Hello John, and welcome to the forum!
Whilst you ask a very sensible question, it's not an easy one to answer simply. There are several reasons for this; it depends what you want to do, and whether you want to go handtool only or handtool supported by some power tools or machines. It also depends on whether you're prepared to fettle up secondhand tools, or you'd rather start off with something decent that works without too much 'bothering'.
Something that may help is a book. Specifically, 'The Anarchists Tool Chest' by Christopher Schwarz, which sets out the tools he's found by experience to be most useful for someone wanting to make 'proper' furniture and such items at home, and what to look for in each tool. (There's more to the book, too - how to build a cabinetmaker's tool chest, which might not be of immediate relevance, but may provide food for thought in due course.) The book isn't available through Amazon, but UK buyers can purchase a copy here -
http://www.classichandtools.com/acatalo ... Press.html - scroll down the page, and it's near the bottom. Whilst you're there, buy a copy of 'The Essential Woodworker' by Robert Wearing, which is a great introduction to things like how to plane wood up square and flat, how to make simple tables, stools, basic cabinets and so on. Neither book is 'cheap', but they're beautifully produced and the information is priceless.
One basic tool is a bench. Doesn't have to be anything fancy, just rigid and preferably heavy (or firmly fixed to something solid). Indeed, it's best if a mark 1 bench isn't perfect - the lessons learned will inform a much better mark 2 when the time comes.
For getting started, not very much is needed. A couple of hardpoint saws (a hand saw and a backsaw), a try-square, a drill and some drillbits, a hammer, a mallet, screwdrivers, a tape measure and a steel rule, a plane of either No 4 or No 5 size, a few chisels and a means to sharpen plane iron and chisels will get you going. Then at the start of each project, decide what additional tools you need, and buy them then. That will avoid the pitfall of buying stuff you end up never using. Oh - and you'll need some pencils, a packet of sticking plasters, and a dustpan and brush!
Perhaps the most difficult purchase is a first plane. It needs to be a good one, to avoid the problem of having to fettle it, and there are a couple of ways to stack the cards in your favour and avoid the rubbish. First, if it seems too cheap to be true, it probably is - you can buy new planes for £20 or so - don't! If you can afford it, buying premium (Lie-Nielsen, Clifton or Veritas) will give a lifetime tool that'll work straight out of the box - at a price. There are also the better Chinese imports - Wood River and Quangsheng - which are almost as good but not as costly. Then there's the option of buying a good secondhand user from one of the better secondhand dealers (Ray Iles of The Old Tool Store offers refurbished planes, which will be a sound investment). Finally, you can take your chances with the likes of Ebay, from which it's possible to find really first-class planes at bargain prices, but from which many a dog has surfaced, too. It's a bit of a lottery unless you have some knowledge of what you're looking at.
Don't worry about making one or two mistakes, though. We all have a few we'd rather not admit to, and it all adds to experience!
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