Serial connections will only cost you a Raspberry Pi (there's probably some really cheap console servers on eBay too).

I don't think the issue is so much cost but more this kind of systems administration is becoming a forgotten art because 99% of the time modern tooling removes the need for it. So younger sysadmins are never taught how to do these kinds things. However when I started out, I worked in a few small companies that had their physical hosts connected to a console server (which was a Cisco device like a network switch) via serial cables and you'd then connect to that console server remotely.