[Joeaksa]

It all depends on where you live and the associated costs in that area. Start looking around and stopping by smaller airports. Check on the availability of hangars and pricing.

Also you might talk to a local flight school. Ask them about your buying a plane, their taking care of it and when you are not flying it they could use it for instruction. Cuts your cost down a lot and they take care of everything.

Personally I would think that $12k is more than enough. I pay $170 a month for a hangar where I live, and its 2 miles from the house.

My annual inspection will cost under $300 each year (am a aircraft mechanic, but not inspector so have to pay someone to sign it off) so that helps a bit but you as an owner/operator can do a fair amount of the day to day maintenance like tires, spark plugs and lights. An airplane like the Bonanza above will cost thousands for an annual, but then its a complex retractable gear bird, and you pay for the extra speed and good looks.

Insurance costs me $800 but I am fairly high time, both total and time in type and no instruction is done in my bird. Your insurance might be double my cost.