Develop with end users in mind. Don't develop with domainers in mind. That's a mistake.
If you should develop, plan to spend a good amount of money like 5-10k.
You are not going to compete well if you spend too little on development, and then you need to spend it on advertising as the second step.
Development alone is not enough. It has to be great development, which is going to cost you. But if you develop it and didn't advertise, no one would know you have a jewel of the world. So advertising is as important as development. To keep site alive, I consider paying for content/users, which is not part of development but as part of maintenance, along with freelance developers to fix or change site.
If you don't have a budget plan in mind, don't know what you want to develop, to who (users or domainers), marketing plan, maintainance plan. You should come up with one.