2 small Japanese pull saws, a western push saw, fret saw, set of chisels, bit brace with a roll of arbor bits, rabbet plane, side rabbet (trim) plane, 2 shoulder planes, 3 set of diamond stones, slip stone, multiple files, a rasp or two, 2 small bar clamps, a mini vise, hand scrapers, scratch beader with cutters, combination plane with cutters, smoothing plane, jack plane, block plane, combination square, steel straight rule, 12′ tape measure, small bottle of glue, a few short dowels, 2 marking gauges, and a few different marking instruments (awl, pencils, marking knife).

Lots of good comments! I do think it is a bit of stretch to include a jointer and surface planner on the ‘basics’ list – we’ve got a slippery slope here! And a lot of different approaches – money, space, time, resources, etc. But lets plunge ahead. If you buy your wood already (or mostly) prep’ed, then the jointer & surface planner can be postponed. You definitely need a way to accurately measure linear distances (e.g. length, width) so a good ruler and tape measure. You need to be able to measure squareness – so you need a good combination square. You need to be able to mark the wood – so a good marking knife, an awl, some chalk, a fine pencil, etc. You should have some decent chisels (and good ones don’t need to cost a lot!). You will need to sharpen them (again not expensive – piece of plate glass and some sandpaper). You need a way to accurately cut your wood – a couple of good handsaws and a file or two for sharpening. You really should have a decent work surface/work bench/etc – a good first project by the way. Last of the basics – a good drill (3/8″ vs battery type). Lastly (I could go on but room is lacking), take a look at Paul Seller’s video’s for simple but highly competent work.
A marking knife is used for marking where you will be cutting with your saws and chisels. For getting into tight spots (like dovetails) and making very accurate lines (which is vital for tight fitting joints) you need just the right marking knife. You would think that any old knife would work, but you would be wrong. Years ago I purchased several that didn’t work well.
When you go shopping for tools, get the tools for your new woodworking shop only a few at a time. As your woodworking hobby progresses, you can obtain more wood tools as time goes on. We list the woodworking tools that you will find most useful and use most often. If you are going to be doing any type of woodworking, we recommend to make a custom workbench to store your tools which will also give you with an area to perform your woodworking projects. See below for what we recommend for a basic woodworking tool kit. 
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