Some good responses, some a little off topic, like mine may seem.
I am at the end of the same situation of the op. I have been wanting to build one forever it seems. I decided recently that it was time to act. I spent most of this year learning by reading the build posts in one of the other forums. I am a true ford enthusiast, so I wanted a ford powered cobra....period. If I was a bowtie fan I would have acquired a Corvette of similar design.
It really did not take long to realize that building was way more expensive than purchasing one that was already built. REALLY
If you stick to the pure donor concept and go very basic with absolutely zero upgrades, then the numbers will pan out as planned. But as a performance oriented individual (as I am) simple mods to enhance suspension, drive-train, power, ride quality and braking add up very fast.
Donor vs non donor build is a tough choice and there are many pros and cons for both, but it really boils down to exactly what you want the end product to be.
To build one or to buy one built is also a tough choice. I have seen basic donor builds sell from 15 to 30k. But I did not want a basic build. I have seen non donor builds from 25 to well over 50k. My budget was 25k period....
After months of research, I chose a path that would provide me with an original classic look, as much comfort and performance as could be reasonably had within my budget, lighter weight to help with handling and operational economy and modern power-train features to enhance reliability/drive-ability and to allow for simple affordable power upgrades/tuning in the future.
A mild small block (windsor) stroker was my original choice to keep the weight down and allow for good street manners. FFR gen III or newer was chosen as I feel that they provide the best compromise of classic lines, suspension and drive-train selection and the aftermarket is now booming with goodies for the FFR Cobras.
If you stalk the forums long enough you may be able to find a documented build for sale. The one I found for sale was from a forum member that published his build and any issues he had.
I found a very low miles 4.6l DOHC Cobra motor, trans, rear and brakes in a very clean basic build within my budget. Lightweight all aluminum factory cobra motor with factory cobra power steering and factory equipped, big, power cobra 4wheel disc brakes with ABS! I couldn't believe it at first. Cobra everything in a cobra. Perfect blend of modern reliable and powerful technology with the classic lines of my dream car.
May not be for you, heck may not be for anyone else, but it met all my goals that I had established, and it was within my budget.
If you have a spouse or significant other, include them in the plan!!! I have seen many cobras for sale in various stages of build from unopened to complete due to cobra related divorce syndrome.
Make a plan. Identify your goals. Stick to your budget. Allow room to upgrade. Read the forums to learn as much as you can. THEN decide to build or buy.
Good luck with whatever you decide.
Here is the
COBRA I purchased.