Best bet is to build something like this in stages that allow you to get some use out of the thing so that you can see what you need to add, and then start saving up. It will cost you more than you planned due to needing tools and whatnot.
This way, you dont get overwhelmed and then discouraged. The end product makes it all worth it though! Be sure that you are not spending more than a comparable commercial unit. I made that mistake with mine and looking at the Maxspect brand led
lighting. They use CREE leds now I believe...