i have both.....i like to have my bench and rack at home with 500lbs of weights with full stereo sound at whatever volume i choose but i also like the atmosphere around all the big powerlifters and the use of 10,000 sq ft of equipment.
if you do choose to buy some home gym stuff the first i would say is a squat rack. has many uses over just a bench. and if so check craigs list fo sho. you can always find something almost new that someone bought and thought they would use and you can take it off their hands at half price.