Great idea for a thread and lots of great suggestions. Beener really hit the homeowner list on the head.
I was raised by a man with most every tool one should ever need in normal circumstances. He never had a welder or cutting torches, but I have two uncles who do, so we know where to go when we need those. Dad's philosophy was always "have the right tool for the job" and if he had a job that needed a specialty tool, he'd buy it if he felt it would pay off over the course of that job. He bought a Paslode back in '96 before some contractors even had them. So I learned the value of the right tool for the job at a very early age. I've been very fortunate to acquire several hand-me-downs also from a jig saw, band saw, circular saw, heavy duty hammer drill, and a few more valuable tools. During my time building fence, houses and doing electrical work, I bought myself several high quality hand tools including Estwing hammers, Swanson speed square, 18V Dewalt cordless kit with drill/circular saw/sawzall, and several Channellock products. Hands down, my Dewalt cordless drill is the one tool I use the most.
Where I lack right now is a vise and a compound mitre saw. I am putting a vise in my building here in the next few weeks and will have a mitre saw before much longer. I am in the process of cleaning out my garage so I can turn the back half in to a shop and that saw will pay for itself while I build the work bench and shelves. I'm very fortunate to get a bonus twice a year and my summer bonus will pay for the saw and most of the materials to do my garage. Looking forward to a fun project!