this is a question for the acoustics forum. i can guess at what they will say:
use a lot of mass. there is no substitute for mass. that means layers of drywall, mass loaded vinyl, etc.
use roxul or the other brand they recommend that i don't remember. owens corning 703 apparently changed their formula and is not as good as it used to be.
something like this might work:
outer wall: three 1/2" drywall slabs, for 1.5" total thickness. drywall (at least in the united states) is incredibly inexpensive. use two 1/2" drywall layers if you can't afford three.
inside that wall: line it with mass-loaded vinyl. this will add hundreds of dollars to the cost, so you might have to skip this on a budget.
inside walls: 3" thick of roxul on all walls and the ceiling. if you needed to do a lot of bass trapping, even thicker roxul would be recommended. but it is for voices, and the cheap and readily available stuff at home depot is 3" thickness.
cover the roxul with guilford of maine cloth. if that's too expensive, select something cheaper.
floor: carpet with padding underneath.
float the floor. get auralex u-boats to do that.
that might be an acoustics forum-approved solution. they are very fussy over there! it might not be "acoustically correct", but it's in the direction of the problem you are trying to solve.
ventilation is going to be a real consideration. unless you are building something you can't be in for more than ten minutes at a time, you are going to need ventilation. getting quiet ventilation that also excludes sound well is very difficult. the whisperroom products do a quality job of it. but once you open sound to the outside, sound can get in. quality ventilation increases the difficulty by 4x. the door is also an area of difficulty. it's going to be the most mass-light part of the walls by far. heavy industrial doors cost a lot of money. you can build your own thick door, but getting an airtight seal is going to be difficult. if you could get a lighter, less-costly industrial door with an airtight seal, and then bulk up the inside of it with roxul and drywall, that might work.