This is very intresting to me as I recently moved from a house that had a local gym with everything less than a mile away, to a house that had no gym within reason and I have to create a home gym for myself.
So, not being made of money, I needed to decide what I wanted in my home gym. First choice was squat stands as I could not afford a cage and stands were a cheaper alternative. Then a bench and barbell and weights.
That's bare bones. Stands were $240 (new), bench was $40 (craiglist), I chose to invest in a barbell and 210 lb of bumpers so that was $600 because I love the olympic lifts and choose to continue doing them to the best of my ability, then some craigslist plates to round out the process and there you go.
I also chose a Lat stand with row capability off craigslist for $120 too as that's a weakness I need to address, but basically that's what I spent to be ready to lift next week continuing on my 5-3-1 program.
Bottom line: looking at the question as what do you really need, I'd say you need bar, plates, stands, bench, and a pull up bar.
You have that you're done. My .02
I am Anton Zdravko Martin!
Best meet lifts: Sq 150 Kg (330 lb), Bench 120 Kg (264), DL 160 (352) @89 Kg (197)
Best gym lifts: Sq 375, Bench 280 (pause), DL 385 @205 or less
Goals beyond my wildest dreams, 600 Kg raw total, 200/160/240
Hack away at anything which isn't essential. Do what you love, and do it often. Fazc.
Everything competes for recovery so more assistance is not always the best idea. miked96