I'd definitely NOT buy an aircraft outright.Buy a share in a group owned aircraft.I am buying a share in an old 150 for about £1200 and although there are 19 others in the group,the availability of the aircraft is almost as if I owned it outright due to the fact that in group,there are people who really don't use it very much.Of course I am lucky in that I can fly on weekdays.
To own an aircraft outright is one hell of a financial headache and not worth the bother in my opinion.I would go as far as to say that even hiring at club rates is preferable.
BTW,the hourly rate on our 150 is £25 wet AND it will be much easier to sell a shar than to sell an aircraft when the time comes.