Going wholesale generator prep takes a lot of effort and money. Never gone quite that far. I did have a major outage in, I think, 1998. Ice storm was bigger in Canada than where I live in Massachusetts although still ended up with power being out for multiple days.
I'd say the cost highly depends on what you put into it. 2-pole breaker ($30), OFBRND transfer lockout ($20), 20ft of NM-B for inlet right next to service entrance ($35), OFBRND inlet and extension cord ($100). Then a small synchronous generator $250? So that's <$500 total? Of course you'll find yourself saying I want a bigger generator, I want non-OFFBRAND electrics, I want this other extra, and the total cost creeps up.
