From: RWolf99@aol.com
Message-ID: <67.c398a66.2753101e@aol.com>
Date: Sun, 26 Nov 2000 20:17:18 EST
Subject: $150K Legacy
To: lancair.list@olsusa.com
Reply-To: lancair.list@olsusa.com
Mime-Version: 1.0

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The question was posed -- How much will it cost to get a Lancair in the air?

When I bought my 360  kit in 1994 I had a budget of $50-60K and will end up 
with a substantial overrun.  Like maybe a flyaway cost of $100K.  This is not 
due to unrealistic budgeting, but a change in my approach brought on by a 
change in my financial situation.

My plan at the start was to buy a slow-built kit ($20K), an almost run out 
engine ($8K), a fixed pitch prop ($2K), hardly any avionics and do everything 
myself.  The project has metamorphosed into a fast build kit ($27K and the 
extra was worth every penny), a factory new engine ($25K), and a constant 
speed prop ($10K), bringing the cost up to $62K not including tools, 
instruments, avionics and anything else not included in the basic kit.  In 
addition to this I've bought (or will buy) some things I intended to build 
(like avionics wiring harnesses) and I've added several bells and whistles 
from Vern's options catalog.  And if I can figure out a way to pay for it, 
I'll have it professionally painted.  I'll probably be at $100K when all is 
said and done and I'll be paying off loans for quite some time.  And loving 
it.  But since I've stretched it out for so long, I've managed to pay off a 
good chunk of it already.

So I think Curtis could, in fact, build his 360 for $75K, but I think Micah 
may well end up near his $150K target.  Consider the following:

Legacy kit $40K
New engine $25K
Prop & governor $10K
Professionally assembled panel $10K (labor and design services only)
Avionics $20K (for a nice radio stack and an HSI or an autopilot, but not 
both)
Paint $10K
Interior $10K
A week at the factory ($4K, last I checked, which was a while ago)

That's $129K right there.  Another $5K for tools and $5K for knick-knacks 
(like an airspeed indicator...) and $150K comes up awful fast.  I think it's 
fairly obvious where economy measures can be taken (used engine, paint it 
yourself, go easy on the avionics and upgrade later) but I'd feel very 
comfortable with a $150K budget for a Legacy even if I wanted professional 
help wherever it's available.  (My wife is convinced I need professional help 
anyway, but I think she's talking about a mental health professional...)

I told myself when I was 21 that there's no way I'd be in my forties when I 
finished my first airplane.  Now that I'm 44 -- I'm praying I'll still be in 
my forties when I finish my first airplane!

- Rob Wolf
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LML website:   http://www.olsusa.com/Users/Mkaye/maillist.html
LML Builders' Bookstore:   http://www.buildersbooks.com/lancair

Please send your photos and drawings to marvkaye@olsusa.com.
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