I started in the hobby back in '91...and honestly I wanted more than anything to disprove the accepted adage of the time "Forget about making Beer! It's too hard to do right...make Wine instead".
Charlie Papazians THEN NEW COMPLETE JOY OF HOMEBREWING, empowered me to believe I COULD make good beer. Of course, I crunched the numbers. It's always easy to RATIONALIZE a new hobby when you prove to yourself you can actually SAVE money!
I bought one of those white platic pail kits, Bottling Bucket, Lid with air lock hole, Hydrometer, Racking Cane, bottling wand, tubing, capper, caps, air lock, floating thermometer. I also bought a Canned "Kit" beer...and dry yeast packet. Long story short...I made some of the most god awful stuff I've ever tasted. I gave the hobby a good go...but if you try too hard to save money...you make bad beer. It wasn't unusual to make beer by mixing LME and a bunch of corn sugar (cheap) and pitch dry yeast... And you'd come up with some pretty rank tasting beer like substance. Suppliers today realize that quality is important...so most KITs include pure DME or LME for the base...and have steeping grains and quality hops...and usually direct you toward a quality liquid yeast. My son, who started brewing two years ago in Gainesville, FL...started with a Ginger Beer Kit from the LHBS. His first attempt was fantastic!
After 5 attempts at making extract brew...I finally approached an all-grain brewer in our club. He agreed to teach me all-grain brewing IF I would bring enough ingredients over to make 10 gals... He'd keep 5 gals as "tuition" for the course. It was the best investment in time and ingredients I've ever made. My results improved dramatically! My all-grain setup started out on the cheap. Cooler, false bottom made from drilling holes in a peice of plexiglass, a bottleing spigot in place of the normal drink cooler faucet. A converted keg. A cajun cooker. Glass Carboys.
Quaility Ingredients, Quaility Yeast, and fermenting at the proper temperature (which in South Florida means getting an extra fridge (room temp is 78 most of the year)...are probably the most important factors of making good beer.
You'll keep on adding things. Grain Mill, Keg System, Kegerator, Jockey Box, Chill coil, you might even go over the top completely and make a computer controlled HERMS system with multiple burner, elements, PID's, Pumps, heat exchangers, hopbacks...and wind up spending a fortune. But it's all done in the spirit of making quality hand crafted beer.
I love to drink Guinness. It's over $5 a pint in restaurants. So if I consume a KEG (50L, 13.2 US gal) that would be over $422 plus tips. If I buy my own Keg...it cost $160 plus tax...or about $1.88 per pint (IMP Pint 20oz) and I don't have to tip myself. If I homebrew my own clone of Guinness...it costs around .65 per pint...and I could go cheaper by repitching my yeast...or buying bulk grains/hops. But when you compare .65 for a Pint of Guinness...to $5 a pint...you reward yourself with every satisfying swig! by saving money.
You can spend almost any amount on equipment... Consumables are an expense...the rest of the stuff...you can probably sell for almost as much as you paid for it. Most of my brewing equipment is worth as much today, or more, as when I bought it. I handed down a bunch of it, when my son started brewing...and had to buy more for myself.
If you're like me...the only regret you'll have after starting to homebrew is... I don't have enough time to brew as much as I'd like to...and I can't possibly go to every party that I'm invited to attend...(If you homebrew...you're always invited to every party --- if you bring some homebrew)