I'm currently riding a Schwinn Deluxe Varsity, but I want to get a lighter frame. I want to build up the frame with brand new parts. My frame budget is around $120. I ride a 53 cm frame. I want to know what model of frame would you recommend for me? Also where would I buy the frame at?

Don't look for a particular model, look for a particular quality. Keep an eye out locally, depending where you live, you should be able to find something pretty decent.

As always, a complete bike is the better deal, even if you want to replace everything. With a complete bike, as a minimum, you can sell off the unneeded parts, and you may just find a need for some of them.

+1 and if you happen to see a centurion ironman on craigslist snatch it up!

I saw a nice 80's Trek on CL, but it sold instantly.

Beat me to it...

Well, if you want a smokin hot deal, on a public sales forum like CL, you have to move really, really fast. The exception is the crappy ad, with minimal to no details, and a clueless seller who is unable to answer basic questions. Such a seller typically treats all potential buyers that way. So by jumping in your car and checking it out, sometimes you can get a deal (other times, you just waste gas).

The classic for me was the seller, where the only thing he could tell me is that the bike was "blue". No brand, no size, no type, no nothing. Finally went to see it just for curiosity sake (50 miles one way). Turned out to be one of my best deals.

Word of mouth is where the best deals typically are (no competition).

If you have a $120 budget for a frame what is your budget for building it?

I am sure with a little hunting you can find a decent quality bike that you can then customize as you want it.

Since a Varsity weighs approximately 44 pounds, complete, which is a pound more than a relatively low-tech 1980s entry-level Santana tandem weighs, the good news is that just about everything else will be lighter than a Varsity frameset.

I would agree with much of the good advice already posted here, and also say that a complete bike might be your best bet. If you are budgeting perhaps $250-350 for the entire bike, there are often quite a few good buys in that price range. Make sure that whatever you do, you get a bike that fits you properly. Proper fit is about 80% of the battle, so to speak....

Well I was going to put in around $230 to parts.

I think for 350 your better off finding a complete 'fixer upper' and then overhauling it rather a complete build, especially if your mechanical experience is limited. that will keep you from making common newbee mistakes like incorrect brake reach and wrong BB threading.

There are lots of here who spend way too much of our employers time looking for good deals on used bikes. if we knew about where you live somone may be able to point you to a good deal. Or even better maybe someone has one of the 15+ bikes waiting for rework they would make a good deal on.

+1 at $350 find a complete bike. You won't be able to build anything near as nice by separating your purchases between frame and components. All the little bits on the bike really add up if you go from scratch. For $350 you should be able to find a really nice bike with the features you want. With that budget it mind, I'd focus more on listing out what you want, arriving at a short list of models; so as to spring on whatever seems closest over the next few weeks (and keep your cash in hand).

If I couldn't troll CL while at work, I'm not sure I could make it through the day... One of my nightmare scenarios is where my boss makes me choose between CL and caffeine...