The building is ours until the day the lease expires so we can do as we wish.. The funny thing is the city manager told us "you'll have to get a demolition permit, even to remove fixtures, and we control that." We either leave the building or return the land to prelease condition..

Cary wrote:...I would never build a building on someone else's property. Even the 99 year leases that cabin owners have on government property eventually come to an end, and there is no guarantee of renewability....

Neither would I, if I had much of a choice, but if the only way to have a hangar on the only nearby airport is to build it on leased ground, you gotta do what you gotta do.

I know a guy who bought a hangar which the ground lease was gonna run out on in about 10 years. He crunched the numbers & figured out that it would actually be cheaper to buy that hangar & pay the ground lease for 10 years, than to rent a comparable one for that same ten years. Meanwhile, he was gonna try to get a lease extension.

hotrod180 wrote:Neither would I, if I had much of a choice, but if the only way to have a hangar on the only nearby airport is to build it on leased ground, you gotta do what you gotta do.

I know a guy who bought a hangar which the ground lease was gonna run out on in about 10 years. He crunched the numbers & figured out that it would actually be cheaper to buy that hangar & pay the ground lease for 10 years, than to rent a comparable one for that same ten years. Meanwhile, he was gonna try to get a lease extension.

Yeah, it would be great to own something at the end, but ultimately all you can do is compare costs between the available options and make decisions on that basis.

The hangars at my airport are super cheap. 20-50K. But my airport has been closed for three years now, so I'm paying $240 a month to hangar my plane nearly an hour away at an airport with no reasonable ownership option.