S

Spindrift

Well Known Member
My wife and I are considering buying a house on one of the many airparks in our area. Having read most of the posts that come up in an "airpark" search, I'm curious what those of you living on an airpark consider the added value to be compared to a comparable house elsewhere. I realize different parts of the country value things differently, but, as pilots, what is living with your plane worth?

Given the current real estate market, putting a price on a home with few comps available is tough. As previous posts have pointed out, banks don't assign any value to the runway proximity, and I've heard that some don't even give much value to a hanger beyond its 'outbuilding' status. Other than saving on hanger rent, its hard to quantify, especially given the trade-off of a 20 minute commute for a 45+ minute commute from any of airparks around here.

Any input that would aid our decision is appreciated.
 
Hey, if banks can do credit card commercials with the word "priceless" in it, then you should be able to as well.....;)

I think the only tangible worth you could show would be the difference in not paying hangar rent, then add up the commuting costs and the value of your time lost to commuting. And the price of a hangar is not insignificant - don't forget that a big hangar door can cost a lot!

Of course, I am not a Real Estate professional....
 
Airpark Living

I live at an Airpark, and I couldn't imagine trading it for the world. Aside from living with my aircraft, and around Aviation, I have never known a better group of neighbors with common interests as I do here.
 
it's a lifestyle....kind of like owning an airplane. It may not pencil out but it may.

We haven't built our get away on our runway lot yet. But hope to start one of these days. But I do spend a lot of time at 8U8 hangarhome sitting while the owner is out of town. I wish I could sell my home and move there tomorrow!

here's a view of the hangar portion. On the leftside is a wonderful 2 floor home, to the right is a workshop and also a 3car garage....what's not to like
aviation2011104.jpg
 
What's it worth?

Like most other things in aviation, you can rarely justify living on an airpark in purely financial terms. It's going to cost you money for that lifestyle - and that's what you're buying. What that lifestyle is worth is a very personal thing. For some of us, it's worth more than the cost, for others it's just not. I've lived on our airpark for almost 3 years, and having the space to protect and work on my RV-6, as well as the freedom to go flying at a moment's notice, has made it worth it. In a lot of ways, it sort of "justifies" building and owning an airplane since we get more use out of it than we probably would otherwise.

In practical terms, you can count on rolling that $200+/month that you "would" have spent on hangar rent into the cost of buying/building a hangar on your own property, not to mention the shared costs of maintaining the runway itself. That piece is about a wash.

Since much of the above is a wash, and the market is small, I would basically not attach any kind of premium to a home due to the location being on an airpark. Compare it to any other home with similar amenities and space, and that's about what its worth and what you should pay.

(disclosure: I'm not a real estate professional, but I am trying to sell an airpark property myself due to a military move)
 
Exactly!!!!

JordanGrant said:
Like most other things in aviation, you can rarely justify living on an airpark in purely financial terms. It's going to cost you money for that lifestyle - and that's what you're buying. What that lifestyle is worth is a very personal thing. For some of us, it's worth more than the cost, for others it's just not. I've lived on our airpark for almost 3 years, and having the space to protect and work on my RV-6, as well as the freedom to go flying at a moment's notice, has made it worth it. In a lot of ways, it sort of "justifies" building and owning an airplane since we get more use out of it than we probably would otherwise.
Click to expand...

Jordan has hit the nail on the head. Float208 as well. I'm his neighbor. One of the reasons to live in an airpark is the people. There is a commonality of interest regardless of the socio/economic differences. (Trust me, in our airpark there is a HUGE economic spread)

In most cases if you need 3 people to help you with something, you'll get 6. You need a specialized tool, someone has it.

For the spouses, women in most cases whether they fly or not, (please don't Title 9 me, it is simply a fact,) they have as much going on as the "boys."

When I visited the Homecoming at Independence Oregon, I loved that place. I could spend Summers there!!!!! I've been to lots of airparks. Their "sense of Community," is the best I've ever seen. Plus LOTS of Experimental activity.

I've regretted a few decisions in aviation. Buying an airpark home definitely is NOT one of them!!!!
 
