The cheapest I would go on an electric guitar would be a fender squire in the $250 to $350 range. There are some decent guitars to be had there.
But in all honesty you're better off buying a used PRS SE, which are much better guitars for as little as $400 or less, used.
As far as amps go, the fender LT 25 is under $200 new and can make some pretty decent sounds from country, blues, R&B, 70s rock, all the way to the darkest death metal, they are great little practice amps, that get pretty damn loud. Plenty loud for most home needs. Unless you're like me, and like to dime 100+ watt high gain metal amps and Deluxe Reverb amps at ear bleeding levels. I'm all about the feel you get from a powerfull Dime'd out amp, its good $h!t man!!!
My moto is if you can't play good, play f'ing LOUDLY!!!
Hey, I'm already deaf from years of shooting critters, clays, long guns, and action pistol shooting.
Straight up no joke, if you're just getting started, and still have your hearing, invest in a good pair if musicians noise filtering ear buds.To protect your hearing, because being deaf sucks donkey balls .
A decent acoustic starter guitar would be a Yamaha, or Guild, they sound pretty damn good. Just know that you will need to have it set up, which cost $50 to $70 depending on where you go. If you don't get them set up for a beginner, most inexpensive guitars are almost unplayable. And when you're beginning that can make you want yo quit more than anything.
Trust me, "get whatever you buy set up for a beginner".
I wish I would've done so, I struggled with making some chords for almost a year, until I got my Martin set up for a beginner.
I was making the chords that I struggled with for almost a yr, within hours after getting the setup done . Just do it, I know for a fact that someone within minutes of your house can help you with the set up .
If you're handy you can get by with doing most of the setup yourself.
By a set up kit from Music Nomad, and watch their YouTube videos, it's really easy, and you will make a huge difference in the playablity of your new guitars.
Most important, don't buy anything that doesn't sound good to the players ear, or they won't want to play it. Every guitar sounds different, even the same make and model. So go through a few of them, and pick the one that sounds best to you, this is very important!!!!
I spent a lot of money on my first accustic guitar, a Martin D10 E, and I rarely play it because I don't like how it sounds. My next accustic guitar is going to be either a high end Gibson Humingbird or a Taylor.
Both sound amazing to me. Im just waiting to find one that sounds stand out to my ears. I play both weekly at my local Guitar Center, I'll know when I find the right guitar, and buy it on the spot, regardless of the price .
Hey you only live once, and life is to short to play crappy guitars, and amps!!!
They don't have to be expensive, they just have to have the sound you're looking for,and a little mojo, that makes you want to play them.
Good luck, let me know if I can help in your search.
Dan.