There are numerous benefits to remodelling your home, or a part of it, under your own steam. Contractors and workmen are very expensive to hire, and if you're up to the DIY then your renovation will be especially cost-effective.
Buying tools can be one of the more expensive start-up costs. The process by which specialist appliances are constructed is long and complex, involving costly plastic injection moulding by companies like Daneplast, and this tends to push the prices up.
However, it is possible to hire tools instead of buying them. While you should certainly invest in the basic hardware, it is not crucial that you own every single piece of the equipment you'll need.
If you haven't already got one, buy a standard tool box. This comes equipped with screwdriver sets, hammers, pliers and a host of other smaller bits and pieces you will need. A good drill is also a great investment and you should definitely own one of these too.
More sophisticated machines, such as floor sanders and large-scale angle grinders can and, indeed, should be rented. For the purposes of simple DIY, the basic equipment will suffice, supplemented when necessary by hired specialist appliances.