Bill, I can tell you from experience that there is no better life for a pilot. The best part is living with like minded individuals and being around aviation 24X7. My wife and I live on 3R9 (Lakeway Airpark) just west of Austin Texas and it is a true jewel. We are inside a beautiful neighborhood surrounded by nice homes and golf courses and right next to Lake Travis (just off end of 34) . Doug has been her to visit so he can add comments if he wishes. On valuation the appraisial used the same as a golf course lot to justify our value. This seemed reasonable and worked for us. The real fun is simply opening the hangar after work to fly for 30 min and to use the golf cart to cruise the open hangars and steal each others beer. A better group of people to live with would be hard to find. Go for it!
Best , Phil
 
Like Paul said.........

its priceless!!!!!:D When you compare the fact that it took over 2 hours just to fly 1, going to the airport, preflight, fly, gas, logs, etc.... now to fly 1 hour takes,,,,,,,, 1hour! Hanger is 30' from house. You need to justifly flying time vs. $$$. If you fly alot, and travel time is long, then it is a good deal. If you are one of those who flys once a year, not a good deal. And the people, the BEST! you all have something in common! My wife is from England, she had never heard of an airpark:eek:, until we visited one on a Sunday, now we live in one, and she can't imagine living anywhere else! Is it right for you? visit a few and talk to the people, they love to talk about thier home and planes! Hope this helps
 
Taxes in airpark

Our county tax man says our taxes should be more because we live in Pecan Plantation Air Park. Check your county taxes and see if that is the case in yor area. Like others have said it is the people that make the difference.
 
Airpark

This is my 3rd month living at an airpark and I can tell you I'll do anything required to stay here.

My plane is 30 ft beyond my pool in a 2000sg ft hangar. I can fly anytime I want. The people are great!

If you are busy with a project in the hangar don't leave the hangar door open otherwise you'll have people stopping by in golf carts with beer and you'll never get done... nuff said.
 
Having recently shopped and moved into an airpark, I found only one item that made airpark living a premium over similar property in the vicinity.... The proximity to a metropolis where is opportunity to gain employment and get to metro items like shopping and entertainment is doable. Those air parks that are within say 40 driving minutes of that, are at a premium since there is no chance to ever get one that close again due to urban sprawl and zoning.

It is never priceless.
My 2 cents on the question you asked.
 
The perfect crime...

After 18 years in my home on an airpark, I wouldn't trade it for anything. Of course you have to compromise on some things though: proximity to large city; possible longer commute; hanger maintenance; airplane noise :rolleyes:

Living with your plane offers many advantages that you simply can not enjoy when renting a hanger. It's possible to beat the airlines in time and cost if flying within about 700 miles of home if it's VFR. Just walk out the door, hop in the RV, and go direct to my destination rather than the hub they take me to. No driving to the airport, getting frisked, and then waiting an hour, etc...
Hanger also doubles as a shop, storage unit, dance hall, apartment... what ever you want it to be.

And you will definitely fly more. After all, that's why you own one...;)
 
Spindrift said:
... I realize different parts of the country value things differently, but, as pilots, what is living with your plane worth...
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This is like asking "how high is up?" I'd say it's worth almost anything, up to and including any body parts not required to pass a medical. We can't go back to a "normal" neighborhood again. ...No way!
 
Thanks

Thanks to all for the responses, both public and private. Keep them coming!

A bit more info:
- the options we are considering are already existing homes with hangers, clear CCR's and shared ownership of the runway.
- virtually all the airparks around Portland are 20-25 miles from my office near downtown, so the drive time would be pretty equal, but much longer than my current commute. However, I think sitting in the car in traffic deciding whether to fly around Mt. Hood or Mt. Saint Helens for sunset will help, at least in summer! Rainy season (Oct-Jun) sucks here regardless.

It is clear that there is clearly intrinsic value to any pilot, the challenge is determining what the financial value is, partly to ensure my wife is comfortable with the deal. From what I'm hearing from banks and real estate agents, the runway access is not a factor in determining value. Any examples you may have of how you determined what to pay versus a comparable house not on an airpark would be great -- via PM if you don't want everyone to see.

Thanks,
 
Furthermore and in conclusion...

All of the previous comments are valid, it rocks! In FL if you are in the county taxes are less, especially if it is zoned as farmland.

Even better though for me would be more acreage and my own strip, no neighbors nearby :)

Worth considering.

