I too took on a project
a while back. You can build it for fairly cheap
if you already have the tools. Materials can be expensive depending on what you buy. I opted for the cheapest boards around and rely on many many coats of spar urethane to protect from the elements. I spent a significant amount of cash buying
countless wood working tools. The money part so far is about 1000. I exepect to sink another 1500 to finish it.
With all that said, time time time. When I first joined this forum some wise sailor said to me 'take how long you think it will take and multiply by five'. Well he was correct. In fact, given your land situation and tool roster try multiply by ten. Not to be negative though. I think you should do it. This project
keeps me occupied and the money I spend on a long term durable good, as opposed to mindless cash expenditures. I look forward to your pics. Ill be posting
my progress this weekend to show you my starting conditions.