the robust market for kits at all stages in the "VAF Classifieds" really helped put my fears to rest in that department.
 
L.Adamson said:
Fine............spend wisely. However, at the moment, there is little lending for large ticket items. This includes houses and automobiles. If the banks don't lend, and consumers don't buy...............then that's the end of our prosperous nation.
L.Adamson
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I refuse to accept that a healthy economy depends on the ability to acquire debt. I realize that there are issues with credit markets largely due to recoil from the irresponsible, and in my opinion unethical, lending practices of the past years.

I am not a credit rating fanatic (don't care about that) but I am reasonable sure that I could drive down to the bank and arrange for financing tomorrow if I wanted to take out a reasonable amount of debt that is within my means.

What is going on is loans were being made to people that couldn't afford them. That capital was being fed into the economy and stimulating growth. Not unsurprisingly these bad loans are not worth as much because they were bad risks in the first place. Now that credit is at issue, loans are more difficult to come by for riskier borrowers, and now there is not as much rampant spending.

Now that the craziness of the election is over, things will stabilize, and we will see more modest growth in about a year.
 
Brian,

Keep pounding those rivets, you have nothing to lose at this point.

In early 07 I took a risk and hired on as the CTO for a high end furniture manufacture. It was a big risk but I was willing and the money was good, very good.

With my budget getting cut in every meeting, the lack of a desire to improve the IT systems and people, in addition to having access to the company financials told me that my days were going to be limited. As it turned out, the news came two weeks after I told my boss that Nora was pregnant and my last check coincided with my birthday in June.

The market for someone with my skill set is very limited and we have significantly reduced our spending on nonessential items.

If this had happened while I was building, I would continue working on whatever sub-kits I had at home, look for bargains on miscellaneous parts, and continue on. At least as much as my budget would allow.

This is also another reason why I built a -9. My goal was to build the plane w/o draining my savings account and/or taking out a loan. The -9 could use a smaller engine, which I knew would be less costly.

When I made my first flight, the total I owed on my plane was $260 on one credit card for some last minute items.
 
L.Adamson said:
He, he..... :D

Fuel, insurance, hangar,................more fuel.... :)

Mine's done and payed for. But I still seem to spend money on it.

L.Adamson --- RV6A
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Exactly. And when builders start flying they don't stop buying tools....they just give up buying construction tools... and then start buying maintenance tools.:D

Let's see now....compression tester, oil filter cutter, spark plug sockets, mag timer, prop bolts torque wrench, wheel jack, plug cleaner etc etc etc.;)
 
All Hobbies Cost

Every hobby out there has a price. Some more and some less.

Think of it this way. As soon as you buy a $100,000 Mercedes, it will lose 10 grand when you drive it off the show room floor. Three years from now, what could you sell it for - Maybe $60K on a trade.

Finish your plane, as soon as it goes airbourne, it increases in value at least 10 grand. Sell it in 3 years, I suspect you'll make money on it.

For me - To visit family, I have to take 2 vacation days for travel. It will now take 2.5 hours one way. Leave on Friday afternoon and have dinner. I call that priceless because they don't hand out vacation days in large numbers. I get to use the days as they were meant to be.
 
We are Nuts!

'Now, for those who start a project like an airplane-----economy notwithstanding-----those folks are nuts." I would add - anyone that owns a plane is nuts as well and I own one (Comanche) and am picking up an RV10 kit tomorrow.

As a number of people have stated - we fly because it provdies personal satisfaction and enjoyment for us. That is why most of us fly and pay more per mile than most other means of travel - including flying commercially.
Flying your own airplane is not the most efficient or timely "Time to Spare - Fly by Air". But taking off at dawn and flying over the clouds as the sun comes up is priceless.

Take you time and do it as you can afford to and don't give up the dream. If it takes a year or 3 longer than you planned - does that really matter so long as you finish what you wanted to do?
As a side note - A few years ago my dad passed away, within days of starting his life long dream of traveling through the US unencumbered by schedule or anything else. He had let so many other "responsibilities" to other people stop him from doing what he wanted, that he never got a chance to fufill his dream.

Don't let that happen to you.

Regards,
Bill
 
Need some help?

