buying the first plane
I'm doing my PPL at the moment in Melbourne, Australia and am looking into buying a plane, most likely either a Warrior or a 172. At first glance it looks simple enough:
Purchase cost
Insurance roughly 5% of purchase cost
Maintenance approximately $4000 every 100 hours or 12 months
Hangarage approx. $500 a month at Moorabbin or Essendon
What are the traps I might not be aware of, and what advice would those who have gone before me have on buying a plane? I'd estimate I will fly between 100 & 150 hours a year. Any help will be appreciated.