The Gers are closing in on promotion and Warburton wants to challenge for the title right away.
The Gers will clinch promotion to the Premiership with a win against Dumbarton on Tuesday and Warburton is keen to add players capable of an immediate push for the title.
However, the 53-year-old is not expecting that to happen on a budget and says if the club has to spend money, it will.
But while rivals Celtic have been successful in bringing in cheap players from overseas and selling them on for profit, Warburton suggests his focus is on those who can come and do a job immediately.
“Certain players take a lot of time to adapt and then become magnificent buys, but you have to give them that time,” he told the Telegraph.
“I don’t think in the first year back in the Premiership we are going to have that time. If we sign five players and two take six months to settle in then we have a problem, but we have to go for quality players as well. If we have to spend the money, we have to spend the money.
“The board haven’t said no. Far from it. They have been really supportive, but there’s no point in saying we are going to get four players on low wages and expect to go and match Celtic. It’s not going to happen but we have to try and use the money as best we can.”
Celtic made stars out of Victor Wanyama, Virgil van Dijk and Ki Sung-yueng, selling them on to English Premier League clubs for a combined profit of £26 million.
And Rangers already appear to be steering clear of that approach, having secured the free-transfer signings of Accrington Stanley pair Matt Crooks and Josh Windass ahead of next season.
The Gers face Celtic in the Scottish Cup semi-final a week on Saturday.