I was thinking about building a replica of Peter Wells (from Rose Tattoo) Telecaster. The guitar was used during the 1980s. It looks sweet and simple.
I want to know how should I approach this build. Should I build the body myself or order a body from somewhere? I haven't built a guitar from scratch yet so im not sure how would routing out the body would go.
The body is going to need a routing for a P-90 pickup in the bridge.
Which soapbar pickups are fairly cheap and the most reliable?
Here is the guitat in use - http://www.youtube.com/watch?v=-ZZnhBQXRaI

So this is what I want it to look like.

You should totally get DeVries to build it for you...

In all seriousness, your approach should be determined by your confidence. How good are you with woodworking in general, guitar-related or not?
Well, building a guitar from scratch, especially the first one, will take a lot of time and likely cost more than buying one from Warmoth/eBay.

If you are serious about wanting to build one I recommend buying a book like Melvyn Hiscock's. The routing of the body isn't the hardest part really. Just expect nothing and do some proper research when you start building.
Okay thanks
Well I have to start somewhere so ill do my reasearch for this paricular design.
Any really good book that you would recommend?
The cost, estimate on how much it would cost all up (Australian dollars)?
The 2 books that I have used and that covered around 95% of the process are:
*Martin Koch - Building Electric Guitars
*Melvyn Hiscock - Make your own electric guitar

Both can be found on Amazon/eBay and are worth their weight in wood. One thing that isn't covered all that much are templates. I highly recommend getting one, since it makes building a lot easier. One example:

As for costs, well... The neck is the most consuming and difficult thing to build. You might consider buying a neck from a shop. Do note that standard strat necks do not fit a standard tele body (rounded <-> square), so you need make sure you rout the neck pocket differently.
If you just want a body you should keep in mind:
*Do you have a router? If not: $50-100 USD
*Do you have (ball bearing) router bit? If not: $15-50 USD, though a $15 will do if you just plan to do 1 body
*Do you have good sanding paper? If not: $10 USD.
*Do you have an extra long drill bit (usually 6mm for the electronic cavities)? I don't see a pick guard, so I expect you'll do a LP kinda electronics cavity which needs the 6mm holes. If not: $10 USD.
-Wood: $50 USD
-Templates: $100 USD (you can also do this by hand, but templates are SO much easier).
-Paint: $20 USD.
-Finishing: $20 USD (e.g. cellulose).

So total $90-$275 if you have some basic tools like clamps, tape, etc.

If you got all that covered you'll need to look into stuff like bridges, knobs, pick ups etc.

If you need any more hints/tips feel free to PM me.