I am not paying anywhere near those costs for an LAA permit aircraft.
I have a 2-seater and do around 50 hours per annum. My breakdown of costs are as follows:
Purchase price £20k (the price seems to stay around that mark so likely to get £18k-£20k when I eventually want to sell).
Site Fees (landing fees included) are £95 per month.
Insurance £735 per annum which is third party, passenger and hull.
I use 13litres of Mogas per hour and a complete engine overhaul will cost £2.5k (Jabiru Engine). Engine TBO is 1000 hours. I have 500 hours to go.
My permit renewal each year costs £270 (LAA fees and inspector).
The 50 hour service (I do myself) costs £89 in materials.
Yes, there could be unexpected bills of which I did have one of 4 new cylinder heads and that was £1100 for parts (fitted by myself).
An LAA permit aircraft can be used for hour building.
So basically my annual cost based on 50 hours with no unexpected bills are £2790. That's including a £5 per hour engine fund (I have 500 hours left and it will cost £2.5k when I need a complete overhaul).
If I was to hire the club Cessna then it would cost me £5600 per annum to do the same number of hours and I wouldn't have the flexibility I have now.
Obviously unexpected bills can come but the worst case scenario would be a new engine which can be had for around £6k. Everything else is fairly cheap to maintain.