Greetings, all
I've been looking at the whole build/buy dilemma on the RV-4.
Buy looks like it could (initially) be quite a bit less expensive; with the caveat that you're only buying a partial engine reserve.
The Build option looks like a lot of fun - but it's also 1500-2000 hours of time, while the buy option is pretty much "instant gratification". I don't mind the work, but the idea of being grounded for 2-10 years of build time doesn't appeal. Buying has the drawback that I get the plane as someone else decided to build her.
What are people's opinions on a third option: renovation.
The idea is to buy a serviceable airframe, get a full AP mechanic inspection / sign-off on the "bones" of the aircraft, then do a full engine / avionics / interior / paint job replacement.
From what I can tell, this isn't any less expensive.
From what I can tell from Barnstormers, an RV-4 in serviceable condition, with ~50% engine reserve comes in around $USD45K / $Cdn55K. Some of this could be "clawed back" by selling/trading-in the existing engine ($Cdn20K? more? less?).
Are there other options here? For what I'm thinking, I don't need the aircraft to be flyable - just that her airframe is intact (or repairable?).
Throw in a new Lycoming OI-360 (~$Cdn45K installed), $Cdn15K in avionics/instrumentation (say a Dynon 7" panel, with autopilot servos, airspeed and altitude steam guages + a TruTrak Gemini PFD as backup, manual backup engine/oil gauges, Dynon 2.25" dial sized transponder and VHF radio, tac, hobbs, chronometer). Throw in $Cdn 5K to have her professionally repainted, maybe $Cdn10K to have the interior/panel redone.
Prices are pessimistically figured at the "I hire someone else to do it" level. I realize that doing as much of it as I can myself is a trade off of time for money.
By my "spitball" calculations, this comes out to around $Cdn100K "all in", for a fully tuned RV-4, with new engine/interior/panel, "turnkey". From what I can tell, that's about the same as the build cost would be for a comparable configuration.
Renovation isn't saving any money, but it might save time - say 6-8 months of renovation (by professionals - more time for me), vs. 2-10 years of build time, while still ending up with as custom an aircraft as I would be able to develop as a kit build.
Plus, it potentially saves one of these beautiful planes from the scrap yard
What do you think? Does my logic hold - or am I missing some major consideration here?
Thanks,
I've been looking at the whole build/buy dilemma on the RV-4.
Buy looks like it could (initially) be quite a bit less expensive; with the caveat that you're only buying a partial engine reserve.
The Build option looks like a lot of fun - but it's also 1500-2000 hours of time, while the buy option is pretty much "instant gratification". I don't mind the work, but the idea of being grounded for 2-10 years of build time doesn't appeal. Buying has the drawback that I get the plane as someone else decided to build her.
What are people's opinions on a third option: renovation.
The idea is to buy a serviceable airframe, get a full AP mechanic inspection / sign-off on the "bones" of the aircraft, then do a full engine / avionics / interior / paint job replacement.
From what I can tell, this isn't any less expensive.
From what I can tell from Barnstormers, an RV-4 in serviceable condition, with ~50% engine reserve comes in around $USD45K / $Cdn55K. Some of this could be "clawed back" by selling/trading-in the existing engine ($Cdn20K? more? less?).
Are there other options here? For what I'm thinking, I don't need the aircraft to be flyable - just that her airframe is intact (or repairable?).
Throw in a new Lycoming OI-360 (~$Cdn45K installed), $Cdn15K in avionics/instrumentation (say a Dynon 7" panel, with autopilot servos, airspeed and altitude steam guages + a TruTrak Gemini PFD as backup, manual backup engine/oil gauges, Dynon 2.25" dial sized transponder and VHF radio, tac, hobbs, chronometer). Throw in $Cdn 5K to have her professionally repainted, maybe $Cdn10K to have the interior/panel redone.
Prices are pessimistically figured at the "I hire someone else to do it" level. I realize that doing as much of it as I can myself is a trade off of time for money.
By my "spitball" calculations, this comes out to around $Cdn100K "all in", for a fully tuned RV-4, with new engine/interior/panel, "turnkey". From what I can tell, that's about the same as the build cost would be for a comparable configuration.
Renovation isn't saving any money, but it might save time - say 6-8 months of renovation (by professionals - more time for me), vs. 2-10 years of build time, while still ending up with as custom an aircraft as I would be able to develop as a kit build.
Plus, it potentially saves one of these beautiful planes from the scrap yard
What do you think? Does my logic hold - or am I missing some major consideration here?
Thanks,
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