15 Tools Every New Homeowner Should Own

A multipurpose, battery-powered drill and driver can be used for a large number of tasks. Buy a pack of drill bits with a good selection of Phillips-head, slotted and square-drive bits all in a variety sizes so you’ll be prepared for whatever repair jobs comes your way.

You probably don’t need a full set of wrenches, just get one or two adjustable wrenches; since its jaws may be adjusted to fit nuts and bolts of different sizes. Some self-adjusting wrenches are self-ratcheting, meaning you don't have to remove them from the bolt to tighten it.

Two hammers should be enough to start your toolbox. Get one heavyweight and one lightweight. Rule of thumb: The size of the hammer should correspond with the size of the nail. The bigger the nail, the heavier the hammer should be. For outdoor projects and big construction projects go for a basic claw hammer. A pin hammer is a lightweight hammer used to drive in small fasteners such as panel pins and tacks. 

Keep an electrical extension cord around the house. They come in handy for outdoor parties, getting a little extra light into a dark corner and of course, home improvement projects.