I'm planning on milling my own strips and I know nothing about routers. Do regular routers allow for extending the bit up through the bottom of a homemade router table, or do I need to buy a plunge router?

Also, how many horsepower do I need to get? I can get a 1 hp plunge router for $39.99 or a 3 hp for $79.99. I probably wouldn't use it much at all except for building this boat, so I'd like to go with the cheaper one if I can.

Thanks.