There are a pretty vast array of 3D Printers out there these days, with varying strengths/weaknesses on each. Plenty are very cost effective, but many that have a low cost are either kit printers (meaning you get a kit of parts and build it yourself), or lower end "enthusiast" printers which are pre-built (these at least come pre-built, but are targeted to the hobbyist/enthusiast so it may require more tinkering/fiddling to get it just right).
Also depends what you mean cost effective. Many very high quality printers can be had in the $1500 - $3000 USD range.
A great resource for investigating what printers are out there, and how they are rated is via 3D Hubs. They maintain one of the largest database of all 3D Printers out there, and have extensive comparisons using objective metrics of all printers. They keep a comparison page, and even have a "best of" each quarter usually.
You can see breakdowns of things like ease of use, reliability, cost, and so on on each printer. And they are broken up by categories such as kit printers, enthusiast printers, and "Plug and Play" (which means it comes fully assembled, works with minimal tweaking, and typically has a robust warranty).
Keep in mind 3D Printing is still a relatively new industry, and actually using a 3D printer does have some learning curve (though the community is huge, and there is tons of useful info out there). As a result, getting "good quality" results sometimes takes a bit of learning first, so if you do go out and buy one, and your first prints aren't mind-blowing, be ready to stick with it, go ask for help, and get suggestions for ways to improve your technique. In that way it's much like this hobby/community

lol.
Anyway here is the link to the printer recommendations/reviews on 3D Hubs:
https://www.3dhubs.com/best-3d-printer-guide
And here is the ENTIRE list of printers (sorted by overall rating in each category):
https://www.3dhubs.com/3d-printers
And of course if you have specific questions, or need further help, I'm happy to do what I can so don't hesitate to ask me
