Hi Steve here, just landed here by following a link - like many do I suspect. I'm a licensed pilot, but have not flown for about 25 years.
I got my PPL in 1982 flying out of Jandakot in WA, and over the next few years added endorsements for things like constant-speed prop and retractable gear, tailwheel, and night VFR. The idea of aircraft ownership was always in the back of the mind, and in 1990 we became able to consider it after selling a share in a piece of land in the country that we had almost forgotten about. I had always been very interested in the idea of building my own aircraft, but when I sat down and thought seriously about it, I decided that I'd rather be out flying than building for the next 3, 4, 5 or however many more years. So after looking around a bit, we ended up buying a lovely old (1967) Beechcraft Debonair - basically a 4-seat version of the Bonanza. Beautiful to fly with very benign and forgiving handling, and almost landed itself. It was a far better aircraft than I ever imagined owning - fast (145Kt cruise), comfortable for 4, and able to carry almost anything you could push though the baggage door. It was like sitting back and driving a big old Cadillac around.
But being an old aircraft, there were a few unwelcome surprises during the ownership that cost quite a lot of dollars - a situation that was to get far worse. By the middle of 1994 there had been some changes to our life activities and I wasn't flying as much, so decided to sell. When she was getting checked out ready for sale, corrosion was discovered - in places that were definitely NOT ok to have corrosion. It could have been repaired of course, but nobody would quote a fixed price, except to suggest that it would be very high. It would have been like signing a blank cheque, which we simply could not do, so sadly the aircraft was sold off to a place that dismantled them and sold off usable parts, at a substantial financial loss to us of course. It was a very hard life lesson, and that was me out of flying overnight. In recent years I've been watching developments in light aircraft developments, and am blown away by the capability of what is around today. When I was flying, GPS was only just beginning to be available to civil aircraft, and no privateer could afford it. Now even small LSAs have the full glass cockpit, autopilot, the works. And of course GPS is on every mobile phone and tablet as well. A different world.
I registered so I could add a comment to a thread, so I'll look in from time to time. Cheers.