Smokey
 
I've lived on an Airpark for 25 years and have built 3 homes in the same airpark.
Wouldn't trade it for the world and I was originally in a similar scenario when I first moved here. I lived across the street from work but wound up building on this airpark 45 minutes away. I never regretted doing it. There was a GA airport across the street from work and I was able to commute with the plane whenever I wanted.
Values--if it's a large enough airpark it will normally generate some higher comps than just local, non airpark properties.
Taxes--counties generally tax airparks at higher rates recognizing higher value since it benefits them. This can be discussed with appraiser who normally has this info anyway. Another thing to discuss is waterfront property. An appraiser simply can't use comps from landlocked homes across the street. Pointing this disparity out to them sometimes helps as waterfront is generally a recognized exception.
 
one disclaimer: Homeowners associations can sometimes make a good thing feel bad. Check out any potential HOA. Go to a meeting to see how smooth things run. Ask current members how well the HOA functions. Are they dues being used appropriately? Money set-a-side for unexpected maintenance issues? or future big projects like repaving. CCR's enforced?
 
Air Park Party

Come Join the Party!
Announcing
Kestrel Air Park?s
3rdAnnual Fly-In & Cookout
Saturday, October 8th
(Rain Date is October 15th)
10 am ?2 pm
(Lunch from 11am until its gone!)
Bring your own chocks, please
Kestrel Air Park (1T7)
Rwys12/30 (Rttraffic 30)
3000? X 40? Paved
CTAF 122.975
 
RV7Guy said:
For the spouses, women in most cases whether they fly or not, (please don't Title 9 me, it is simply a fact,) they have as much going on as the "boys."
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Unfortunate truth here also, of a hundred houses, I can only think of 3 women who are pilots, but that will become 4 one of these days when Laura gets her ticket.


RV7Guy said:
When I visited the Homecoming at Independence Oregon, I loved that place. I could spend Summers there!!!!! I've been to lots of airparks. Their "sense of Community," is the best I've ever seen. Plus LOTS of Experimental activity.

I've regretted a few decisions in aviation. Buying an airpark home definitely is NOT one of them!!!!
Click to expand...

Amen to that Darwin, Independence is truly wonderful, I only wish our airpark was filled with the same kind of folks.

hydroguy2 said:
one disclaimer: Homeowners associations can sometimes make a good thing feel bad. Check out any potential HOA. Go to a meeting to see how smooth things run. Ask current members how well the HOA functions. Are they dues being used appropriately? Money set-a-side for unexpected maintenance issues? or future big projects like repaving. CCR's enforced?
Click to expand...

Brian is 110% correct on this one.

I ended up getting on the Board of Directors, just to ensure that things would be run to the best of my ability to control.

All in all, airpark living is great:D
 
Very interesting thread. I am reading my palm and the lines say no airpark property in this life for me but it says nothing about renting :). Is it possible? Does anybody have airpark lanlord/tenant experience? It's not crazy idea, is it?
 
hydroguy2 said:
one disclaimer: Homeowners associations can sometimes make a good thing feel bad. Check out any potential HOA. Go to a meeting to see how smooth things run. Ask current members how well the HOA functions. Are they dues being used appropriately? Money set-a-side for unexpected maintenance issues? or future big projects like repaving. CCR's enforced?
Click to expand...

Every Air park I have ever been to has some sort of HOA drama going on. It would be wise to thoroughly understand the local airport politics. Where I live the out of control HOA, decided to show up on my property unannounced and proceeded to destroy my property until my tenant called me, I kicked them off but not before a prominent board member threaten to call the police on me, for parking my car on my property, in the way of the board hired contractor. Unfortunately, the HOA board members tends to attract individuals who want to use their position to line their pocket, with HOA assessments. Another issue is proxy abuse a retired former board member wanders the airport for months before the election and collects enough proxies to pick the board. The board of directors only cares about keeping that one former board member happy and has no interest in the concerns of ordinary property owners.

The HOA inevitably hires a management company. Most management companies make the majority of their money by over charging late fees or over enforcing CCR's. About everyone at the airport hates the management company and has a horror story to tell about their arrogance and ineptitude. I bought a piece of property in September despite paying the mismanagement company over 300 in transfer fees, 40+ phone calls and dozens of emails they were unable to get the monthly billing straight until April. They tried to blame me for the mix up and collect their late fees which were as much as the monthly assessments, despite proof from my bank that the bill payments were all on time.

