It also depends on your approach. I had to ditch most all my equipment when we moved (shipping heavyweights nearly 3k miles when you won't have even have room for it sucks) but put together a cheap setup for very little.
I use electric burners and I can run a stovetop element for significantly under $0.50/hour and that's being extremely forgiving. I think last time I actually cared enough to look it costs me 34 cents/hour on high (I think most people grossly overestimate how much electricity costs in this area but it is unfortunately a little slower). I had an old crusher that turned out not to work so I picked up a cheap corona knockoff for ~$20/shipped from amazon, converted an old Ice Cube cooler someone gave me for basically nothing (I helped them with an electrical issue they were having), $6.97 for a Boiler Drain from Lowe's with a PEX fitting (fit perfect through the bulkhead with only a single hose washer and no leaks), and an old restaurant style pan (for my false bottom $2/yardsale) which took a double ended PEX fitting ($1), several drill bits ($3 for 4) since I went really small, and a hacksaw blade (bummed) to doctor up like I wanted. So about $35 bucks with tax and the time involved which was *MOSTLY* fun albeit not entirely.
It seems like I could have been competitive with DME without too much issue but I would have had to deal with DME which I personally loathe. There are unfortunately no LHBS around my area at this time although I could probably find one just over the state line into GA if I went searching at about 2 hours traveled. If I can find bulk grains for cheap that way there will be no comparison. As for the grinding grains with a handle crank, stirring mash, etc... My kid absolutely loves doing both so I get nearly free labor out of the deal (I'd feel bad if I didn't at least buy her some candy or donuts for her effort). The problem, of course, is you ultimately won't stop there. As has been stated repetitively, you have such great flexibility when you go AG that you find yourself pushing for that extra couple percent (I used to be in the 80s, early 90s usually, now I'm in the mid to high 70s
). You end up buying a BC @$115 (or some other such mill such as the 3 roller Monster Mash I want just for the namebrand
), perhaps a better mash tun layout which I really don't believe is necessary, a larger pot (how could this possibly hurt?!??), and better fancy paddle cause we all need to waste some money on something... etc etc etc.
The reality though as far as I'm concerned is that alternative hobbies (golf, shooting, moviegoing, etc) would end up costing me more in the long run with less to show for my money. And keep in mind when you need help around the house fixing a drain or a roof or other such things you find people a lot more eager to come over when there is free beer to be drank while working on it that you get all kinds of free labor out of the deal. Sweat equity might suck but it's incredibly easy to overlook all of the value you reap from it sometimes.
And with that I'm going to force myself to go be productive or something. Stupid propensity to procrastinate...