I would say start with a descent table saw. You can rip (cut along the grain, usually the length of the board), crosscut (cut perpendicular to the grain, usually the width of a board), miters (angled cuts for corners), as well as dadoes, rabbets and tenons (with a dado blade set). Plus I tend to use mine as a workbench and assembly table for small projects.
I have my grandfather’s old Craftsman table saw that he got in 1956. He never used any dust collection and worked in his shop daily. I’ve had it for a few years now and plan on adding dust collection in the spring. If I were as diligent as he was about cleaning up after each set of cuts, the dust issue wouldn’t have been too bad.
I just finished building a wall o’ cabinets and shelves and a new kitchen table for my wife. The cabinets are 8 feet wide by 8 feet tall and 15 inches deep. All I used - in order of time spent using each tool - was my table saw, circular saw, drill, router, and drill press. I could have used my drill instead of the drill press, but the drill press was good for drilling the same holes for the European hinges on the cabinet doors. 25 hinges in total.
I did rail and stile cabinet doors with a flat plywood panel. I cut all the grooves and tenons on the table saw. All the plywood panels were first cut down with a circular saw on saw horses, then cut to final size on my table saw. All the hardwood was cut to length on my table saw.
I did some dadoes in the large side panels with the router.
I drilled pocket screw holes to attach the face frames with my drill. I also used a jig to use my drill to make holes for adjustable shelves.
I forgot to mention that I used a Random Orbital Sander, but not very much. Since I was using Baltic Birch veneered plywood, I was wary of sanding through the veneer, so I mainly stuck with hand sanding everything. I mainly used it on the table legs that were rough sawn at the lumber yard.
There was a lot of dust. So much that I refused to do any more projects until I redo my workshop. Everything is going to get put in a cabinet or drawer.
My workshop is a single bay in a 3 car garage. I can move the cars out for more room when I need it, but I have to keep things small and mobile. I am going to redo my table saw cart so it incorporates the router table and jointer more seamlessly. I am going to redo my workbench and add some storage near my drill press. But the very first thing I will make next year is a Thien Cyclone Dust Separator for under $30 to make it much more enjoyable place to work.