Prepare for the cost of owning a cockatiel. The average cost of a cockatiel is only $80-100, but the start-up costs for its cage, food and equipment can easily reach $300.Also remember that the cockatiel will need food and toys, and at least one veterinary exam per year.urchase a cage and equipment for your cockatiel. Cockatiels need a lot of room to exercise, so you want the biggest cage you can accommodate. The minimum recommended cage size for a single cockatiel is 24 x 24 x 24.