Hi, I plan to visit Budapest for the 1st time and would like to know whether there is any cheap recommendations for lodging (about 30 tp 4 0Euros for a double room?)Is it better to stay at Buda or Pest? Also, what is a good itinerary for a 3-days stay? You can choose to answer any of the questions above. Appreciate your advice.

Hi,
We returned from Budapest last week. It won't matter what side you stay on. Both have advantages and the transportation is easy to use.
We stayed at the Art Otel and booked it through Priceline for a very good rate.
It was a great little hotel.

As for the other part of your question; it would depend on what you like to do.
We enjoyed the baths, the opera and doing the site seeing. That took up our entire 4 days and we're already planning on our next trip. It's a great city.

Hey, thanks for the info! How much did you pay for the hotel? Also, is it in Buda or Pest?

On your itinerary question.
We were there in April, and my trip report is posted here. (If you click on my name above this post you can find it quickly.)
We had two and a half days and took a city bus tour for an overview. There are lots of choices, including many people with private cars that give tours. The city is pretty spread out, so you probably should read up and decide in advance what you want to see. Definitely the Castle Hill on the Buda side is worth a day. Medieval houses, Baroque palaces (rebuilt after being bombed in WWII), loads of different kinds of museums, great cafes. You can spend half a day just walking down Vaci Utca the pedestrian shopping street. We didn't get all the way to the Market, but it is highly recommended. Look at www.hungarytoursim.hu and make your wish list.
Vera