Stick to pots with soil, don't do DWC, particularly if you are not experienced. It will be easier for you to manage and will help keep you gardening simple, a lot less checking of pH, PPM and any other parameters that can cause a DWC system to go out of whack. Also you should be sizing the space to the low point, not the high point of your ceiling. Because if your low point is only 1 meter the lights there can only move up that high and you will have limited space below them to grow out plants. If you were allowing for the extra 70 cm then your plants will likely grow right into your lights. I would suggest, since you are on a budget, base your garden around a single light rather than having multiple lights required for the length of your space. If you make the area more like 2m x 1m you will need less pots, less soil, less light and this will keep your cost down. You can expand in the future, but for now limiting yourself would be the most practical option.
The other major factor to consider here, and often the one I find costs the most, how are you planning on doing air exchange? This is an absolutely critical piece to a successful grow.