I have learned my lesson, I will never buy another piece of property where there is a HOA.
 
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yak53 said:
Every Air park I have ever been to has some sort of HOA drama going on. It would be wise to thoroughly understand the local airport politics. Where I live the out of control HOA, decided to show up on my property unannounced and proceeded to destroy my property until my tenant called me, I kicked them off but not before a prominent board member threaten to call the police on me, for parking my car on my property, in the way of the board hired contractor. Unfortunately, the HOA board members tends to attract individuals who want to use their position to line their pocket, with HOA assessments. Another issue is proxy abuse a retired former board member wanders the airport for months before the election and collects enough proxies to pick the board. The board of directors only cares about keeping that one former board member happy and has no interest in the concerns of ordinary property owners.

The HOA inevitably hires a management company. Most management companies make the majority of their money by over charging late fees or over enforcing CCR's. About everyone at the airport hates the management company and has a horror story to tell about their arrogance and ineptitude. I bought a piece of property in September despite paying the mismanagement company over 300 in transfer fees, 40+ phone calls and dozens of emails they were unable to get the monthly billing straight until April. They tried to blame me for the mix up and collect their late fees which were as much as the monthly assessments, despite proof from my bank that the bill payments were all on time.

I have learned my lesson, I will never buy another piece of property where the is a HOA.
Click to expand...

hydroguy2 said:
one disclaimer: Homeowners associations can sometimes make a good thing feel bad. Check out any potential HOA. Go to a meeting to see how smooth things run. Ask current members how well the HOA functions. Are they dues being used appropriately? Money set-a-side for unexpected maintenance issues? or future big projects like repaving. CCR's enforced?
Click to expand...

Wow that's some seriously good advice! It makes my skin crawl to think I may have spent tons of money on my dream home on an airport only to find that there is mini-mafia running it behind the scenes. Thanks for sharing your experience.
 
Yep

We spent months going back and forth to an airpark near Savannah, Ga. and decided against it, after all.

Many individuals on airparks are wealthy, type A personalities and this particular airpark's HOA showed the amount of control some members want to exert! Trivial issues like, "you're 2' over your property line!" and other covenants just left a sour taste.

Probably, in all fairness, was the remote nature of this airpark, beautiful scenery and marsh views but not near any shopping/restaurants either.

Best,
 
I believe it is true that many airparks have issues with the HOA. It is also true that many residential HOA's are no different. I recently bought property in an airpark that I had previously rented space in for years. This airpark was no different, significant problems with the HOA. Today it is running very well with very few issues. The difference is that those who had previously been unhappy got involved in their community and started working together. Living in an airpark has been my dream for many years and I will soon move in to that airpark property I purchased a few months back. Airpark property is no different than residential property, you need to get involved and make sure your property values are protected by good management, not a few people with their own agenda.

My 2 cents.



yak53 said:
Every Air park I have ever been to has some sort of HOA drama going on. It would be wise to thoroughly understand the local airport politics. Where I live the out of control HOA, decided to show up on my property unannounced and proceeded to destroy my property until my tenant called me, I kicked them off but not before a prominent board member threaten to call the police on me, for parking my car on my property, in the way of the board hired contractor. Unfortunately, the HOA board members tends to attract individuals who want to use their position to line their pocket, with HOA assessments. Another issue is proxy abuse a retired former board member wanders the airport for months before the election and collects enough proxies to pick the board. The board of directors only cares about keeping that one former board member happy and has no interest in the concerns of ordinary property owners.

The HOA inevitably hires a management company. Most management companies make the majority of their money by over charging late fees or over enforcing CCR's. About everyone at the airport hates the management company and has a horror story to tell about their arrogance and ineptitude. I bought a piece of property in September despite paying the mismanagement company over 300 in transfer fees, 40+ phone calls and dozens of emails they were unable to get the monthly billing straight until April. They tried to blame me for the mix up and collect their late fees which were as much as the monthly assessments, despite proof from my bank that the bill payments were all on time.

