Bad idea?

I did that with Analysis Plus cables and had the company do retermination. I'm selling them now for much less than 1k if you're interested, DM me.

I wouldn’t fiddle around with DIY or anything like that.  There’s just too many absolutely phenomenal speaker cables out there on the used market, in your price range, that would perfectly fit your needs.  Do the research, figure out what you like, then find a nice pair of pre-owned speaker cables on one of the used high-end audio websites.  Purchasing used can get you way more cable for the money.  I’ve been doing it that way for over 25 years with great success, and it has saved me a ton of money in the process.  Happy listening.   

yes, it's a good idea

I would take the advice of others here and buy a kit and build your own cables.

Or buy the cables that @hilde45 has offered, Analysis Plus cables are top shelf stuff. I use their interconnects on one of my systems. I prefer ribbon speaker cable.

Another vote for Blue Jean Cables, and I have done this very thing (cutting in two) on several occasions and reterminating cables myself with banana plugs.  Not hard at all.