Shop around before committing. There is a local band who I'm acquaintances with who are doing an Indiegogo to raise $5000 to record their album and release it on CD. Seriously, $5000?! This is what makes me hate crowdsourcing. Their perks are crappy and they don't even give an itemized list on why they need $5000. It's 2014, you don't need $5000 to record and album and release it on CD.
We spent less than $1250 to record mix and master Filaments. I dare anyone to say the audio production on that isn't top notch. Sure, we were in the know and friends with the guys we worked with, but they still charged us fairly competitive rates. You just gotta figure out what your budget is and then work within that.
I really liked that we were able to work out a flat rate. When I asked John how much he'd charge us to mix and master, he asked how much we could spend. I told him about a grand. He goes ok that's cool, I'll do it. Granted he's more of a DIY guy, who doesn't have a studio and really just has a collection of mics, an audio interface, and a laptop. But we worked our connections and managed to borrow some spaces a few times to record in, and came in within our budget with a fantastic sounding album.