So the Mooney was actually cheaper than the A36. I'm not going to add depreciation to my cost. And who know's how much maint. will be. And since I don't keep a engine reserve for my cars, I'm pretty much going to ignore that also. The engine has low time and hopefully it will go to TBO, if not the kids will end up with a little less. This is all new to me, I started taking lessons in December, so we will see. If things get away from me I'll either sell, or look into getting a partner.
A deb is a nice airplane and seems affordable...but, here are my thoughts.
1) The deb's went for $65-80K in 2002. Yours at 55K is middle of the market. Let's say it went for 72k 10 years ago, that's about 2K depreciation per year. Money you won't get back. And, if you are going to finance it will cost you lots more in interest. If you pay cash, it will be less in your coffers growing.
2) Maintenance, if you are going to keep the airplane up (remember, your life and DW/DH life) you will likely spend at a minimum $2500 and more likely 5K/ year. You can get by with less, but you start to compromise safety. And, older Beech parts are getting *REALLY* expensive.
3) Engine reserve. Your plane has 50 SMOH. The overhaul was done in 1999 by Poplar Grove...Good News: Poplar Grove is a good shop....Bad News...that's over 13 years ago. With only 50 hours in 13 years, you likely have a rebuild in a short period of time as a result (reference:
Continental's O-470 Series) Overhaul on the 470 will run between 20-24K plus removal and installation labor. I would think about having a reserve, or at least money ready. If the motor goes south, you either eat it in the overhaul, or eat it in the sale price.
4) you will burn about 12.5-13 GPH, so plan on 13x$6/gal=$78/hour in fuel.
Net Net if you fly 50 hours per year (Low End, Scrape By, Engine OK):
Fuel: 50 x $78 = $3900
Hangar: $150 x 12 = $1800 (can you even get a hangar for $150?)
Insurance: $4000 (low time pilot in High Performance Airplane)
Maintenance: $1500 (assuming NO issues/maintenance, Annual Only)
TOTAL: $11,200
Cost/Hour: $224/hour. (How much are your local rentals?)
Net Net if you fly 50 hours per year (Moderate realistic budget):
Fuel 50 x $78 = $3900
Hangar 225 x 12 = $2700
Insurance: $4000
Maintenance $3000
Maps/Charts/toys/Misc. Other = $1000
Depreciation = $2000
Total: $16,600
Cost/Hour: $332/hour
Add an overhaul at another $25K and you are talking real dollars.
Don't get me wrong, I love to fly. The deb is a great airplane and you will have fun. But, I see too many people get into an airplane and don't really understand the costs, the risks associated with scrimping on maintenance or a myriad of other issues and end up losing their shirt, or their life.
My simple suggestion would be to take a year and rent a fixed gear airplane and learn everything you can. At $150/hour, you will spend $7500. You will save at least 4K and likely more like 10K in the first year. You will learn more about airplanes etc and have a better foundation (hours/skill) to make a decision to step up.
YMMV