My suggestion is for you to run a simple, organic soil-based, system. This will save you money on the initial setup and provide some very nice tasting buds despite the potential for a reduced yield/time comparison to hydroponic methods. I am a big fan of coco and I think that Roots Organic Coco Mix is a good start for most growers. You can even use a bag of Roots Org. and a bag of Fox Farms Ocean Forest (or happy frog) and mix them together for a nice even and diverse spectrum of organics with enough aeration material for drainage.
You need to allot at least $100 for planters, drain pans, and soil. The soil mixes, 1.5 cuft of Roots Organic Coco Mix is ~$18 and 1.5cuft of Fox Farms is ~$14, you can mix up around 40 to 50 liters of media (about 13 gallons plus or minus 1 gallon) and the total cost is around $2.50 per gallon of media.
Lighting systems are most efficient in the 600w range but the densest nugs come from 1000w systems. Can't beat the power, but a 600w system comes very close and by comparison is a good choice. If you are just growing for yourself then a 4x4 tent and a 600w system is all you need. Since a 5x5 tent isn't much more, if any more, expensive and you have space for it then I say go ahead and get it, but keep your plants located in the center of the tent. They sell 5x5 mylar tents on Ebay for $150 and the light security they provide is priceless when it comes to flowering schedules and stress reduction.
With the 5x5 tent this actually gives you the option to grow vertically with the 600w bulb, eliminating the need/cost for a reflector as well as maximizing your energy use. Since you only need a socket and a ballast and an HPS bulb you're looking at about $250 on that lighting system.
For ventilation I suggest a 6" inline exhaust fan and a 6" axial intake fan. If sound is a concern, you'll need a duct muffler, and to control smell you need a carbon filter of appropriate size (400cfm). Total there, with the muffler and the ducting and the clamps, is about $350.
Covering your lighting, ventilation, and grow area, in total is going to cost around $750. The remaining $250 should be put towards an inexpensive organic macro-nutrient system and dedicated to the 25 gallons of media and eight 3 gallon planters you'll need, as well as the odds and ends like scissors and a thermostat/hygrometer. I strongly suggest spending maybe $40 on a good pH meter and another $20 on calibration solution and a pH up/down.
In total I think you should stay well enough under to pick up a rubbermaid or two for storing your water or mixing nutrients, duct tape, or other little BS things that crop up. You could do a bit more with another $200. So try to save like $40 a week for a few weeks and by the time you're in flowering maybe you can beef up your organic nutrient system with some of the appropriate bloom boosters.
If this system sounds like what you are looking to do: No moving parts, hand water, drain-to-waste, organic soil mix. Then just let me know and I'll do some price hunting. I like to use
www.plantlightinghydroponics.com,
www.bghydro.com,
www.hydroasis.com, and
www.igrowhydro.com to compare prices and find the exact stuff I am looking for. Soil, and other heavy items, are very expensive to have shipped so it is better to find a store in your area that carries it. Ace hardware actually carries Fox Farms, and you can always get some compressed coco shipped to you instead of the Roots Organic if you just cannot find the stuff.
I remember starting out. I had about $200 less and I passed on all kinds of stuff I should have purchased. Make sure you get quality equipment and have a battle plan outlined to keep upgrading the tent in a sensible fashion. Controlling the environment is crucial to your final harvest, and in the system I outlined you could expect upwards of 1.5lbs without too much trouble if the 8 plants harvest about 2.6 ounces (75 grams) each. Could be more, could be less, but there abouts is expectable in a vertical 5x5 with a 600w and maybe 40 days of unstressed and vigorous vegetative growth.
Let me know if I can help more.