I gotta go against everyone here DON'T GET AN ACOUSTIC, NO WAY!!!

Just kidding, everyone's given you all the pointers you need. Get a cheap one to start. You might not like playing 2 months from now.
You need something to build up your strength, and something to learn some discipline on. An Acoustic will do this nicely! Someone said something about picking up 'dirty' habits, I couldnt agree more!
I bought my first cheap acoustic for $50 when I was 10. I bought my 2nd Guitar which was electric a year later(A cheap Kramer, all I could afford doing a paper route!), then my first Bass, and just kept trading in, and working my way up, until I was 18, (in 1991).
I then bought one of the first Mexican-Made '50's reissue strats. It was a great guitar for the money. I wheeled and dealed at the local music store and got it for $200. I still have my Mexican Jazz-Bass I bought in '94, I've beat the crap out of it, smashed on stage a few times, and just keep putting it back together! Not too bad for $225 (I don't know what they go for now). I wouldn't do that to my 'Cheap' Specter bass though!
Honestly someone else besides me could tell you what a new guitar goes for, I haven't shopped in 6 years. I found my babies ('73 Tele Deluxe, '71 Gibson Sonex-XR1 '95 Gibson Les-Paul Special w/REAL P-90's, and a '73 Les-Paul Deluxe w/PAF's added sometime) , and i'm perfectly happy with them, and would never dream of selling them!
Good Luck!
