Growing dilemma - upgrade or trade

[GusMcRae]

I seem to be facing an ever increasing dilemma in regard to fixing up a 1967 182K, with not so good paint and a "so so" interior, or just trade it.  TT is roughly 4,000, TSMOH is roughly 700.  Prop just came out of the shop and it is an obsolete model, barely found parts for it this time, they don't even make the parts for it anymore.  Great Garmin stack, however the 430 screen is going out (not all the way gone yet).  I found out this week that the ONLY way to have them fixed is to upgrade to WAAS to the tune of roughly $4,000 (labor included). 
I'm trying to get to the bottom of a suction issue, possibly the regulator or a bad hose, no biggie, we'll get to the bottom of that.  But if the problem lies in both the instruments,,,
There's an Aspen product on sale right now for $1500 that would replace the DG and AI, but you have to have a backup AI, and then you could do completely away with the vaccum pump.  But the backup AI is $2300.  The Aspen product would also resolve the upcoming ADS-B issue coming up in 2020.  But I'm just imagining what the panel will look like unless I went on to get the custom metal panel overlay.....
Other things I'd like to upgrade to, in priority order, are 1) engine monitor 2) STOL/VGs/flap gap seals 3)wheel pants 4) new back window and back 2 side windows (as all 3 are very crazed) 5) New Paint 6) Metal Panel overlay. 

Or just cut bait and trade for something that has far fewer issues. 

[Pistol Pete]

I understand where you're coming from. My question would be, is this airplane mechanically sound otherwise?

We have a really nice 172, and we want to upgrade to a Cirrus... However, the more we research the Cirrus (and talk to owners), the more we love our 172. For us it's purely an economic consideration. We have no real "need" for a faster airplane, and we don't like the potential costs to maintain a complex machine.
Some time this year, we'll install the Power Flow exhaust, gap seals, and re-pitch the prop. That may get us another 5 knots and 1-2 gph less guel burn. We'd love a 140 knot+ airplane, but the costs can be out of our budget... Plus, you never know what issues you inherit when you purchase a different airplane.

It looks like you're talking about roughly $30K worth of upgrades... if the airplane is fundamentally sound, I'd strongly consider upgrading what you have... From everything I've heard, a 182 is the best all around airplane made.

Anyway, that's my opinion. Plus, we need more posts in the "When Pigs Fly" forum!

[GusMcRae]

It is a sound flying airplane.  With neutral wind I typically get 125kts.  Pretty stout headwind will bring it down to between 100-112.  Decent tailwind and I can get up around 140kts, on up to 150 or 160 depending on how strong the winds aloft are.  From talking to other 182 owners, and observations from knowledgable pilots who have flown with me, I don't believe it is an extra ordinary performer,,, maybe below average for 182s. 
Inheriting other problems with a different plane is the scary part, and that's what I've been dealing with in the 3 years I've owned mine.  2 cylinders, both exhaust stacks, prop seals, prop governor, alternator, suction problem, auto pilot.  And, I believe most of the problems have been due to the fact that it did not get flown much in the last 20 years.  Sitting in a plane port instead of a hangar prior to me owning it has taken its toll on the paint and windows.
I think you're real close on the price of the upgrades.  I agree with your statement on 182s, and I think it fits my mission the best.  However, my useful load is just under 1100, and the R models along about 1981 typically show to increase by 100- to almost 200# more in some.  That's significant, and I could use that extra from time to time.  Due to the age of my plane, I just think I should consider looking for the right R model to trade up to, with at least most of what I'm looking for already installed, as opposed to sinking more money into mine.     
 

[gotyacovered]

I'll expand mote later... But I say upgrade. I know the entire history on my 68 182L so I just recently decided not to follow that advice, but knowing whatya got was the name of my game.

OR... By a run out -R or some other model for next to nothin' and upgrade from there... I think if I was plane shopping I would go for run out something and upgrade it.

[GusMcRae]

I'll expand mote later... But I say upgrade. I know the entire history on my 68 182L so I just recently decided not to follow that advice, but knowing whatya got was the name of my game.

That's just it,,, i don't know the history other than reading the logbooks.   

OR... By a run out -R or some other model for next to nothin' and upgrade from there... I think if I was plane shopping I would go for run out something and upgrade it.

I've looked at TAP or Controller as well as a number of broker websites picked up from
the ads on TAP or Controller, looking at it from both ways,,, low time engines, and run out engines.  I don't know if they all just don't want to start out too low, but it seems that folks still ask a lot for planes with a run out engine. 
I've got a lot of time left on my engine.  Smartest thing would be to stay patient, fix what I have to, look for the right deal. 
I seem to hear of the great deals happening private treaty, planes not even being listed with a broker or not even listed on TAP/Controller/Barnstormers....  Friend of a friend has quit flying, has a great blah blah blah just sitting there, he's thinking about sellling, or so-in-so saw a plane on a bulletin board at the XYZ FBO,,, those type of deals.

[gotyacovered]

i never got to reply in full...

(1) i think with your engine and if your happy with the model, its a fixer upper. may want to consider dropping a new GPS in while this one is still working... (trade value).

(2) if you want 6 seats, i think now is the time... work on vacuum issue (get it solved) and put her on the market. i think it would be pretty marketable. mid-time sorta up to date avionics, but nothing that drives the price through the roof, would be a good plane for the right person.

if you take (2) other options that my dad proposed to me when i was in the pponk decision making process. and where the real decision is

find the nicest (equipped) 1970-80 206/210/Bo/etc (whatever you are looking for206 for me) you can with a run out engine, and swap that sucker out before you ever fly it. to me that solves several problems, most of the 'know what ya got' (for me) drama revolves around the engine. that prob is solved. i will never buy one that has mid-low time and its been sitting. 100% of my problems revolve around sitting in a hangar year after year. with a new or majored engine, you now know whatya got. if it is nicely equipped and has a run out enigine you know that likely it has NOT been sitting.

i am never (well probably, well maybe not, ok... maybe so) going to buy another plane,  but i can promise that i am buying a plane that meets one of the three criteria below:

-new engine - not been sitting, buyer upgrading
-run out engine, nicely quipped - maybe not latest greatest, but close
-mid time engine, flown regularly but the latest great avionics, im talking 750/650/stec/g1000/etc

i have totally subscribed to the 'you can pay me now, or you can pay me later' theory. all airplanes that fall into this category will be higher than the perceived good deals out there, but i believe they will be cheaper in the long run.

after the engine swap i am going thru currently, and the 'sooner than later' /G and comm upgrades needed... i think i bought my initial half cheap enough that with $60k in upgrades, i wont completely lose my arse. just a little.   

my experiences in ownership of a low time airframe (bought with 2200hrs), sat for 5-7 years, high time engine (900smoh/250 stoh) led me here. right wrong or indifferent, we shall see.

and of course... all opinions on this post are subject to change 5 years from now