I reckon if your game to have a crack at it, you should... (are you talkin about engine rebuilds or full resto on car?)
I will point out, if you are doing any of it without assistance from someone who's doen it before, you almost definantly will make a few mistakes,,, or you could say "plant the seeds for a few lessons"..
If you're prepared to make a couple mistakes the first time, rebuilding engines (or whole cars) is very rewarding. Just don't be put off when ("if" I should say) anything doesn't go according to plan.
Too many people quit when something goes wrong and never come back to it. If you can stick it out thru the first rebuild or two,, you will not only save yourself a lot of money, but have the pride of being able to say its
your car and not your engine builders, panel beaters, spray painters, motor trimmers etc.
To give you an idea on the cash you can save... I will do a whole car, bare metal respray, trim, suspension, brakes, engine, gearbox, electricals and I will get change out of $10,000 and have a car that people will comment on. Others who out source everything are typically looking at $25,000 to $30,000 for the same quality job.
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***BUT*** be realistic too. Make sure that you have the time and the funds to follow thru with your project. Otherwise, pay someone else to do it for you so that it does get done....
My 2 cents
