I just don’t trust the various cheap cosplay wigs sites out there because while sometimes people get what they pay for, often they don’t. There’s not enough consistency in the reviews to be worth it.
It depends on two things: how healthy your hair is, and how skilled the person styling your hair is (either you or someone else). There are some people who have the skills to style hair and dye it perfectly for cheap cosplay wigs assuming you have good hair to begin with. If you lack either of these things, a wig would be the easiest option.
The majority of the clothing aspect (depending on version chosen) could be closet scavenged or thrift store found. The hair though is the most expensive part. It would also depend on your crafting, cheap cosplay wigs, and sewing abilities.
If you can sew, you can save some money, but cheap cosplay wigs can still be expensive depending on what you choose. Also if you can sew, pick up oversized items in the thrift store and tailor them to yourself. I pick up leather pants and coats at Goodwill all the time and cut them up for other leather pieces.
I’m not going to cut my cheap cosplay wigs short or wear a wig (cuz I don’t like the feeling of wigs and I’m trying to grow out my hair), but I got red hair spray (temporary since my hair’s too damaged to dye). Hopefully it shows up well enough on my brown-ish hair.
You probably should cheap cosplay wigs with picking the version with the easiest to thrift/closet find outfit then figure out what you would need to purchase from there and look for sales.