I have learned my lesson, I will never buy another piece of property where the is a HOA.
Click to expand...
 
airpark property

Very interesting thread. I am reading my palm and the lines say no airpark property in this life for me but it says nothing about renting . Is it possible? Does anybody have airpark lanlord/tenant experience? It's not crazy idea, is it?
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__________________
No, its not. We leased our property for the first year, to see if we really would like it. Now the buying process is started, and we can't wait to call it "ours"!:D:D:D
 
Wasn't going to bring up the HOA issue, but it indeed is a MAJOR factor if we ever move. What a frigging mess!

I'm with Smokey... In my opnion the only thing better than living ON an airport is OWNING the airport - alone!
 
Airpark Living

As my wife and I were nearing retirement we started to consider airpark living in Florida. (Alright, it was mostly me) We checked out a number of airparks in southern Florida. It was a learning experience. Although there were a number of homes my wife fell in love with, we realized the community was the number one priority.

The airpark we settled on is not pretentious. Hanger homes range from the low 300s to the 500s. Owners include retired blue collar workers, teachers, construction contractors, and some doctors. Every day at 4PM one of the owners opens his hanger for happy hour that is open to all. The main topic of discussion is of course flying. Mornings we meet at another owner?s house for coffee. Our group will typically fly out on Wednesdays to Sebring, and on Saturdays to different locations for breakfasts.

Being a close knit community is like having an extended family. We all bring different backgrounds and skills to our communities which we use to help each other. Most are flying experimentals with RVs being the aircraft of choice.

I would recommend you find an airpark community that matches your personality. Check out the people that will become your neighbors. Are these the type of people you would be comfortable living with? Our choice of airpark fits us even if we were to stop flying.
 
mark960 said:
As my wife and I were nearing retirement we started to consider airpark living in Florida. (Alright, it was mostly me) We checked out a number of airparks in southern Florida. It was a learning experience. Although there were a number of homes my wife fell in love with, we realized the community was the number one priority.

The airpark we settled on is not pretentious. Hanger homes range from the low 300s to the 500s. Owners include retired blue collar workers, teachers, construction contractors, and some doctors. Every day at 4PM one of the owners opens his hanger for happy hour that is open to all. The main topic of discussion is of course flying. Mornings we meet at another owner?s house for coffee. Our group will typically fly out on Wednesdays to Sebring, and on Saturdays to different locations for breakfasts.

Being a close knit community is like having an extended family. We all bring different backgrounds and skills to our communities which we use to help each other. Most are flying experimentals with RVs being the aircraft of choice.

I would recommend you find an airpark community that matches your personality. Check out the people that will become your neighbors. Are these the type of people you would be comfortable living with? Our choice of airpark fits us even if we were to stop flying.
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Well said sir, very well said.
 
What is it worth? Oh abouty 100,000 or more. Here is my 2cents.

My real name is Todd and I live on an airpark. There got that out of the way. To have a hangar is a huge plus. When family and friends visit we can just walk out and have a look at the plane, fly or watch the traffic on a summer?s night. Hangars are good for parties and neighborhood movie nights. You can go out with the score cards and grade all the landings. We have systems to do this even when you do not choose to participate. A lot of it is in good fun.

On an airpark there is way too much good advice on anything to do with flying, building, or how to run your life. I do not have to fly myself. In fact if there is drinking or we need a bigger plane for more people I just walk next door and ask the neighbor to take some people up for me. We all love to fly.

Last night I just listened to another pilot tell some stories about early Alaska bush flying. This was better than any TV!

About the HOA home owner association. I have no problems, except that you may keep getting asked to serve as a member. WE DO have issues with the owner, but with 120 homes there are bound to be problems of some sort. Get a handle on existing issues first before you buy!!! Not all airparks are equal. I learned that early. This is a marriage of sorts. You had better be sober and take more than one night to make a decision.

Oh... and make sure your wife/partner agree on what "FINE" means when you ask if you can sell everything to move to an airpark. I have observed that geting that wrong can cost quite a bit.
 
I am not too sure what you are asking, but here is some info.

I live at Cameron Park KO61

Mark, the guy I referenced my comment towards, lives in Florida, but I do not know the name of the airpark.

Hope that answered your question.
 
Mike S said:
I am not too sure what you are asking, but here is some info.

