Which is easier to do with starting at a stock 5.0 in my 95 and what would be the cost

And would it make 550hp or more without going crazy with building the motor

 

I know of 3 people blowing up their old 5.0 by adding too much boost, so be careful with that. I think all 3 had something to do with the heads as well. The one that I saw pictures of had a hole in the cylinder heads between 2 cylinders that looked like someone took a dremel to it.
None of those motors were close to 550hp. If you want to go that high do a coyote swap with a supercharger and you will make that much or more without any issues.

But to answer your question I think a supercharger would be easier to do, but I dont know for sure because Ive never had an older 5.0.

 

When you use the words "easy" and "budget", a turbo is OUT, in my opinion. Call UPR at 561.588.6630 if you'd like a quote on an ATI ProCharger. (we sell Hellion Turbos too, but like I said...)

 

Alright so coyote motor for less than $2000 maybe and a recommendation on a transmission that can handle it

Or somewhere I could go to buy a wrecked mustang that has the motor and trans already

 

never mind coyote motors are about as much as three of my car when I bought it

 

I'm sure you can find a wrecked one for cheap, but you will have to look at the local junk yards and probably pull the motor and tranny and electronics yourself. for the tranny the MT-82 will work fine, or you can try and find a T56 Magnum but they are about $3000 brand new.
The downside is that a motor swap isn't a cut and dry thing, it is getting easier with more people doing it, but with your car it will take a fair amount of know how and fabrication to make work properly. Also it would be expensive. If you can find an 05-09 mustang for a good price it will be easier to do a motor swap, but those aren't cheap either.
The cheapest would probably be finding a used supercharger for your current motor, and making sure that it is tuned properly and that the motor is in good working condition. Since you didn't buy it brand new you will want to make sure the motor can handle boost, I don't know what you would want to check, but a performance shop should be able to help.

 

They make 5.0L Kits that come complete with the Engine, PCM, Wire Harness and other supporting systems for things like Kit cars...they are not cheap though.

Motor is 7.5K - 8.5K
Wire Harness and PCM is 1.5K
about 10K not including tranny.

http://www.fordracingpartsdirect.com...6007-a50na.htm

http://www.latemodelrestoration.com/...e-M-6007-A50NA

You can probably get away with a used engine and pulling the PCM and wiring harness yourself but you're probably still into it for $5K by the time you pull it and the wire harness. A junk yard isn't going to let a Mustang 5.0L go for less than 3Kish...