I have been on the BikeForums for quite awhile, but recently purchased an ActionBent recumbent for less than $800. I mention this as an alternative to a homebuilt.
www.actionbent.com is the weblink, but some explanation is inportant. The ActionBents are strictly an import from taiwan, which is ok because many big name bikes are made there. Because it is an import operation only, and purchased through ebay or his website only, you must either be able to build up your bike from parts, or have a bike shop do this for you.
I received my Tidal Wave II in the box, much like a bikeshop would receive a bike...in parts. It took me an evening to build, and another evening to get all the adjustments where I wanted them. I am very happy with the purchase and could not have afforded to buy the higher end bents. Because actionbents is an importer only, you have no distribution, dealer, or build-up costs...just your time. I like this bike much better than the EZ models, (more reclined) and it is a well built bike with good components for a minimal investment.