This is a very common question and there is no easy answer to that. You know your budget; you know how much funds are available to you. Just keep this in mind that, your website in this day and age is the face of your business, it should represent what your company is about. If you are a company that sells based on price, then you shouldn't have a high end looking website. If on the other hand you want to project an image of high end, high quality, then you better spend and make a really good website.
Now what does that mean? Spend what? Spend how much? Well, a really good high end high quality website, if it is just an informational website would cost you between $2,000 and $4,000 because there is a lot of work that goes into the design part of it. To a casual observer it may not be that clear but those who are looking for quality they will understand, appreciate and respect your business accordingly.
If it is an e-commerce site, or it has very specific functionalities and you want to project a high quality image with all kinds of options and user interfaces that are geared to make life easy and comfortable for the client or customer then budget $5,000 to $10,000.
Now on the other hand if you just want to throw up a basic website to announce your new book keeping service for the small business owner, you can get a website set up for $500 to $1,000 to $1,500 range.
Some people expect, in part this is because they don’t know, they come up and advertise in freelancing portals 'Make me a quality site and I will pay you $40'. It does not work that way. People sometimes have heard that if you outsource something, they are cheap. Yes but not that cheap.
Compared to what you pay in your local city, yesis significantly cheaper, probably one third or a quarter of the price you would pay locally- but not free. If a locally developed project costs $40,000 to $45,000, will bring down the cost to $10,000 to $15,000.
Be realistic and if you are not sure talk to people, understand and just take a little time and then go venture out with a small project. Over time you will get the hang of it.