Being without machinery to dimension and dress rough timber myself I can definitely see the benefit, but I think the investment (both in money and space) in machinery like this is premature for ‘basic’ woodworking. Additionally, without some other machinery (table saw, bandsaw) you’re still going to have trouble dimensioning smaller timber for projects from large/rough stock (e.g. producing timber strips for case fronts, ripping to reduce thickness, etc). 

After you have chosen the perfect table saw for your wood shop, the next major purchase one should consider would be a compound miter saw. While not as expensive as a quality table saw, a compound miter saw is invaluable for cutting compound angles (beveled, mitered and combination cuts) on the ends of a piece of stock. Once you develop your ability to make precise cuts with a compound miter saw, you'll find that your circular saw spends a little more time in the drawer than it used to.


The jigsaw, another hand held and versatile saw, is used for cutting curves. One has a lot of freedom with a jig saw because it can cut curves, circles and straight. Depending on the width of the blade, the curves can be very fine. The down side to the jigsaw is that straight lines can be difficult depending on the wood you are cutting. No matter, it is important to make sure to always have sharp blades.
Thickness planer. A thickness planer is used to fix surfaces of imperfect wood. If you are picking up less than perfect wood from the lumberyard, wood with some surface defects, a planer will let you fix that wood in the quickest time. A thickness planer pays for itself quick as it allows you to buy cheaper wood that doesn’t have perfect surfaces and fix it yourself. Be careful though. You loose wood during planing. So the remaining amount of wood still has to be worth the price you paid for it.
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