I own my own business, and may have to get a real job next year. So I'm going to write to my congressman and tell him of my finical plight. If I go out of business there would be several people and a couple of animals that would loose the income that they are accustomed to. I'm going to ask for a couple of hundred thousand to tide me over for a couple of years. I managed my business poorly and still have an income, but in a couple of months I could be broke. I wouldn't think of selling some of my assets to keep the company afloat, not when the government will just give me the money, now that would be poor management of government funding.

Wink Wink!!!
 
Go ahead.

Hello. From the other side of Atlantic I think that we must be carefull but dont stop. The Euro- Dollar currency now is about 1 - 1.25. A few months ago it was 1 - 1.5. Shipment and taxes increase the Aircraft Spruce bill.
I purchased the complet kit two and half years ago. In the next 2009 I will need the engine but think must delay. I have got instruments unless radio and transponder. My work plan is go ahead a littel bit slowly.
Saludos.

Mario.
RV3B.
 
Laying on the hangar floor, your incomplete project is worth less than what you have into it. Completed as an airplane, it is worth 10% to 50% more than what you have in it. So finish it. It's good for the economy and good for your overall financial net worth, just so long as you can weather the cash flow.

I started my first project in the late 70's. Anyone here old enough to remember Jimmy Carter, 8% unemployment, 12% inflation rate, and mortgages at 16%????? You really haven't seen anything yet and it will likely get worse before it gets better.
 
I feel lucky

I just finished the plane before the meltdown. I originally questioned having so much money tied up in a toy. My alternative for that money would have been investing for the future. My plane just got 40 percent cheaper in my eyes since that is what I would have lost if I invested that money in the market instead of the plane. I probably have the next 10 years to think about it this way :(
 
keep building

Started my second rv after a few years without. I asked my Dad who is now 85 if he would like to help build an RV-7. This project has been an absolute delight for the two of us. We have spent hours in the shop pounding rivets and discussing the world issues as well as our thoughts on life in general. I would not trade this time for any amount of money. I hope to finish this summer so that Dad and I can enjoy flying the airplane. I would venture that a lot of us have lost more in the market than the project will cost completed.

I intend to finish. engine due next month, avionics soon to follow. Just money. But the fellowship of fellow builders and family is priceless.
 
Keep at it....

As time and money allow. Looks like our investment in our RV's has been a good one compared to the market!! Truthfully, I have never really been able to afford private aviation. I am an auto mechanic, and work straight comission. Biz down 30 percent. Tough times for sure. Being able to fly my own airplane is my true passion in life, and I will make other sacrifices in my life to be able to keep doing it. I am starting another 9 and it is clear that it will be a slower process this time. Keep at it!!!

Regards....Chris
 
Brian:

This is something I have wondered about -- if the current economic situation would affect current builds. I finished my airplane last year and I'm glad I did.

I would tell folks if they're worried about the economy -- you don't need every whiz-bang gizmo in your airplane. I'll tell you a secret that many people won't ever tell you -- most people who put tons of money in their panel never use it to it's full potential. Some do, but the overwhelming majority of folks do not. Most folks just need a GPS with a "direct to" button 98% of the time. The last 2% increases costs exponentially. You can easily shave 10-15 grand (or more) off of a project if you're careful about it.

When I flew my airplane on day 1 is was paid for, free and clear. I don't have to worry about it now. I'm not a wealthy guy, I'm firmly in the middle class but I budgeted my money very (extremely) carefully and was able to save everything. I did take a home equity loan for my engine, but that was paid off long ago.

Why am I saying this? Well, my airplane isn't really a financial liability. If I lose my job and the economy really tanks and if I can stand to sit on the equity in the airplane I'll just take the wings off and bring it home and put it in the garage from whence it came.

I for one don't envy you, Brian. It is a difficult position to be in for sure. Budget your money carefully, keep 6 months of income saved up for your rainy day account and you'll be fine.

When you fly it, your memories of all of the sacrifices will be hard to recall. Believe me. It happens.
 
Keep at it

Right after I ordered the wing kit one of life's little expenses came up, so I won't be able to order the fuselage kit anytime soon. My solution is to just work slower. I go out and bang away for a couple hours and then go do something else. I'm still building but at a pace my wallet can stand.
As someone has already pointed out a partially finished kit is almost worthless so you might as well keep on with what you have and buy more as you can.

Give the United States some credit, this downturn will end. I've been an airline pilot for 32 years. I think this is the forth or fifth, (I've lost count), end of the world, everyone is furloughed, this is the end, cycle I've seen. And somehow airplanes are still flying.

It will get better, and you will have an RV to boot.
 
