If you have serious NTT (need to tinker), as I do, then a kit project or a parts bass is just the thing. Personally, I started with two decent necks and made two bodies from pine 2x4s. Yes - pine. They play fine and I'm very happy.
And yes - the finishing can be a real chore, but it doesn't have to be. On my first one, I just built a small spray booth in the garage (think scrap pvc pipe tie-wrapped to a shelf and some plastic sheeting. Then a can of Hammered look spray paint. Put 2-3 coats on THICK and you're done. Is it commercial quality, no. Does it look good from more than 2 feet away, yes.