headboards

There is one bed frame out there that j & i both love. we even contemplated getting it when it went on sale for 20% plus free shipping. but it's still really expensive, and although we would have it for life, we want to get into a house first. so..the next alternative is making one ourselves or hacking a craigslist one for less than $100. We figure if we are spending $3-500 on an ikea/west elm bed that we mostly like, but not love, then we should just put the money into savings for the one we do love. i found a few on apartment therapy complete w/how to instructions. I also found some using photography, stencils, old doors, etc. Do you think an actual headboard is necessary? Could you make do with just a stencil or block of paint and no physical wood/cushion?