Hangar Space – Buy vs. Build

8 June 2020   Hangar Space

Small and private aircraft such as planes and helicopters are investments that require particular storage space. An airplane hangar ensures the safety and upkeep of your aircraft while in storage. Monmouth services most kinds of private aircraft from helicopters and prop planes, to multi-engine Gulfstream charter Jets. We have common-use hangars, t-hangars, and larger aircraft hangars with attached office space to set-up your corporate flight department. 

Airplanes, while very strong and durable in flight, are downright fragile on the ground. An aircraft can shoot through icing temperatures and turbulence in flight without any issue an then be completely dismantled on the ground due to gusting wind, rain and ultraviolet rays.  

But what are the options available to hangar an aircraft, and what is your best option?

Rent vs. build

The designated purpose of the aircraft plays a big role in decision making. If your aircraft is used for recreation and light business travel (think Cessna, Piper, or Beechcraft singles and twins), you might want to consider renting. For aircraft owners who fly occasionally and greatly just for pleasure, the investment of building their own hangar might not add up. But if you do want to invest in an airplane hangar of your own, you can reap from several benefits that you won’t get with renting.

The cost to build an airplane hangar is indeed suggested a serious purchase. In particular, the high cost comes with custom-designed and spaces with unique systems. However, the price alone shouldn’t be your only considerations when contemplating whether to rent or build. Other factors to consider are :

Customization:

Airplanes come in different shapes and sizes, with different wingspans, auxiliary propellers, and other parts that take up space. Guiding the aircraft in and out of the hangar requires plenty of space. Renting an airplane hangar can limit your choices for customization while building a custom hangar allows you to design your space to accommodate your particular storage and space needs.

Reliability:

If you rent a hangar, there is a possibility that you can run into some problems if the owner rents the space to other pilots. For example, if you fly in at a particular or unscheduled time, you may find your hangar occupied. This can be very frustrating,a hassle, and even amount to additional costs. Building and having your own hangar allows you to avoid any unforeseen problems out of your control.

Reduced costs:

Although renting an airplane hangar might instantly be cheaper than building your own hangar, letting space can be painfully costly. Especially for occasional flyers or businesses that don’t regularly use their aircraft. If you build an airplane storage facility instead, you can use your hangar when you need it, preventing unnecessary costs. Even if you make use of a loan to build your hangar, you will save on costs in the future. You can rather have monthly repayments that go into the space that you’ll eventually own than paying rent forever. 

 Safety and security:

A hangar is more than merely a large garage or warehouse. The

asset(s) it protects requires functional storage space to keep them in top shape and best performance. Although leased hangars are able to withstand the harsh weather, building a hanger allows you to ensure protection on your terms. 

 Revenue- enhancing:

If your airplane hangar is situated in a popular area, you can take advantage of unused space by renting it out to other pilots. Additionally, if you ever decide not to use your hanger anymore you have the choice to rent out the entire area or sell it when the time is right. This makes owning your hangar a profitable scheme.

Monmouth Jet Center at Monmouth Airport is home to ample airplane hangar space of all types. Our facilities service most kinds of private aircraft from helicopters and prop planes, to multi-engine Gulfstream charter Jets.  We have common-use hangars, t-hangars and larger aircraft hangars with attached office space for rent.

For those with a longer-term vision for their flight operations, we have attractive financing options available for custom hangar building for the flight operator with an eye on the future. Monmouth Airport’s 850 acres make is larger than LaGuardia Airport yet it is mostly undeveloped.land with prime positions for hangar development for corporate flight operations

 To learn more about our airplane hangars please visit our website at http://monmouthjetcenter.com/

The New Monmouth Jet Center is ready now, and building for the future