Building your own homebuilt, experimental aircraft means dedicating a huge amount of time, perseverance and resources into your aircraft project. Do not think that this can be done without too much trouble, it will not. It will take a lot of effort, time and dedication to finish.
But when your aircraft is finished and knowing that you are the one that has built this with your own two hands, the smoking start of the engine running for the first time, initial taxi and test runs and then the exiting first flight before flying off between the clouds into the sunset…makes it really all worth your while!
We will discuss items like purchase cost, avionics, tools and an aircraft insurance. Eventually you will want to buy an engine and a choice needs to be made on which type: AVgas or diesel and the power rating you wish.
More power usually translates into a heavier engine and higher fuel flow so that long range tanks might then be an option for you. Keep in mind that useful load will suffer.
Realise that there is no such thing as the best experimental aircraft. It has to do with your expectation of aircraft looks, payload, engine, flying range and all of that. Its quite personal.
Also known as amateur built aircraft, homebuilt aircraft are constructed by persons for whom this is not a professional activity. This is not to say that these builders do not build their aircraft professionally, they absolutely do and create a beautiful piece of work.
In generic use, an experimental aircraft is an aircraft that has not yet been fully proven in flight. Often, this implies that new aerospace technologies are being tested on the aircraft, though the label is more broad. Experimental aircraft is also a specific term referring to an aircraft flown with an experimental category airworthiness certificate (also issued for homebuilt aircraft).
The term experimental aircraft is often mistakenly used to mean homebuilt aircraft. While all homebuilt aircraft are experimental, there are many types of experimental aircraft that are not home or amateur built, e.g. the spaceshuttle.