The JET JDP-17MF Floor Drill Press is a The JET JDP-17MF Floor Drill Press is a true woodworker's drill press. With 16-speeds it lets you choose the best speed for the job. It comes equipped with a quick release crank operated worktable; work light X-pattern mounting grooves depth stop and adjustable tension spindle return spring which is ideal ...  More + Product Details Close

If I were to give someone new one piece of advice, it would be to buy their chisels new, not used. I have wasted more time and more money trying to save butchered chisels than I want to admit. There’s a good chance that the used chisel will be bellied in the back or pitted at the edge and it will take more than beginner skills to fix it. You may make things worse rather than better. Sure, learn to do this _some_ day, but maybe not as a beginner first thing. I’ve had similar problems with used planes, but it isn’t nearly as bad a problem for a joinery plane. If there are pits that lead to scratches, it may not matter for anything other than a final smoother. Also, a tiny back bevel may save the day on a plane, but you likely don’t want that on a chisel. So, I’m less fussed about planes and, if it all goes south, you can buy a new blade for smoothing work and use the old for rough work (all in the same plane). You can’t buy a new blade for a chisel. Well, you can, but it’s called buying a new chisel. I use 3/8″ a lot. 1/4, 3/8 to handle all the mortises and dovetails and either 3/4 or 1″ for paring shoulders and for fat parts of some dovetails. I probably learn towards the 1″ because there are times you want to reference off the blade to keep moving in a line, like for a housing. I think Lee Valley’s version of the Narex are excellent and mine came with flat backs that could go straight to polishing.

Own one junk chisel, probably about 1″. This will keep you from doing what you oughtn’t to your good chisels. It can be used and can be nearly trash. It’s going to hit caulk on masonry, junk stuck to the floor, interior cuts on thin sheets of aluminum, and other such abuse. If the back and bevel sort of intersect on an extra coarse stone, it’s sharp. I’ve sharpened mine on the concrete back stoop. (Not so great for the concrete)
The fourth most important basic handheld power tool every beginner should buy is a random orbital sander. While palm sanders are less expensive and can use plain sandpaper (cut into one-fourth sections), the random orbital version uses hook-and-loop fastened sanding disks, and doesn't sand in patterns, using a random sanding motion instead. This motion will serve to reduce the chance that any sanding marks may appear on the stock due to the sanding. Of course, be certain that your local woodworking supplier has sanding disks readily available in a number of grits to fit the model that you choose, as the key to proper sanding is to use progressively finer grits as you sand to reduce or remove any marks that are left behind from the previous sanding.
As someone who is just progressing past being a “beginner” (just getting into building furniture) in the woodworking community, I would say there are a number of changes I would make to your list. First, I would say that a power jointer/thicknesser does not belong on the list by any means. They are way too large of an investment and take up a lot of space (not to mention you can buy your stock at the desired dimensions). I also strongly disagree with the concept of joinery devices. As someone new to the trade, I feel this is a very important skill that must be developed, not skipped over by buying devices power devices that achieve a single goal. I think the jigsaw should be replaced by a good bandsaw. I just purchased my first major power tool and it was a 14″ bandsaw and not a tablesaw for space reasons as well as versatility. The bandsaw allows me to resaw, cut curves, (now that it is adjusted for drift) rip pieces of stock accurately that are thicker than a table saw could handle, etc. Once the cut is complete, a handplane can remove any saw marks and square/flatten a surface. It is also really useful for cutting tenons and dovetails. Handsaws can be used for crosscutting and anything else the bandsaw cannot handle. As for a bench, if you are getting into woodworking, this should be your first real project (and it is not expensive to make). You are also missing a good vise to be attached to the bench.
“Basic,” on the other hand, is a word that allows for growth – and that’s exactly what you want in your woodworking tool kit. You want to be able to take the same kit with you through many years in the craft. With my basic woodworking tools list, I wanted to provide a core set of tools that will serve you well from project to project. I’m especially concerned these days with the transition to hardwood furniture making, as opposed to plywood boxes of various sizes. That’s the transition I’m making right now in my own work!