[Ivan Helmrich]

I'm going to agree with the suggestions above about waiting if possible and spending on hand tools first. Look into a set of transfer punches. They can be had cheap and greatly improve precision when locating holes.

We have found that we only need 3 or 4 sizes of wrenches. The size that fits 1/4-20 nuts is the most useful. We have 6 of them.

It's hard to overstate the value of a cordless drill or two however. As much as I love quality tools, my advice is to buy a value brand from one of the big box home centers. The blue ones are a really good value. If they are used only 6 weeks a year or so, you'll get a lot of years out of them. Buy multiples of 1/8" and 9/32" drill bits. The 1/8" make good pilot drills and are a useful size for pop rivets.

If you are absolutely dying to spend on stationary tools, a bench drill press and 10 inch band saw are good places to start. We also get a lot of use out of a 1x30 belt sander.

Finally, if you've got the time, an "internet classified add site" might be your friend.

Ivan