If you're looking for cost/performance balance, an old PC with fast drives. The low end NAS boxes are Atom or Arm based, and poorly performing.
If its a pure file server, you just need to install NFS and/or Samba as appropriate. Very flexible, but not point & click. If its just Windows, even a Windows PC will do, and natively supports SMB - though mild tuning needed. If you need block level sharing, rather than file sharing, that's a different discussion. But fast/free under Linux (but needs Windows Server if you want to use Windows)
The likes of FreeNAS tend to perform badly. Partly because its poorly done, and in FreeNAS's case is its use of ZFS - if you go ZFS, be it BSD or Solaris, the ZIL MUST be on SSD.
Hardware wise, if multiple simultaneous clients, go raid10, not raid5. If using those consumer fakeraid systems built onto motherboards, avoid raid5 all together - TBH the OS's own raid often outperforms them.
Given 1TB consumer SSDs are hovering around the £100 mark, all flash running JBOD is viable and fast, but definitely needs a robust backup (as does anything).
There are some semi server grade systems around for good money - HP were flogging their gen8 variant of Microserver for under a ton. Add some drives and a proper raid card (p410 about £10 of egay - get one with the battery/cap backup though) and would make the basis of a great home nas *IF* 3 drives are enough. Sadly the new HPE Microservers are expensive and shite. 3 or 4 years ago, OOF (and everything else here) ran off shared storage provided by a (then new) £90 HP ML10v2 with a P410 raid card. I'd argue it was faster than the super dooper hyperconverged storage now used, though less tolerant of glitches/outages and patching.