What tool/tools should I buy

So with some of my money from the economic stimulus plan as well as some other extra money earned from different little odd jobs I have approximately $400 I’m allowing myself to spend on tools. Here are some items I would like to have.

Bisquit joiner
Drill Press
Planer
band saw
Dovetail Template (Could probably make this myself)
Lathe (would like to make a treadle lathe, but not opposed to buying one)
Belt sander

I already have a table saw, compound miter saw, router, jigsaws, palm sanders, skill saw, drill and so on. I want to get the most for my buck. I do not need humongous equipment since my shop is kind of small and only do wood working as a hobby or for projects around the house. For bigger jobs I normally move my equipment to the carport. I also don’t want to be cheap and buy something that will break easily on me in the future.

If any one can think of other stuff that may be good to have let me know. For the most part I’m wondering what I should get and what I should keep continue to save for future purchases. Any suggestions?

I can say from experience that a drill press and a band saw are both very often useful. If you know precisely where you want holes, and want them to go straight through your piece, there’s really no substitute for a drill press. For the band saw, it depends on whether you already have a power saw of some sort, and what type(s): Most things that you can do with a band saw, you can also do with either a jigsaw or a rotary saw, but the band saw is more versatile then either of those separately.

On the others, I only really know enough to comment about the belt sander and the lathe. There’s nothing a belt sander can do that you can’t do just as well with a piece of sandpaper and your own two hands; the power tool is just quicker. But if you’re going to get a power sander, it might be better to get one of those hand-held “mouse” sanders instead of a tabletop model, so you can sand things on-sight, like a sticking door frame.

On the lathe, there really isn’t anything else that can do the same job as a lathe, but it’s not a job that your typical home handyman needs to do very often. If you actually find yourself frequently in need of a lathe, then by all means get one, but don’t bother if it’s just something you think would be nifty to have for the sake of having it.

I’d say the drill press is the most basic and useful of the tools you have listed–being able to drill nice holes at a right angle to a surface is key in doing neat work.

But my favorite tool is my band saw. It set my creativity free, being able to cut swoopy shapes effortlessly. I also prefer to use it instead of my table saw for more mundane stuff (cutoff of light stock, some mitering) since it’s quieter, less messy, gives a nicer cut surface, and is less dangerous.

I don’t see air tools on your list.
A compressor is probably the single most useful tool I own.
Couple that (pun intended) with a pin nailer, and you have a project-building machine…

Actually, I’d rather make a treadle lathe than buy one for a couple of reasons.
It would give me an excuse to build something that could later be used for future projects.
And, it isn’t a piece of equipment that I wouldn’t use that often.
Most likely I’d use a treadle base from an old sewing machine. No matter what it is not a piece of equipment that is high on my list of things to get. I’ve gone this long without one. I can continue to wait.

I do have an air compressor.
I’m currently borrowing my father’s brad gun. Probably should add that to my list.

Other than the drill press or band saw, most of these tools are pretty specialized, so you’d need to have a specific project in mind to justify their acquisition.

Planers are good if you regularly run into wood that’s too thick for your needs. eg: You need 5/8" thick but only have 3/4" on hand.

Biscuit joiners - unless you’re building cabinets or needing to edge-join boards or panels, you probably don’t need one.

I would no sooner attempt to build a dovetail jig than to build a cordless drill.

Lathes are really specialized - unless you want to make baseball bats or your own stairs, you probably don’t need one.

As mentioned above, belt sanders are good for quick stock removal, but probably nothing that can’t be done with a palm sander.

FWIW, my shop currently has a table saw, compound miter saw, jigsaw, drill press, router and table, dovetail jig, and nowhere near enough clamps. If someone waved $400 at me and said “Have fun at Rockler!” I’d buy clamps.

Get a drill press!

You already have a router. Do you have a Rotozip?
I find it much handier for the little fiddly jobs in cabinetry than my full size machine.
With the right jig, it makes cutting slots for panels, mortise holes etc a breeze.

I have a PC biscuit joiner and I really do like it but it doesn’t get a ton of use (yet…cabinets someday).

Overall I think that a drill press would be a great tool; I use mine for all kinds of things. There are some that are marketed specifically to woodworkers with larger tables, laser crosshairs and other cool stuff.

If you have a lot of shop tools I’d also recommend looking into a nice dust collector. If you have mostly hand power tools then a really quality vacuum to capture dust at the source (circular saws, routers and sanders all have vacuum adapters available).

Air tools are certainly nice - my first was an 18g brad nailer, since added a framing nailer, 15g finish nailer, crown stapler and a palm nailer. They have all seen plenty of use.

If you do a lot of joinery then a fun tool is a Kreg pocket hole jig.

Since the OP is looking for opinions, let’s move this.

samclem GQ moderator