July 2008 Issue
The Hangar Market: Rent, Buy or Build?
Thereís no take-it-to-the-bank answer that works for everyone. But with steel prices escalating, renting or buying an existing hangar may be the best bet.
Alongside what really happened to Amelia Earhart and whether shock cooling is mythical or not, the third great aviation mystery is this: If every airport has a hangar waiting list, why are there still so many airplanes roasting in tiedowns or buried under snow drifts? Clearly, given the choice, any aircraft owner wants a hangaróitís just a better way to do business. But when the list grows short and itís time put up or shut up, some owners balk at paying the $200 or $500 or whatever a month for sheltered storage. Itís simple supply and demand versus not-so-simple cost versus value. This leads to these obvious questions: Whatís the best way to pay for a hangar? Should you just rent one? Should you buy or build one and pay the airport for the leasehold? Or pay for a group hangar and risk hangar rash while someone else worries about maintaining the big metal box?
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