Questions to Ask When Buying an Airplane Hangar

Do You Need a Hangar?

• It is important for the potential owner of a hangar to know what he is investing in. A hangar can significantly lengthen the life of an aircraft. It is an investment in the quality and longevity of the aircraft. Aircraft left outdoors are susceptible to heat, cold, oxidization, airborne pollutants, insects, birds, and even vandalism or theft. Even one thunderstorm can cause damage to an aircraft costing tens of thousands of dollars. All of this can lead to additional maintenance and even the need to replace an aircraft prematurely. A hangar can be used for more than just aircraft. With the amount of space a hangar provides, it can be used to store nearly anything, including large equipment and machinery.

Why Buy Instead of Rent?

• The reasons to buy a hangar instead of renting hangar space are very similar to the reasons to buy a home instead of renting. A hangar will almost always appreciate in value, perhaps upward of 15% per year. By owning a hangar instead of renting, you are not vulnerable to the whims of a landlord. By owning, you never have to worry about rent increasing or losing hangar space for your aircraft. Further, with hangar space at a premium, especially in densely populated regions, it is often possible to rent space in a hangar to tenants. Renting out space can offset the initial purchase price and hangar upkeep costs.

What Size Is Right?

• Determining the size of hangar you buy depends on several variables. You must consider what type of aircraft will be stored there. If you plan to house only one aircraft, a small hangar would work well. A small hangar has lower utility costs and represents a smaller initial investment. On the other hand, a large hangar will have space to house multiple aircraft and other facilities, such as maintenance areas. Space not used by the owner of a large hangar can also be rented to tenants.

What Will It Cost?

• The price of a hangar can vary greatly. Size, building material, and location must all be factored into the equation. The land a hangar is built on must be leased from the airport, which will be an extra yearly or monthly fee. An average price for a hangar is about $200,000.