superjoe95

I'm currently in the process of gathering parts for a basic gravel bike build I'm looking to put together this fall/winter. With that will come the need for tools. I do have a set that I bought close to 15 years ago that came in handy for some upgrades I made to my mountain bike. The kit contained similar tools to this kit here. After several moves, I still have the majority of the tools from that kit. I also have your basic allen key set, screw drivers, socket set, and wrenches for things around the house. Any recommendations on some tool kits that will get me everything I need? Was looking at the Park Tool Advanced Mechanic Tool Kit potentially. Hoping to keep it under $700 CDN if I can.

Retro Grouch 

I don't think you'll have any trouble what-so-ever keeping the tab below $700 even in Canadian money. You might even consider shopping for a work stand and wheel truing stand. Make sure your new wheel truing stand will open wide enough to handle your new rear hub.

What kind of bottom bracket? You may already have the BB tools that you'll need but every new generation of BB's seems to require different tools. My bet is your 15 year old too kit already contains everything else you are likely to need. Cable cutter? Cassette lock ring tool? 5 mm Allen key? Torx key for disc rotors?

I'll bet you don't have a torque wrench. I'd recommend a 3/8 drive one for 30 ft/lb bottom brackets and crank arm bolts and a light duty 1/4 drive one for fancy carbon stem bolts.

pdlamb

I'm with the Grouch. Get a nice, not necessarily extravagant, bike stand and truing stand Just buy any extra tools (like BB tool) as you need them. My crystal ball says come late fall tools will be more widely available, as all the fair weather cyclists buy video games instead.

spookygeek

I wouldnt buy a huge kit as there will be soo many tools you never will use. Just buy them as you need. Also check ebay as used ones can be an option.

Pop N Wood

I don't think I own $700 worth of bicycle specific tools and that includes a PCS-4 bike stand that just I recently purchased.

Have to agree with the other guys. Buy the specific bottom bracket/free wheel/etc tools as you need them. Amazon is great for onesy twosy items.

Bike tools are also easy to fabricate.

Gresp15C

I lived without a stand for a long time until I got one for my birthday last year. It's nice, but... how much you'll ever use it depends on whether you plan on: a) building the bike and just riding it; b) cleaning and fussing over it after every ride; or, c) something in between. Following this forum for a while will reveal that there are both casual and enthusiast cyclists in all three camps. I'm not against tools, but they do take up space.

Retro Grouch 

I think that the older you get the more you'll appreciate having a bike work stand.

bwilli88 

Spend your money on good wrenches and screwdrivers. Then go to General tools and get 2 or 3 sets of allen wrenches. Get Knipex pliers and diagonal cutters.