Rick,
Welcome to the world of scratchbuilding. It's quite a satisfying thing to build a model from a pile of lumber, especially these days when so few even build from kits. To me, building what I fly has always been what makes this a "hobby", as opposed to just playing with remoteo controleo toys. And scratchbuilding is liberating in the sense that you aren't at the mercy of a kit manufacturer- if there are plans available, you can build it. And there are more plans out there than I'll ever be able to build.

As for the time, scratcbuilding really doesn't take that much longer than building from a kit. On the Paragon, for instance, you could cut out all the parts in probably 4 hours max. After that you're back to building from a kit- a kit you made.

I definitely think it's cheaper to scratchbuild than kit build, but as Bruce has pointed out, you will probably wind up overbuying for your first model. Actually, if you can swing it, it's great to "stock" some common sizes of balsa and spruce, so when the urge to build hits you can jump right in. Sometimes when I have a bit of extra cash, I'll buy some wood and stash it away, so that when I have more time to build (meaning: work is slow and money is tight), I don't have to starve the family to buy wood.

If the source you're referring to is Superior Balsa, in Hawaiian Gardens, I can highly recommend them. I've ordered lots of wood from them over the years and it's all been great. I don't have a "LHS" unless 120 miles away qualifies as "local" so I have to mail order my stuff.

I mostly agree with Keith about starting small, but I wouldn't build anything smaller than a 6 footer, since the parts for a hand launch size ship are very small and fragile, and harder to work with. And even though the Paragon is big, it's a fairly simple structure and would be a good first build. Some smaller planes are much harder to build- the Sagitta 600 comes to mind.

Have fun, and be not afraid- it's easier than you think.

Cheers,
Dave