Welcome to Canreef
You can definitely start an aquarium on a budget, especially if you're willing to do regular water changes (in lieu of a skimmer), etc. The large refugium will help, too.
I don't use sandbeds or know anything about fluorescent bulbs so much, so I can't help with those questions. Regarding the pump, you might consider the Hydor Seltz line. They're fairly inexpensive, as pumps go, and they're dead quiet (and reliable). A diamond-coated hole saw bit is really cheap to order online...but I guess that's not an option for you. They vary in prices at the different stores (Home Depot and Rona will sell them for around $60/ea. which is really expensive, but I know people have gotten them at Princess Auto for much cheaper). Your other option is to borrow one, or see if someone local can help with the drilling.
Good luck