I am not a rich man.
I am known to splurge on the occasional steak dinner, and I refuse to cut my own hair, but I also use coupons at Carls Jr. and will ride three buses before taking a cab. So I will be practicing similar monk-like frugality with this project as well.
Unlike most other DIY projects, homebrew guitars have a nasty habit of costing more than buying a brand new one, and still turning out at a lower quality. Kind of sucks, right? This is particularly true of a first guitar project, as you have to purchase all kinds of git constructing materials like wood glue, a soldering iron, swastika embossed pickguards, etc. Luckily, I have a pretty good set of tools on-hand and a good junk box of stuff from older projects.
Here's my tool:

Here's my junk:

Another drawback when competing against an off-the-shelf guitar though, is cost of materials. Obviously Fender can purchase bulk lumber at a cheaper price than me, and afford to sell their guitars for less than I could make one, because they move so much volume. So the trick becomes what corners can I cut while still coming up with a quality instrument. Using my own cockamamie theories and flimsy grasp of sonic physics, I'll attempt to keep costs low, while ultimately ending up with a great sounding and looking guitar. Here's my plan

to keep it under a grand for...
THE BODYThe guitar's body is just a big hunk of routed-out wood. Despite it being the bulk of the instrument's weight, I'm least worried about fucking this part up: it's just a big hunk of wood, who fucking cares, right? So I can cut some corners...
TYPE OF WOOD - I want it to be made of Ash, because I want this Tele to sound like a Tele, but I'm going to go with the cheaper Northern ash, instead of the more expensive southern swamp ash. Swamp Ash is prettier, lighter, and warmer sounding. Northern ash is not as pretty, heavier, and brighter sounding. If a nice piece of Swamp Ash comes by, I'll grab it, but this is a compromise I can make. Tele's are supposed to be bright sounding anyway.
This is the wood I'll be sportin'
You'll see as this process wears on, that I kind of have a "when in doubt, go heavy" attitude about woods and metal anyway. I can't really tell a good cut of wood from a bad one, so I figure by going heavy, at least I won't get a thin-sounding or structurally unsound guitar. Just kinda hedging my bets. Either way, as long as I have a piece of ash, I think I'll be in the ballpark.
# OF PIECES - Here's something I really don't give a shit about. Some guitar bodies are made of two or three glued together different pieces. It's generally more expensive to get your hands on a one-piece body. In theory, it would resonate better than glued together pieces. Can anyone tell the difference? Of course not! At least I can't, and I will be the one playing this guitar.
FINISH - Ever notice how guitars are all pretty and shiny, have ya' fuckface? Of course you have, you
and your fucking face have noticed! That's because they're generally always treated with some kind of chemical finish. I won't be doing this myself, as I am an apartment dweller and can't be messing with messy chemical finishes that need to ventilate and dry. So I'll need something pre-finished.
There's different kinds, but the basic options here are Polyurethane and Nitrocellulose; nitro being the pricier option. Older instruments and more expensive modern instruments will use a nitrocellulose finish. This is desirable because it ages better, slowly wearing away and darkening to an antiqued yellow-ish vintage type look. It also supposedly allows the guitar to reverberate more naturally, as it's a thinner finish. Polyurethane is the cheaper alternative, and doesn't so much age or wear away, as chip. It does however, have its own appeal as a very glossy finish. Supposedly, its thicker finish hampers the tone of the guitar's wood.
While I don't buy into the the thick or thinner finishes really having an effect on overall tone, I do like the idea of a guitar that will age nicely and become more beautiful with time. I would like a body with a nice wood grain, and a finish that accents it, rather than a solid paint job. Thus, I'll be keeping an eye out for a nitrocellulose finished body.
STRING THROUGH/TOP LOADEDI can either mount the strings THROUGH the guitar's body, or through the metal bridge on its top. This one's kind of a no-brainer for me. I'm

going to go with String Through body. If music is vibration-> and it's the guitar's strings that are vibrating-> the more of that string touching the wood-> the more the wood is vibrating-> thus making the wood more musical-> dig? Could be utter bullshit, but it just makes sense to me. At the very least, I should get more sustain out of notes with this approach. Plus it's free, because if I get a body not drilled for String-Through I can always drill it out myself.
POCKET MEASUREMENTSI'm looking to do the least amount of work necessary here, so I'll want the pocket for the neck to be the standard measurement. A quick googling tells me this is 2 3/16" X 3". This will save me a lot of grief when looking for, and ultimately trying to fit a neck.

PICKGUARDNow this is not part of the body, and is an aesthetic choice, but will ultimately have great bearing on what body I select, as I have decided not to mount a pickguard on my tele. I just feel it will look more unique, and as I am looking for something with a nice finish, I don't want a piece of stupid plastic covering up all the nice wood. You generally don't see teles without pickguards, as the neck pickup usually screws into the pickguard. I'll have to mount mine to the body instead. Because of this decision, I won't be able to use any bodies that are pre-drilled for pickguard screws, unless I want a bunch of ugly holes all over my guitar.

This cuts out alot of used bodies or Fender licensed bodies as viable options.
So these are my basic requirements:
1.) Ash Wood
2.) Routed
3.) Finished
4.) Standard Neck Pocket
5.) Not drilled for pickguard installation
And these are the "goodies" I'm looking for, but can live without:
1.) Swamp Ash
2.) Nitro Finish
3.) String-through
Now, if you're a normal human who has stumbled upon this blog and felt like reading a little about guitar construction, or if you're a friend of mine, reading to be nice, you probably think everything I've said above is fairly reasonable. Believe me: a guitar weirdo is currently reading this and freaking out over some of the statements I've made. Probably to the tune of:
"Nitrocellulose reverberates at a frequency of 1.21 jigowatts and causes a huge difference in tone! Also swamp ash isn't "WARMER" than Northern ash, it's "DARKER", those are not proper tone descriptors!"
This same man beats his dog until he sees blood.
There are a lot of elements that make up a guitar's tone, and a guitar's tone is just another piece in the puzzle of your OVERALL tone. Yes, ideally, you should do everything you can, every step of the way, to make everything sound as good as it possibly can. But ultimately, when the guitar's playable, I'll be pushing its signal through several effects boxes, and blasting it through an amp in some noisy club. Probably with a few beers in me. Ok, DEFINITELY with a few beers in me.
Trust me: you can skimp on some of this shit. I am going cheap on the body, but this will allow me to NOT go cheap on some other parts, which I feel are more important. Here's some worst-case scenario figures I have in mind right now:
Body: $250
Neck: $350
Pickups: $250
Hardware: $150
This will bring me in at $1000. A Fender Standard American Tele lists for about $1000. I'd like to come in WELL UNDER that figure, and I think I have enough tricks up my sleeve to not only beat it in price, but completely blow it away in both looks and tone. It also doesn't hurt your chances when you're ok buying used and blemished.
Off to ebay...