Absolutely not. Your hobby will certainly not eat up your income, though it may require extra equipment and time, and it may even require a little extra elbow grease sometimes.
Woodworking is a hobby of personal expression. You will enjoy learning new skills, and learning new techniques. Woodworking hobbyists, in my experience, are not overly concerned with their spending habits. If your parents were worried that woodworking would become your life’s “second job” you may be surprised to learn they were right. Woodworking is not a job! Woodworking is fun!
Woodworking is an investment. You must set aside a certain amount of money in retirement to cover what you spend on woodworking. If you plan on spending a significant quantity of time on woodworking you should build a nest cushion for yourself before you invest an unreasonable amount.
For most woodworkers, their initial investment is $25-$40 a month for a couple of years until they become comfortable with the skill. There are a dozen or so other options that cost more but are just as enjoyable.
How Much Does It Cost to Build a Basic Woodworking Workshop?
The most useful way to get a sense of the cost of building a basic workshop is to check out some online tools. While you can build a woodworking shop with the materials you buy at your local hardware store, the tools might cost thousands of dollars.
One of the major options is a “basic” woodworking shop, that includes furniture, cutting table and benches, a counter, and perhaps even an assembly room with an actual bench. The price is typically between $400 and $1500, depending on the type of work that needs to be done.
What about more advanced building plans such as a “home shop”, which will allow you to spend more than $1500 for a workshop, but will still take you more than a year? It’s important to understand that in some cases, a $1500 basic workshop will cost more than $500 for a $5,000 or $6,000 home based in Colorado.
If you are considering a home based woodworking project I encourage you to work with a pro, or at least ask one. There is no “one size fits all” with home building. Just because you have a good “house plan” doesn’t make your home a home. For simplicity I will be listing a few things that I consider important. These are general guidelines that will get you started.
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