I am not a fan of flying and I will probably never own a home in a residential airpark. That being said, it is a form of residential home ownership I find fascinating. Airparks are becoming surprisingly more common across the U.S. There are more than 400 airparks nationwide, approximately 35 in Texas, and 6 in San Antonio. Some are located in remote areas with ownership shared by a few people. But some are much larger, such as Spruce Creek in Daytona Beach, Florida. Spruce Creek has 1,200 homesites and multiple runways. One benefit is that instead of keeping a plane at a public airport and paying up to $1,000 for hangar space, an airplane owner can use the money to pay for their own home and airpark. Many of the people who choose to live in airparks are, of course, people who can afford it and either use their planes for business or simply enjoy the lifestyle that having their plane in their own backyard affords them. Although many airparks do not have air control towers, they have an excellent safety record and must receive the necessary approvals from the Federal Aviation Administration for the airstrip. I have friends who live in an airpark here in San Antonio and they love it but I am too much of a Fraidy Cat to venture into this type of homeownership. I prefer Terra Firma with my feet planted firmly on the ground.
More information can be found at www.bizjournals.com/sanantonio .
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As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.
