Spending More Money

Technically I'm done, and I've given you the process we went through.
But not really done. Remember in the needs matrix and the finding process you make trade-offs. Well, for me, part of the trade-off package was deciding what I really wanted in the airplane vs. what I could find, and seeing if I could buy-up after pruchase within my budget to have, in the end, what I really wanted.

Before I finalized the purchase I got solid estimates for the things I wanted to have on any 231, that I would have to buy for this specific one

  • Speedbrakes
  • Intercooler
  • IFR rated GPS
  • Turbo wastegate

Mod shop gave me estimates for all of these, then strongly recommended that I do not put the intercooler in. I always pay attention when people tell me they don't want me to spend my money, so after discussion I canceled that (and reduced the mod process by $11,000)

Resulting work, installing everything listed there plus a bit more, made the total cost of thsi airplane and the mods I wanted less (by a good bit, $20,000) that I had been planning to spend at the top of my range. So I bumped the mods up a little more, and did it.


Why is this important?

I don't believe it's as easy to spend money on upgrades after a purchase.

It's both a fiscal and a psycological barrier. You probably saved up a nice nestegg to use as a downpayment. When you pay for the airplane, you're not going to have much cash left. And mentally, you're making one huge investment, making another ($10,000 is not $150,000, but it is still big) big payment to the airplane a year later is going to be hard.

Also, being willing to put an additional 20% over purchase price into the airplane as soon as you buy it allows you more flexibility in the search/purchase process. Since you know you can spend more, you're less willing to compromise on a plane because it "has everything I want but one small problem". You can buy the plane you want without the problem, but also without a radio that you want, and add the radio later.

Let it all go at once.

Other thoughts and answers to questions



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