I love my Warmoth basses, but to feel like you got a good value I think you have to:
- Keep it a long time and ignore the fact that resale value will not be very good, especially if the styling is not well thought out and attractive to almost everybody
- Have a strong desire and personally value certain custom aspects not available on purchased instruments
- Enjoy the process of designing and assembling
- Work patiently so you don't screw it up
- Not expect to save any money vs buying something like a G&L Tribute
You can save some money by doing your own finishing and buying from the showcase. I have mostly ordered custom bodies but usually can find a suitable neck in the showcase.
If you are a person who would do a ton of mods to a factory bass, then it starts to make more sense financially. If you plan to replace bridge, tuners, preamp, pickups, etc then a scratch build can make a lot of sense.
If you want custom, there are other options besides building it yourself. Carvin is one, the Fender American Design Experience is another. Also, if you order G&L USA I think a lot of custom options are available.
Just a few random thoughts.