For the majority of beginning exercisers, a home gym doesn't have to be complicated OR expensive. A set of adjustable dumbbells (or a rack of different weight dumbbells), a workout bench, a fitness ball, and a spot on the floor are adequate for your home gym. However, due to boredom or the need to incorporate more advanced exercises, you may wish to add to this basic set-up, especially after you've been following a regular exercise routine for a while.
Oftentimes I am asked which types of equipment should be purchased for a home gym, and where to find it. Unless you're willing to spend a significant amount of time looking around your local stores hoping for a good deal on the equipment I'm recommending, and have the means to bring the item(s) back to your home, your best (and least expensive) bet is to purchase fitness equipment factory-direct online. Here are some pieces I recommend for rounding out your home gym, based on the exercises I've found to be most effective for my clients.
Free weights are the cornerstone of any home exercise program. It's OK to use sets of dumbbells, but I prefer having just one pair I can adjust in weight easily.
The number of exercises you can do are vastly increased when you own an adjustable bench.
If you already own dumbbells, barbells and weight plates are a great next addition.
Machines offer certain exercises that are difficult or impossible to perform with free weights. If you already own a set of free weights or you simply want basic fitness, look into these types of machines.
Chin-up bars are great for working the back and abs more intensely. Every advanced exerciser should have one at home.
Fitness Balls are a staple for a huge variety of bodyweight exercises.