Hour-building in the UK can be very cheap, depending how you do it.
The cheapest way, I believe, is as follows, although I've yet to meet or speak to anyone who's actually done this. Do your PPL, and make sure you get tail-wheel training either during or immediatley after your PPL. Then, start hunting around local airfields for shares for sale in single-seat PFA aircraft. To give you an idea of the cost, I've seen 1/12 shares in this type of aircraft go for less than £1,000. Then, hour-build to your hearts content. A typical cost of flying this type of aircraft would be around £10/hr and £15/month. Once you've got the hours you need, sell your share to get back your initial investment - unless you become hooked on open-cockpit flying at 70kts, of course, in which case you might decide to keep it!
If the idea of a single-seater doesn't appeal, then you can still get some cheap flying. I own a share in a Europa, which costs me around £35/hr and £50/month. It's a two-seater, which means you can get training on the type, so it's not so essential get the relevant differences training beforehand. I think you would have trouble beating this price, even in the US, if you are renting. (And you will certainly have trouble beating it when you consider that for that price I get a turbo-charged engine, variable pitch prop, retractable undercarriage, and a 120kt cruise.)
I would imagine that buying in your home country has to be much easier than going abroad to buy. In which case, from your two options, option 1 will suit my idea the best.
FFF
--------------