Great question! I'll try and go over all the costs for you here:
Annual Inspection: ~$400
Insurance: $17/mo. for just liability, $130/mo. for full coverage.
Hangar Fees: $0-$500/mo. (varies greatly on location. Our plane has removable wings and can be stored in a trailer, and is small enough where you can rent 1/2 or 1/4 of a hangar)
General Maintenance: ~$50/mo. There are maintenance procedures at 25 hours, 50 hours, 75 hours, etc. that are pretty simple on our plane and all called out in the maintenance manual. At 500 hours the engine needs a top-end overhaul, which we do for free, and the 1,000 hour complete overhaul is factored into the hourly operational cost.
By aviation standards these are pretty low costs. In comparison, a bigger plane can have a $1000+ annual inspection, and an older plane can easily cost hundreds a month in maintenance (this is the big drawback to buying used, which is a popular way of getting a plane at an affordable price). It's hard to give a confident number for monthly costs with price variables such as insurance and hangar fees, but these are all things pilots need to think about and plan for.
Annual Inspection: ~$400
Insurance: $17/mo. for just liability, $130/mo. for full coverage.
Hangar Fees: $0-$500/mo. (varies greatly on location. Our plane has removable wings and can be stored in a trailer, and is small enough where you can rent 1/2 or 1/4 of a hangar)
General Maintenance: ~$50/mo. There are maintenance procedures at 25 hours, 50 hours, 75 hours, etc. that are pretty simple on our plane and all called out in the maintenance manual. At 500 hours the engine needs a top-end overhaul, which we do for free, and the 1,000 hour complete overhaul is factored into the hourly operational cost.
By aviation standards these are pretty low costs. In comparison, a bigger plane can have a $1000+ annual inspection, and an older plane can easily cost hundreds a month in maintenance (this is the big drawback to buying used, which is a popular way of getting a plane at an affordable price). It's hard to give a confident number for monthly costs with price variables such as insurance and hangar fees, but these are all things pilots need to think about and plan for.