The Cost of Woodworking, Tools, Etc.

[Rich Riddle]

Someone asked the price of woodworking tools, supplies, etc. in relation to the stuff I build. Never really pondered it but always thought my quality was better for less money that contractors. So how much do you folks have tied up in woodworking equipment, tools, etc.?

[Jim Matthews]

I went the Neanderthal route, to save on up front expenses.
Fully outfitted, with my lifetime supply of local Black cherry
and a MM20, $4200 for everything in my shop.

That includes power tools that fit in drawers,
handplanes, chisels, benches - the whole of it.

Could I make a living with this set up?
Not a chance.

Can I make furniture as good as the stuff I can't afford?
Pretty close, I'm getting there.

[Jesse Busenitz]

I'm working on my insurance, so just went through all my tools and figured it out close to 30K. No CNC or new european tools.

[Ken Fitzgerald]

Since this is a public forum my wife might see, I am hesitant to answer this question. But......I have a standalone 30' X 24' woodworking shop..well insulated.....finished walls with plywood....it's own 200 amp service.....it's own Lennox gas heat....it's not air conditioned....yet.... then we start talking about tools.........Oneida 3 HP DC, MM-16 bandsaw, 2 Jet air filtration systems....General International mortiser, Ridgid hybrid table saw, PM-3520B lathe.....Excaliber 21" scroll saw......Jet drill press.....Grizzly G0490X jointer.......Delta scms....

I could buy cheaper than what it costs me to build it but..... it's what I do to have fun.

The nice thing is unlike a boat, I don't have license it every year .....

[Rich Riddle]

Since this is a public forum my wife might see, I am hesitant to answer this question. But......I have a standalone woodworking shop..well insulated.....finished walls with plywood....it's own 200 amp service.....it's own Lennox gas heat....it's not air conditioned....yet.... then we start talking about tools.........

The nice thing is unlike a boat, I don't have license it every year .....

Ken, I pondered asking how much we thought our friend's shop cost just for the reason you mentioned.

[Rich Riddle]

I went the Neanderthal route, to save on up front expenses.

Wow, there are going to be some Neanders laughing themselves into next month with that comment.

[glenn bradley]

I've yet to spend anywhere near what I spent on golf over the same period of time .

[Ken Fitzgerald]

In my defense Rich, I had an empty shell built for the shop. Nearly 11 years ago, the empty shell cost me $16,000 so about $22.20 a square foot. It's 2x6 construction with 9' ceilings. I did the insulation, electrical and finish carpentry myself to keep the costs down. My wife is older than I and could have retired but had me build the shop. We financed the empty shell and she continued to work to pay for it. The rest I did cash as I went.

There are some things in life that are just pure luck! Being prepared to take advantage of those opportunities is key. Once I got within 3 years of retiring, my wife suggested I take out a loan against my 401K and buy the larger tools. I paid myself back with interest. Yes I know it was after tax dollars but.... So I bought the more expensive tools and....

Now the luck part. We made the last payment on that 401K loan and a couple months later I awoke deaf and had to retire. Whew! Talk about luck!

Seriously.....I hate to think how much I have wrapped up in it but I enjoy doing it. So........

[Bill Space]

My home shop is a combination woodworking and metalworking shop.

A quick mental tally of the value of the tools on the used market comes to about $15K. The replacement value would be MUCH higher. I too am in the process of documenting things just in case a disaster would happen.

My guess is at this point about half of my tools actual out of pocket value is in woodworking tools. The replacement value would favor the metal working tools by a factor of three I bet, or maybe more.

[Judson Green]

I was formerly a mostly electronic woodworker and trying to make a living of it - cost a lot. Now I'm a mostly neanderthal hobbyist and cost is very little.

I'd say the everything (shop space, tools, training, time, vehicle, utility bills, equipment, excetera) needed to get to the final piece is huge, but doubt many of us would have any other way.

[Keith Pleas]

The nice thing is unlike a boat, I don't have license it every year .....

I have to license my 44' boat. And my dinghy. And the trailer for the dinghy.

I also have to provide (annually) proof of insurance for my boat. And dinghy.

Then there's the FCC ship license and my operator license (OK, that one doesn't expire).

I also have to keep up my USCG 100T Masters License.

Now if I actually want to leave the dock...head to Canada, then that means my Nexus pass has to be up to date. Which requires a passport.

...it just goes on and on and on and everyone's got their hand out.

[jack duren]

Someone asked the price of woodworking tools, supplies, etc. in relation to the stuff I build. Never really pondered it but always thought my quality was better for less money that contractors. So how much do you folks have tied up in woodworking equipment, tools, etc.?

Enough to make a living at it. I would have to go back and check taxes for 30 yrs to even have a clue

[Cary Falk]

I have a garage full of large tools but I have spent way less than my wife has spent on horses.

[Rich Riddle]

Waiting to see if Dave Kumm or Rod Sheridan offer a figure....Dave's band saw budget likely exceeds most of our total shop budgets.

[Jim Finn]

I keep records of what I have spent on my woodworking hobby since 2000. I now have equipment that cost me $9,949 That would take $13,407 to replace today. I earn at least that much every year form my wood working "hobby". I have found a way for others to fund my hobby.