You should totally do it! It's a fairly cheap country to travel in. I think we averaged $30/night for accommodations when we went last year, though I did cheap out somewhat by mostly booking private rooms in guest houses/hostels. My spouse was less than amused by our place in Cusco that had live wires in the shower, though 😂

Food is amazing. People were super friendly. The history was fascinating. And the scenery is absolutely unreal. They literally have it all.