[quote]Nate Dogg wrote:
Read my blog about setting up a home gym and also check out the pictures in my profile - I took updated pics about a month ago. However, I recently purchased a home and have the gym set up in my garage.
I began building my own home gym in July 2004. I started with a power rack, flat bench, 300lb Olympic barbell set, EZ curl bar and a weight tree. With the use of a coupon from the Entertainment Book ($25 off) and working with the guys at Play-It-Again Sports, I got all of the above for less than $600 (and it was all new equipment).
I already had a few things on hand (doorway chin bar, kbells, med balls, jump rope and Elite FTS dragging sled).
And since July 2004, I’ve been constantly building my gym and upgrading things. I now have a lat/row attachment for my Body Solid Power Rack (definitely worth getting), and I also purchased some awesome equipment from Ironmaster.com including the Super Bench (I highly recommend this bench), the adjustable dumbbell set and various attachments for the bench (leg curl/extension, ab attachment, dip bars and preacher curl attachment).
Those were some of the best pieces of equipment I purchased to help expand my gym and allow me to do many more exercises.
And I have plenty of other things as well including sandbags, board presses, Iron Woody mini bands, Elite bands, Hex dumbbells from 5-30lbs, various lat and triceps bar attachments, a Texas Power Bar, Swiss ball and more!
Don’t get me wrong, with just a power rack, flat bench and 300lb Olympic barbell set, you will be set for quite a while (it worked for me for two years). But having the ability to use other exercises and mediums by adding the lat/row attachment, adjustable dumbbells and a incline/flat/decline bench really helps!
As for training at home, I recommend getting at least one good training partner. It can be easy to slack off at home if you are not focused and driven to do it every day. A training partner helps keep you accountable and helps to push you when you don’t really feel like going hard during your training.
It’s also nice that I save time, money, convenience, etc. with a home gym. I can train when I want. I don’t have to wait for anything, and I don’t have to worry about stupid people talking to me during training or watching people do some scary things in the gym that make me cringe or wonder where they even heard of certain exercises and whatnot.
The only thing I miss with having a home gym is seeing some hot girls walking around in next to nothing at the gym or using the ad/abductor machine with loose shorts. 
Other than that, I don’t find that training at home is a problem (unless you feel you really need some of the equipment at a gym or need to be around the people). It’s well worth the investment, and it can be done on a budget as low as $500 (for most of the basics needed).
I have just a bit more than $3,000 invested with everything I have. If I did things over again, I’d probably not buy all the extra things I have (kbells, some of my sandbags, some of the bands, etc.), but I would buy the following for sure:
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Body Solid Power Rack with lat/row attachment (or similar brand).
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300lb Olympic Barbell Set.
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Ironmaster Super Bench with attachments (dip bar, preacher curl bench, leg curl/ext attachment).
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Ironmaster Quick-Lock Dumbbells with extra pins/weights to go up to 120lbs.
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Weight Tree (to hold all Olympic plates).
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Various attachments for lat pulldowns and triceps exercises and rows.
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Elite FTS (or other brand) Dragging Sled.
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Swiss ball (optional - but nice to have).
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Med ball (optional - 2-3 different sizes).
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Jump rope ($5.95 at Champs Sports).
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Chalk (cheap and very useful)
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EZ Curl Bar (optional)
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Josh Henkin Sandbag (optional - but I highly recommend his outer bags. Make your own filler bags with play sand, contractor’s bags and Duct tape).
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4’x6’ - 3/4" stable mats (get them from a feed store for much less money - they are heavy and very durable).
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Elite Glute-Ham Bench (This is on my wish list. It’s optional, but it’s definitely one piece of equipment I would really like to have and it would replace some of the things I already have).
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I went to Play-it-again a couple of weeks ago, they were charging $.85 a per lbs. for hex dumbbells! I was offended. But that’s where I got my rack and stuff a couple of years ago for a good deal. I don’t know what’s up with the dumbbells.
I almost scored a Bowflex extreme for $100 from one of my neighbors who didn’t use it, but he backed out at the last minute. Boy, I was disappointed. That would have supplemented what I had nicely. I could have had a full compliment of cable movements available. Hell, it’s probably a good thing, I’d never leave the basement.