I've got the Tele. I Love it. But I often wish I had the Strat also.
The Telecaster has such a distinct sound. Think Radiohead - Pete Yorn - etc.
Sometimes I just prefer the sound of the Strat though. Plus you get the wah-wah bar on the Strat.
They also have a very different body composition. Tele is thicker and more boxy. Strat is rounded, seems thinner, yet denser.
Best bet is to go to a store and play a few. Even if you don't know anything about guitars. You'll like the way one sounds and feels best.
I agree that you should not cheap out. If you go cheap - you'll regret it almost immediately.
I may be totally wrong here, but I believe the guys steered me away from the Mexican made Fenders when I purchased. Said they were very inferior - albeit much less expensive.
I paid about $750 for mine:
American Musical Supply