Tools do vary in quality and prices. A couple of the important key points which I have pointed out in my video is to search for tools with a lifetime warranty and purchase tools during sales. There is no need to buy everything in one bulk, this list can be obtained over a period of a few months, but the amount of money which can be saved can be invested in something else. Any tools which have a lifetime warranty can be replaced normally for free if they break or have any faults during their lifespan. This tool list which I have shown in the video should be able to be purchased for under $500 and that is also including either a toolbox or tool bag.
Proper tool care and storage also plays a big factor on how long your tools will last for. Remember to always keep your tools clean, therefore wipe them down every time once you are finish or are putting them away. Keep them in a dry location so the moisture will not cause any corrosion issues. Also keep them locked up or out of sight to ensure your tools will not be stolen.
Video tutorial on what my recommendations are for a basic tool list for new DIYers. Some tools will vary depending on what type of tasks you are thinking about tackling, but for the majority of work I've done in the past, these are the most common tools that I do use. In some situations, any specialty tools can either be rented or borrowed for free, depending on where you're located or what sources you have available.