I did it last winter, I spent about $30-35k if you count equipment I already had. The all season long it seemed I needed more and more so I spent another $5000 during the season. Now in winter I am looking at growing pains and could spend another $12,000 if I had it. I wouls say done on the cheap you could do it as cheap as $5000 and ski is the limit on the high end.
FEC 120, Lang 84, Custom Off Set