Bang for the buck electric guitar  

Line6 do a good range of modeling guitars called the Variax, you can make the one guitar sound like many famous brand guitars, even acoustics, You can check them out at...

www.line6.com

I'm a Fender freak, but the fact is that guitars vary. A trustworthy guitar is the Telecaster or similar styles, simple pick up, good maple neck, good action.

Old style Gibson F clef hole guitars and those of that design are generally good, and can be played semi acoustically, too.

Price is misleading. You can buy a world famous heap of junk. Whatever it is, check it out first.

Depends on which style or genre you are in to, variax does give you tons of sounds but it's also expensive, Strats are suitable for several styles and cost much less. But since you're in the philippines, check out RJ guitars, great looks, feel, quality bodies and necks, really cheap. But if you dont like the sound, just replace the pickups.

I would have to say a squier strat. They are sold body and cost about three hundred. The sound is great. My favorite electric guitar is the signature ibanez. I prefer playing acoustic the most though.

Have a good day.