I live at Cameron Park KO61

Mark, the guy I referenced my comment towards, lives in Florida, but I do not know the name of the airpark.

Hope that answered your question.
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The airpark that I live in is Buckingham in Fort Myers, FL (FL59).
 
Whiteplains Plantation SC99

pierre smith said:
We spent months going back and forth to an airpark near Savannah, Ga. and decided against it, after all.

Many individuals on airparks are wealthy, type A personalities and this particular airpark's HOA showed the amount of control some members want to exert! Trivial issues like, "you're 2' over your property line!" and other covenants just left a sour taste.

Probably, in all fairness, was the remote nature of this airpark, beautiful scenery and marsh views but not near any shopping/restaurants either.

Best,
Click to expand...

Pierre,

You and your bride are more than welcome to come visit Whiteplains, I think you will be pleasantly surprised. It met all of my wife's criteria.

1. Close to the beach, but not too close for hurricanes
2. Close to shopping
3. Close to a Catholic church
4. Close to shopping
5. Good medical care in the area
6. Close to shopping
7. Closer to the grand kids than Atlanta
8. Close to shopping
9. A real neighborhood and not a wanna be airpark
10. Close to shopping

By now your getting my wife's requirements.

While we do have an HOA and I am on the board, it's not a big deal here.

So come and visit and take the quarter tour.

http://whiteplainscommunity.blogspot.com/
 
Joe Blank said:
After 18 years in my home on an airpark,

Living with your plane offers many advantages that you simply can not enjoy when renting a hanger. It's possible to beat the airlines in time and cost if flying within about 700 miles of home if it's VFR. Just walk out the door, hop in the RV, and go direct to my destination rather than the hub they take me to. No driving to the airport, getting frisked, and then waiting an hour, etc...
Hanger also doubles as a shop, storage unit, dance hall, apartment... what ever you want it to be.

And you will definitely fly more. After all, that's why you own one...;)
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:cool: well said Joe.

I'm new to commuting in my RV8A to work and would like to move onto an Airpark if a suitable location was affordable to our budget. Still researching.
 
I know 282S sent a PM and I'd guess it had some personal experience that did not fit with the "rave reviews" that most of the posts have. I hope 282S will consider posting at least some if it will help balance the commentary.

As has been said above, one big factor is the "community". I use to hang out at an airfield in New Hampshire which was not an airpark but did have a number of abutting properties with "thru the fence" (actually no fence) agreements. It was a vibrant and fun place to be - morning noon and night.

A number of things changed around the airfield and the "community spirit" evaporated. I think things are getting better but it was not-so-much-fun for a number of years. The same can happen at an airpark.

There are many factors to consider when buying real estate. A lot of people look at taxes, medical facilities, the school system, neighborhoods, etc. an Airpark should be no different. If all the factors weigh in your favor, go for it.

As a number of people here know, I have a private airstrip. It's nice but there is no real community. I'd love to have neighbors who also were pilots. Airparks are non-existent where I wanted to live. So that was my trade-off. I got the location without the community.

Balance what you want and then "just do it".
 
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I just went through all of this

As I will be retiring this year and our present hanger rents are going to take a BIG jump in costs ($636 per mo) I suggested to my wife that if we lived on an airpark, that amount would be a big part of a mortgage and might be a practical alternative. We visited 2 airparks and found that:
1. Apparently the homeowners don't know that property values have taken a dump in the past few years.
2. We would have to travel much further for ammenties such as shopping, hospitals, etc.
We saw several homes that we really liked but decided that the cost of moving, leaving all of our present friends and the inconvience wouldn't be worth the trade. I personally would do it in a minute if the home costs were brought into perspective with the rest of the market but for now, it will be cheaper to stay put.
As a side note I was told by a pilot/real estate agent it makes more sense to buy a home NEAR an airport than one ON an airport. Mainly because it will be easier to sell when it becomes time for change.
 
