Ummm...home made potions are free. All you have to do is go pick the ingredients...and with a bit of experience, alchemy is the money pit of skyrim.
How do you mean no timers in UI? If you hotkey your potions you can chug them down as fast as you can hit the button.
I'm referring to potions that gives defense and attack boost, the only visual effect they give was the after use, after that I need to monitor my stat around 60 seconds early in the game, I play on Xbox, vanilla version.