Advice on Airpark lots

[rupertjl]

I've found what i hope to be my retirement place on an airpark. The lot currently for sale seems to be a good deal and I was looking for any advice or 'gotcha" with buying lots on a residentual airstrip. I'm wondering if there are any banks or lending companies that specialize in this type of thing as well. Any help would be greatly appreciated!

v/r,
Jud

[GAHorn]

Homeonwer-association bylaws/constitution/fees, and liability as regards runway ownership.

I.E. Who owns the runway?

Some communities, each owner is deeded out to the rwy centerline and each owner shares the mx/upkeep/liability. You need to decide if that's for you.
A better method (IMO) is a HOA which owns the rwy, but beware the contractural and legal obligations/liabilities incorporated.

As in any real estate transaction. title insurance is an issue. (Will your title insurance only reimburse you for YOUR individual lot? or will it compensate you for the loss of an aircraft operating area as well, should the title be found defective in future years?)

Neighbors can be a real issue at some communities. Any HOA rules of operations relative to FARs? (I've a friend whose neighbors bought/operate there because they like low-level aerobatics and ad-hoc variations from generally accepted practices. He's now considered the "FAA-Nazi" at his field because he brought the subject up at a HOA mtg. I suggest you attend a HOA prior to buying, just to witness the "flavor" of how the group interacts, and ..important...get to know each neighbor and their likes/dislikes BEFORE you commit to join their community.

[Brad Brady]

As George mentioned, the community usually isn't the issue. It's the small things...As of now, the people on our strip.....Three out of five lots are living here. There is a dog restraint provision in the contract of the strip. As of now everyone lets each dog go to the neighbors and there is no issue.....but when there is an issue......things will have to change ...It's good to have the small items in the contract.....But it is also good to be a good neighbor.

[mike roe]

Some key issues are
Good approaches
Good drainage
Is their a neighboring airstrip where someone lives with a 170
Is their a A+P on a neighboring airstrip that can help and fabricate sheetmetal parts.
Is their a pilot on a neighboring airstrip with a yellow Stinson that matches your 170 yellow.
Can you fly to a airport within 15 minutes and get the lowest price on Avgas in the area and taxi up to a restaurant for breakfast,lunch,or dinner.
These are just some key points,if it meets these-BUY

[rupertjl]

Mike,

You make a good arguement. Maybe your 170 would get back together if you had an extra set of hands to hold the bucking bar!

I'm going to fly down and meet the airpark owner and I've recieved a copy of the HOA. I've got a few question for the lot owner and then all I have to figure out is how to pay for it!

v/r,
Jud

[DaveF]

Make sure there's no way for one person to own a controlling interest. I know of one airpark that was shut down by a developer who'd quietly bought up parcels.

[170C]

Another source for information regarding airparks is Dave Sclair at General Aviation News. His email address is dave@generalaviationnews.com. Ph: 800-426-8538 Dave has researched the do's & don't's of airparks for quite some time and also has a publication called Living With Your Plane (if I recall correctly). No doubt he can offer some good tips to you.

[N2540V]

I stumbled against one obscure issue for one airpark.
The local government has a recent law that the hanger and the home cannot be serviced by the same water meter.
The current cost of a second water connection is a mere $8,000.

You can get around this by having the hanger attached to the living quarters.
Luckily, my design has the living quarters upstairs.

[edbooth]

THE ONE MOST IMPORTANT THING RELATIVE TO AN AIRPARK, IS THE STRENGTH OF THE COVENENTS AND HOW THEY ARE ENFORCED. Don't let the overwhelming desire to have a hanger in your back yard cloud all the other details associated with living with your plane. Nothing converts friends to enemies and provides revenues to lawyers more than ill concieved airparks. If you care for more info, give me a call.

Ed Booth, Trenton, SC