KVNC

woodmanrog said:
As I will be retiring this year and our present hanger rents are going to take a BIG jump in costs ($636 per mo) I suggested to my wife that if we lived on an airpark, that amount would be a big part of a mortgage and might be a practical alternative. We visited 2 airparks and found that:
1. Apparently the homeowners don't know that property values have taken a dump in the past few years.
2. We would have to travel much further for ammenties such as shopping, hospitals, etc.
We saw several homes that we really liked but decided that the cost of moving, leaving all of our present friends and the inconvience wouldn't be worth the trade. I personally would do it in a minute if the home costs were brought into perspective with the rest of the market but for now, it will be cheaper to stay put.
As a side note I was told by a pilot/real estate agent it makes more sense to buy a home NEAR an airport than one ON an airport. Mainly because it will be easier to sell when it becomes time for change.
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Hi Roger, not to add to your confusion but hangar rents at Venice KVNC are less than $300 and you can find affordable housing nearby (like your agent said) and lots of friends and RV's here too. They are building several new hangars right now :) Gary (Sebring breakfast group)
 
My 2 cents...

The desire to live on an airpark has always been a push-pull thing with me. I am not a realtor or attorney however I recommend that you closely examine the airpark HOA financials for any pending issues, particularly issues involving common use property. Also have the HOA disclose if there are any pending legal issues against the association, homeowner delinquencies or foreclosures, etc. Another very important consideration is the status of the Association’s actual Reserve Account balance and how that balance compares to the independently commissioned Reserve Study that the association uses as a long term budgeting tool for future repairs and expenses. Does the association pay its bills on time or is the association incurring late fees because the accounts payable are not being managed properly. Another element to look at is how stable the monthly association fees have been during the past 10 years. If there has been significant increases in fees find out why. Has there ever been any special assessments to the property owners? Be careful that you are not about to buy into an upcoming special assessment. Does the property have any known flood or drainage issues. Also review the property / casualty / flood / hail & wind / and liability insurance that the association carries on its common properties. Do your homework then enjoy…JMHO!

Regards,
 
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woodmanrog said:
As I will be retiring this year and our present hanger rents are going to take a BIG jump in costs ($636 per mo) I suggested to my wife that if we lived on an airpark, that amount would be a big part of a mortgage and might be a practical alternative. We visited 2 airparks and found that:
1. Apparently the homeowners don't know that property values have taken a dump in the past few years.
2. We would have to travel much further for ammenties such as shopping, hospitals, etc.
We saw several homes that we really liked but decided that the cost of moving, leaving all of our present friends and the inconvience wouldn't be worth the trade. I personally would do it in a minute if the home costs were brought into perspective with the rest of the market but for now, it will be cheaper to stay put.
As a side note I was told by a pilot/real estate agent it makes more sense to buy a home NEAR an airport than one ON an airport. Mainly because it will be easier to sell when it becomes time for change.
Click to expand...


I have looked a bit in the last few months and noted pricing. For the most part it appears to me the air parks have taken a hit however not as bad as what most homes have dropped. When you mentioned the owners were overpricing the homes did you have any comps? How long had the houses been on the market? While Airparks, golf and waterfront lots have all dropped they have done better then average. I took a look at homes on the market in Spruce Creek and there were some real values available there. For me I would get the additional savings of no state income tax. I will probably head down to FL next month to look around. Any ideas in the JAX area on airparks?

George
 
If you attend Sun N Fun, visit Aviation Homes and Land Booth, they have a lot of info on air parks throughout FL as well as a free publication. They also do a seminar at the show. Having had 3 homes on air parks for the last 25 years I've found that most have good financials and reasonable hoa fees/rules. Housing prices tend to be more stable and if homes are properly priced they tend to sell quickly even in bad times. The big issue for me is in how well the people living there all get along. By our very nature, some pilots can be huge thickheads and cause all kinds of problems. Ask about lawsuits, etc and how well everyone gets along, do they do things together, etc. most are stable communities and thoroughly enjoyed by all residents.
 
Nothing like it!!!!

There was some very good advice given about checking with the status of the HOA, Fees, etc.... The diversity of air parks is amazing. Having searched many I learned there is no perfect place. You are either too far away from infrastructure of shopping and restaurants, or the weather is to extreme. So, I recommend a compromise between all of the issues important to you.

My airpark is very unusual in that it is very urban. We are only minutes from two major freeways, a World Class shopping mall and every conceivable restaurant. (I'm 5 minutes garage to parking space at the theaters at the Mall).

