I think it depends on the type of woodworker you would like to become. Are you more interested in traditional “electric free” carpentry or are you drawn to the ease and convenience of modern machinery? Also, I think you should take into consideration what kind and how much shop space you have available. I have worked with all the modern machines for years now, and are just presently finding personal satisfaction in traditional woodworking. In fact, last night I built my very first bookcase with just a few “powerless” hand tools. So in all, I would suggest some personal reflection…What type of woodworker do you want to become?…and from there garnish your shop appropriately.

Block planes have become one of the most oft-used tools in a woodworker’s workshop. Some traditional woodworkers even keep them in their aprons! These little planes can be used to trim your joints, put chamfers on board edges, trim end grain, etc. I would recommend finding a low angle block plane, because the low angle lets you cut difficult grain more easily. My handplane buying guide goes into more detail about the features and brands that you should look for when purchasing a good quality block plane.
Once you have the four aforementioned handheld power tools in your arsenal and you've had time to get comfortable with using them, its time to make your first (and likely most important) major tool purchase. The table saw is the heart and soul of every woodworking shop, the centerpiece around which all of the other tools are used and organized, so you'll want to buy the best table saw that your budget can comfortably afford. Take the time to learn which features you really want and the table saw that best fits your budget and your needs. This article will show you the most common features, and how to determine what features you need and how to know if those features are really well built, or simply added on to the saw because they are selling features. 

Dividers (or compass) are used for taking and repeating a measurement over and over again on a work piece. Traditional woodworkers rarely take measurements with a tape measure when doing fine joinery work, but rather take a measurement with dividers then transfer that arbitrary (yet accurate) measurement to another work piece. This removes a degree of inaccuracy.
After you have chosen the perfect table saw for your woodshop, the next major purchase one should consider would be a compound miter saw. While not as expensive as a quality table saw, a compound miter saw is invaluable for cutting compound angles (beveled, mitered and combination cuts) on the ends of a piece of stock. Once you develop your ability to make precise cuts with a compound miter saw, you'll find that your circular saw spends a little more time in the drawer than it used to.
Many beginners trying to get started in woodworking take one look at their budget and worry about how they can afford to buy a whole shop full of power tools to get started. Fortunately, one doesn't have to spend a fortune to get started. There are really only seven woodworking tools that I would recommend any beginning woodworker have on hand from the start, and most are relatively inexpensive. However, with these seven tools, a beginner can tackle quite a number of projects.
For very many years (since the early 70’s) I built furniture, that I still have and use, with a Stanley No4 as my one and only plane – and only one blade for it. I still have, and use, that same plane. I now have other planes, but the first one is still my ‘go to’ plane. I have just given away my set of chisels, to my son, as I have collected a few old wooden handled ones which I now prefer, but those old blue plastic Marples set did me well for about 25 years.
My Stanley 51/2 was in a bit of a state when I got it and refurbing it took a bit of time and cash. Now it works a treat and looks like new. I’m nearly through the bench build and have spend hours using it – it really is a workhorse piece of kit. I did some final cleaning up of some oak legs the other day and I can’t really see how a smaller plain would do a better job.
To start off you only need either a 1/4-inch or 3/8-inch mortise chisel (or some size close to those). I prefer 3/8-inch. You don’t need a whole set of mortise chisels. Mortise chisels (also spelled “mortice chisels”) are used for chopping mortises (rectangular holes) into the side of your board to accept the insertion of a tenon. “Mortise and Tenon” is a very common and very strong joint that most people have heard of.
Having very sharp tools is one of the most important aspects of proper traditional woodworking with hand tools. Many beginners think that they stink at woodworking, but usually they are just using dull (or improperly sharpened) hand tools. To start off with I recommend buying quality sharpening supplies for sharpening & honing your chisels, hand plane irons, and handsaws. And I’ll help you save money by avoiding systems that don’t work as well.
I am finally getting to practice my woodworking more after years of collecting tools. By using tool reviews and thinking of the kind of work I would like to do, I have accumulated a nice set of tools without purchasing many mistakes. I decided to use Paul Sellers book and videos and start learning from the beginning. He starts with projects that begin with a small set of tools. One of those tools is a spokeshave. Even though I know much of what is in the first lessons, I have picked up a few new tricks, and am learning to use my tools more efficiently. My most important tools are my workbench and vise. The workbench was tough to build as I was on the floor using hand planes; not a good way to work. I have no jointer; did get a small planer and made a sled for it so I can flatten a board. My tools are in my house, so there is no room for a big table saw or bandsaw. I have a chopsaw and a piece of an old Craftsman tablesaw I got for free. It has to be moved outside to use. A circular saw with a guide is handy. My guide has a plate on which the saw is mounted. The plate slides on aluminum angle (with help of rollers) which is screwed to plywood. Once the initial cut is made in the plywood, the plywood is simply lined up with your cut marks and clamped down.
I use chisels perhaps more than any other tool in my workshop, so it’s a good idea to not cheap out here. A high quality set of bevel edge bench chisels (new or vintage) will last you many years (likely  your entire life) and will be used on nearly every project. I’ve used some descent affordable plastic handle bench chisels, but highly prefer lighter wooden handle chisels with excellent steel.
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