I heard advice from Adam Savage on the topic of cost-vs-quality that I've found to be quite useful. It was something along the lines of:

When you're first getting into a new craft/hobby and need a specific tool, get the cheapest one you can buy. When you're first starting out, you probably don't really know how to judge quality, and you don't have a good sense for what features/enhancements you actually need (not to mention, you may or may not know you're actually going to stick with the hobby at all).

By the time that first cheap one breaks, or you gain some experience/skill and hit your frustration limit with it, you'll have a much better understanding of what you want out of the tool and will be better position to pick out the "best" version to suit your needs.