Hand tools are an absolute requirement for a wood-shop. If you have not learnt to use some till now these are the must have hand tools that you need to get in your workshop. They will make your job easier on many occasions. The odds are that you already use some of them because woodworking is not possible without them.
Power tools are a boon for woodworking. They are also expensive to buy. So if are just beginning to invest in some power for your workshop, these are the electric tools that you need to focus on getting first. They are the essentials and take on the maximum workload in most wood-shops.
There is usually a steep price difference between the woodworking tools deemed as professional versus those meant for personal and light use. Do you need to make this additional expense? Sometimes you do and sometimes you can be smart with the tools and accessories you buy and save yourself extra expense. This post explains what grade of woodworking tools you need when.