Most certainly you can get a good rod for that price. Here is a list of materials off the top of my head.
Blank
Reel seat
Cork handle
guides
tip-top
thread
color preservative
varnish or epoxy.

The last rod I made I did most of the guide tying freehand with my thread on a bobbin. It worked nicely and gave me good control. I used a dental threader to whip the end of my wraps.

There are plenty of good books around and this site has a good forum whee you can always ask questions. I would say that you might end up with a rod that has more imperfections than one you bought already built but it should perform as well and well.. its yours so its better.

jed