It may not be for everyone, but the sense of community in an air park is amazing. You need 3 people to help with something, you'll get 6. It is great.

I've attached a picture of you newly resurfaced runway at Stellar air park in Chandler, AZ (P19). Looking North, the West side is residential. There are two neighborhoods separated by a ramp, FBO and fuel. The neighborhood in the foreground is a gated community that started about 12 years ago. It has it's own HOA. There have been no major problems.

My house is on the first street and next to the house with the open garage door in the new section. There is house across the street for sale at around $700K. The house is 2100 sq ft with 1800 sq ft attached hangar. The prices go up from there to over 5 million. The older North section has several homes for sale now from $600K to $1.5 million.

The East side of the air park is all commercial and is the home of Rotorway. The area North of the air park is mixed commercial with residential on each side of that. South of the airpark and South of the East/West freeway is Indian Reservation and is all open and undeveloped. Lots of space if things go bad.

This is a beautiful place with great people. I bought in 2001 and the house was completed in 2002. I could not afford it now!!! Right place at the right time. For me, it was the best financial decision I've ever made. Air parks hold their value far better than normal housing. If you can do it, go for it!!!

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Stellar is nice, but they have some unique financial circumstances...

In 2009 the airport once again went through a major renovation. Two of it’s members Ron Pratte and Jeff Mark offered to completely reconstruct the entire airport runway, taxiways, infields and ramps, at no cost to the membership.

http://www.chandleraz.gov/content/Stellar_Airpark_web.pdf

Our runway rebuild cost $250,000 ten years ago - If you can find an airpark financed like Stellar - go for it...:)
 
$250,000 !!!!

$250,000
I think this is a lot of money!!!
In Texas there is a lot of land for sale that would make a grass strip in your back yard ,, 20 + acers for less than that. Buy a bulldozer and make it happen for you...Leval the land and plant grass...
 
Jaypratt said:
$250,000
I think this is a lot of money!!!
In Texas there is a lot of land for sale that would make a grass strip in your back yard ,, 20 + acers for less than that. Buy a bulldozer and make it happen for you...Leval the land and plant grass...
Click to expand...

Grass doesn't grow well in Arizona...:)

Asphalt is at least $2 per sq. ft. if you want a good base under it.

This months price for a 4000 ft x 50 ft asphalt runway is at least $400,000 - and with oil prices going up, asphalt is following....:(

This shows some of an airparks money issues if it's a small sized community...
 
More Photos of Air Park homes

I love the idea of the air park estates in the USA and dream of owning a "holiday" home in one of these estates one day. I would appreciate if the group woul post more photos of thier homes, hangars, community's for me to look at aql the vdifferent airparks.


Thanks guys


Paul
 
I wouldn't trade it for the world. I have lived at Parkside Airpark, about 30 minutes from downtown Portland, for 11 years. I could not imagine living anywhere else. It is unique in its proximity to a major metro area, yet it is walking distance to the largest county park in Washington State and a wild river with a robust Steelhead winter run. You can be hiking/hunting in true wilderness in less than an hour (Mt. St. Helens), or have a night on the town in the big city in half that time.
There are lots of positives. Having immediate access to my aircraft means I fly more, simple as that. Your neighbors share interests, experienced airplane people some AI/AP's to help out, every tool or machine you could ever ask for, and helping hands. Some of my best friends live there.
This is one of the nicest airparks you will ever see. It is a beautiful park like setting with very nice properties and good HOA's to protect everyones interests. We have our own community water/well system, no chemicals, and it tastes better than any bottled or spring water you have ever tasted. Parallel paved and grass runway, community owned 4 acre park with shelter and tables that gets used often for get togethers. Simply put, nice!

With that said, there are five homes for sale out of 27 on the airpark currently. They are not selling. You can buy an identical home for 30-50% less on the same amount of property in the same area off the airpark. They are pricey properties and hard to sell.

Still, it did not stop me from investing heavily in a remodel to my home. I had to make the decision that I would live here for another 20 years so I could feel like I spent my money wisely. I doubt it will ever return the investment for me, but I don't care. This is my home and where I am going to plant myself for the foreseable future.
Airpark properties are not good investments if you discount what it means to you to live there. They are priceless for those of us that have made this lifestyle choice.
 
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