Thanks for all the different viewpoints everyone!

I will say this up front.. I will never quit! I started this project as an RV6A back in the year 2000. When the emp was done, I stopped for a long time! I went to night school for two years over 100 miles round trip to finish my BS degree and had two kids during the break. Never lost sight of the goal and got started again!

Back then I had no idea where the money was going to come from and even though I still don't, I have an Emp, Wings, and Fuse with a newly overhauled used engine hanging on it, canopy is finished except for some filling required, cowling is fitted and useable, emp is installed etc. Oh and I earned an instrument rating during this time as well paying rent for a spam can.

From my other post about panel planning and others, you can see that I am all about bang for the buck, I have made it this far by doing little things like building my own Nav lights, purchasing a strobe supply that is made for emergency vehicles, buying race car harnesses instead of aviation models, buying a second hand but new carb, purchasing nice but economical interior upholstery and second hand but new seat foam, used mags and economical harnesses.....the list goes on and on...nice safe and useable stuff that does the job!

All that basically remains for me is the prop which I plan to use a FP metal Sensenich (most likely will be one of their factory second's units to shave a few bucks off the cost), the avionics, about 50% of the FWF kit (already purchased a ton of that stuff), and the 1000 misc things that you need to finish.

My panel plans are what I consider to be about the most bang for the buck you can do and still have the ability to stay IFR current (with the currently available products). It won't have a WAAS approach certified GPS but do I really need that? Nope! Do I need one of them new 696's? Nope (droooool) It will have a portable handheld that I already own and if I can find a older used and reasonably priced TSO'd approach capable GPS, then fine..if not, oh well. No audio panel either. Dual screen Dynon with their AP (unbeatable value no matter who you are) and an SL30 for the IFR currency round it out.

About the only thing one could not do with this panel is shoot a precision WAAS Approach.

29zsgfm.jpg


A few of these might change as time goes on, who knows???

Anyway that is the goal and it might be 2020 before it happens but I will never give up!
 
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Yup, we're all crazy! Economy's in the toilet. If we manage to keep body and soul together long enough to get an airworthiness certificate, there won't be any gas to put in the tanks. If we can find something to fuel it up with, Homeland Security is going to shut down the skies to keep us all safe from each other. If we somehow find a patch of blue that the national paranoia folks have missed, there'll be a thunderstorm over the field!! Guess I'll go work on the rudder this afternoon and hope for a sunny day!!
 
Must...finishh...fiberrrglasss

As my engine fund (550 shares of STP averaged down to $11.00) goes from $6k to $5k to $4k...i remind myself that fiberglass work is a good way to kill time while the market crashes, crashes more, then finally turns around. I've decided to find ways to improve the aesthetics of my plane while I save up for my engine and instruments. Fiberglass work is cheap and VERY time consuming...perfect for my current situation. Im am very glad to have paid cash for my entire kit and tools. It hasn’t dropped 40% like my 401k and engine fund has. :eek:
 
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Brian,
I know you are very excited about the RV. But what I see in your panel is way too much if you are worried about money. The two EFIS's is a start. One EFIS will do both that you want them to do, I know because I have ONE D180 in my panel. You are wanting IFR, are you sure? most people that I know of that have IFR in their panel never use it, only for recerts. Why? because to fly IFR you need to worry about icing as well and the RV can't take care of that, meaning you can't put the things on the aircraft that take care of icing. It was meantioned about the GPS being used with goto only, that's what I use mine for, I turned everything else off, all warning everything, I just use the goto. If money is an issue, you might want to scale down.
 
1. IFR does not always need Ice protection. I am interested in IFR for marginal VFR Days, and approaches to get through a layer. If icing is likely (not just known) then I will stay a ground pounder.

2. Since day one I have been cautious of the risk that I might outbuild my money. With the current situation, I am looking to keep more cash in the household, so I may not be as eager to order that wing kit. I am taking the process one step at a time. I concentrate on building what I have in progress, while I set savings goals to have the money in hand by the time I finish. Since I am on my first kit, it is hard to estimate my build rate.

Also, I am severely conscious that the closer I get to completion, the more expensive it gets (Engine, Avionics, etc)

I see my build continuing as long as employment is likely. We are a two career family in very different fields, so hopefully we are diversified there. I think we will come out of this thing long before I am complete. My company is forecasting early 2010, and my build will likely take me into 2011.
 
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