Rhavin, First of all, I wouldn't recommend you doing this if you aren't up to the small mechanix involved. I'm in NO way trying to disrespect you with this but, IF you were a little more mechanically inclined, I'd so go for it. Get a Book on guitar repair and bone up on it for a while, I can't Recommend "Guitar Player Repair Guide" By Dan Erlewine Enough, as it has all the nuts and bolts needed to understand many aspects of the guitar and If you're still game, "Build Your Own Electric Guitar" by Melvyn Hiscock, he walks you thru building 4 complete guitars and it's easy to understand also
Secondly, $225. isn't bad at all to completely repaint your guitar. I think it's very reasonable anyway.