As far as a financial judgment as to whether this is an economical way to get a new gun, IT IS NOT! You will spend more in total than it would cost to get a new, brand name firearm.
HOWEVER, it is a REALLY FUN project, it is interesting, it is very educational AND you can wind up with a firearm just like you want, one that is most servicable and one you will be proud to pass on to the kids/grandkids.
IF PERHAPS you know somebody who can do the rebarreling and headspacing (so you won't have to buy those expensive tools for a one time job), it may not cost an arm and a leg. Obviously, the more work you can do yourself, the less actual cash you will have to invest.
If you want to go all out and build a super accurate full custom gun, the amount of money that can be spent is unlimited, but so is the outcome!
Common costly expendatures:
True up receiver face, threads, boltface, lap lugs (optional depending on degree of accuracy required)
Rebarrel and headspace
drill and tap for scope mounts
bolt handle alteration to clear scope
low swing safety
new aftermarket trigger
iron sights(?)
reblue entire gun
new stock/stock finishing
recoil pad, sling swivels
Hope the above will give you some info on making a decision. BTW, I have done four!
