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If you at all have the tools available, I'd build one. I also have never worked w/ wood, but am almost finished building my first one w/ no current flaws. You just have to plan carefully and go slow.
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I agree. We did that (without legs, but we'll be putting some on soon for just a bit more money) for less than $200 and it is 10 times better than anything you can buy for that price range.