I was looking for bargains at the local Gander Mountain and my eye was first attracted to a Remington 540x target rifle- maybe finest and most accurate .22s ever made in this country. They were asking $450, which made it a bargain, too. Unfortunately when I got closer I could see that it was missing the rear sight and the barrel was covered in rust- which meant I don't think I would have paid over $200 for it, if that.
But nearby was a like-new Ruger 10/22 with a Simmons 4X32 22 Mag scope, and with the store-wide 10% off sale I could buy it for $208, which is about 40% off the usual package sale price. I bought it and immediately put the scope up for sale- if I can net $30 from that my cost goes down to $178, which is a good starting point. I have two scopes I might use- a BSA Sweet .22 3-9X40mm with target turrets, and an older BSA 6-24X40mm with a shade. Either will do for now.
Next step was to look for a stock and barrel. I thought about doing a wood stock, which can be fun, but a synthetic stock is probably more dimensionally stable and easier to bed, so that's the way I went. I found a deal on a brand new Hogue Overmolded stock in olive drab for $49 plus shipping on eBay:
I also have to decide on barrel length. Longer barrels give you a bit more velocity, and are a little quieter, as the propellant gas has more room to expand and cool. Shorter barrels are theoretically more accurate, as the bullet leaves the barrel faster, so there's less time for the shooter to move and upset the flight. High end target rifles use short barrels, sometimes with an extended "bloop tube" to provide an extended aiming radius. The Anschutz match rifles generally have a rifled length of 420mm, or just over 16-1/2", and I think that's the direction I'm going to go.
(Part II here)
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