I have a Savage 11/111 short action and factory barrel.
Is it worth having the factory action trued or sell it and buy a custom action ?
Also i may as well swap the barrel. Do i get one that is install ready or get a barrel blank ?
What will be a good barrel to go with im looking for a heavy contour.

Depends on how far you want to take things. For my money, it's only a couple hundred bucks to have northland fully set your savage action up so it's totally worth doing compared to the cost of a Defiance or Surgeon action. It'll make all the machining done on your barrel and recoil lug and such work together that much better. My best savage target rifle is the one with the truing done to it.

For barrels, I install my own mostly and typically start with a pre-fit. It's trivial to do. I get most of my rifle barrels from Black Hole Weaponry as drop-in's that are pre-chambered and pre-threaded. For those rifles that I'm going to campaign in state and national level matches then I will order a barrel blank and have my gunsmith chamber, thread and install it. It's only a couple hundred bucks to have a barrel cut and installed.

If you want an aftermarket action have one. I would, will eventually. They start out more precision machined so there's less to do to it but that's not to say you couldn't make something equal in capability with a savage or remmy action.

I agree. Since you already have the action, just get it trued etc. you would still be way under the cost of getting a custom not to mention sell your take off barrel on ebay and use towards new barrel.

The cost of truing a factory action can easily approach the cost of a custom action, and the value stays about the same.

The factory barrel is worth almost nothing. ''Tomato Stake" is the common term. If someone is replacing a barrel, they want a custom barrel.

If all you're doing is lapping the lugs, then it's worth it on a factory action.

For a full-on truing job, seriously consider starting with a custom action.

ETA:
Savage actions are easy to rebarrel since they use a barrel nut vs. a shoulder that seats on the action. You can get one pre-chambered and pre-threaded and install yourself using a set of chamber gauges.
There is no meticulous barrel fitting that needs to be done by a gunsmith.

The bolt also uses a floating design that makes it easier to make accurate out-of-the-box factory rifles.