Expensive is relative. I've got a flashcat XPort ($45) and a variety of clips and adapters. Usually you don't know what you need until you take the unit apart, although most units I've cracked open had a TSOP48 NAND chip.
The seed will be different for each router (that's how they get different passwords) but some times the seeds are easy to guess like
here where the seed is just the number of miliseconds since Jan1, 1970. Then you can just brute force the seed. Other times the seed is just the MD5 hash of the serial number or the mac. You just don't know until you see what the seed is.
But yes, if you know the pattern of the seed you can generate a wordlist.
Hashcat can run through a word list that is INT_MAX (2.1 billion entries) long in about 10 minutes. So if the seed is an integer, than that's not a problem at all.