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Now is the Time to Buy Your Own Plane

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If you never thought you could own your own plane, it might be time to revisit that idea. Owning a plane can give you independence and even added income. All you need is a plan.

How to Pay For It
Other than a house, a plane is probably the biggest investment you will ever make. It might feel like it's taking forever to save for one, especially if you've had a few surprise expenses along the way.
You might want to switch from plain saving to something called a velocity banking strategy. The "velocity" in the strategy's name means that you could own your plane more quickly.
Take some time to see what this strategy is all about. If it makes sense to you, it might be time to schedule an appointment with a financial consultant and start turning your dream into a reality.

How to Pay For Housing It
Assuming you don't have space at home to house your plane, you will need to rent space at a local airfield. This could mean spending up to $1000 a month if you live in an area where the weather requires small aircraft to be kept in hangars.
You could arrange a leasing deal with the airfield. This means that they would use your plane to give flying lessons to potential pilots. If that plan for your new plane doesn't appeal to you, there are ways to earn the rent money.
Aerial photography is a great way to make extra cash. Of course, it would be very tricky to try and take the photographs yourself so you might need to fly with an assistant or another pilot. Many companies and government agencies hire aerial photographers.
Another idea if you live near the beach or a popular park is to sign on with an aerial message company. It could be fun to fly over a crowd and communicate with them to earn some extra cash.
A strange new idea is to temporarily turn your plane into a hotel. People love staying in Airbnbs and they increasingly want an unusual space to sleep in. Many plane and helicopter owners are turning their machines into accommodations and making a big profit.
Also, if you really had to in the future, you would not lose any money by selling your plane. Unlike cars, planes increase in value as they age.

How to Save Money
If you frequently travel for business or pleasure, your own plane will save you from the expense and misery of commercial flights. It may have been fun and luxurious to fly back in the 1950s, but it's certainly not fun now.
A full-blown vacation might not even be needed that often when you have your own plane. Getting away is much easier when you can just get into the pilot's seat and take off. Looking down at some beautiful sites before you return home can be just as fulfilling as visiting another city for a week.

How to Make a Difference
Although you would need a commercial pilot's license to fly people from place to place, that same stipulation does not apply to animals.
Since the dawn of the internet, pet seekers most often search for the pet of their dreams online instead of just visiting their local shelter.
When someone's dream pet is languishing in a shelter in Texas and they live in Massachusetts, there are agencies that can help get that shelter dog to them. Time may be an element if that shelter is one that euthanizes.
An organization called Pilots N Paws is a great way for a plane-owning pilot to do a lot of good. Pilots who volunteer can see transport requests from anywhere in the country and just sign up for the ones they're really interested in doing.

Fulfilling your dream of plane ownership may be easier than you think. There might also be more reasons to own a plan than you ever considered before.

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