It’s possible to get a good recording for somewhere between $200.00 to $500.00, perhaps using some pre-recorded tracks created for you by a beat and loop maker. If you sing and play all the instruments, you could get it done for less. There’s more to releasing music than just recording, though. Consider you will likely need a music video, artwork, and some marketing in order to get traction with music executives and fans. A fully outfitted recording studio together with a sound engineer will run (on the low side) around $500.00 a day, but you might save money if you just need it for a few hours.
Recording a song or songs is a project, with a beginning, middle and end, as explained in this article. Most artists or songwriters will go into a recording project with a group of songs, not just one. This way they can keep only the songs that turned out well, and it’s more economical than recording just a single song. If you are using your own DAW, microphone, and peripherals, it might cost very little to record your song at home. You might also be able to access recording equipment through your school or at a local community organization that provides such services.