Originally Posted by Iride01

All you need is a bike and a place to put it that has enough room so you can move around it. Good bright lighting helps too. You might want a work stand, but I've gone well over 50 years without one. And at one time I was keeping my bike, my two kid's bikes and several neighborhood kid's bikes running. Not all stands can hold all types of bikes without risk of bike damage though. So there is one of many gotcha's in the world of buying for your future bike room.

Some tools are more specific to the brand and even the exact model of a component you have. So to buy them before you need them might be money wasted. I've got some tools I only used once to remove a component and had to use a different tool to install the new component I replaced it with. I've since found that bike shops many times will just let me bring the bike or wheel in and loosen it for me. Then I can bring it back later to tighten it. Many times for just the cost of good conversation. But YMMV.

A pedal wrench and a hand full of metric hex keys is all you need to get started. Many pedals need a wrench that is slightly thinner than most normal wrenches. Many pedals though also have a place for a hex key though. So maybe all you need are three or four specific size hex keys. And a philips and flat bladed screwdriver.