I hand raise birds as part of my job so I feel I would be confident raising my own. I am currently raising my 2 week old lovebird and am in contact with a grey breeder who will allow me to rear my own chick.
I do not do this to save money but because when I got Datsun she was not fully weaned and I did not have a clue! She has terrible barring and feather discolouration on her wings because of this, I was not well informed when we got her (partly my fault, partly the place I got her) She is a very light eater and I fear if I had not figured it out she may have starved to death.
I think that if you are in touch with a breeder who you trust to really hand RAISE (by this I mean spending time with the bird not only to feed it but to cuddle and socialise) then take your baby home when THEY feel comfortable with them leaving, eating on their own.... everyone who has ever handraised will understand that this varies dramatically between individual birds.
So many things can go wrong even if you are experienced. I have lost a lorikeet chick and although I was not at fault (bird was sick to start with) I still feel responsible and I get really over protective and paranoid (I know Mikaela gets that

)
I love the early morn and late night feedings but its not for everyone. Do whatever you feel comfortable with but remember as Melika said not many breeders will let you take their babies early. I would let them do it if you can go visit and see the facilities and ask them questions so you know your baby will be safe and heathy. Also keeping in contact with the breeder throughout the rearing process and getting photos, updates and maybe occasionally visiting can be really valuable and helps to pass the time easier.