The home gym is a mythical creature that many have faced but few have conquered. The question is whether convenience is truly the reason a person does or does not exercise.
From personal experience I have not had access to a home gym since living with my parents when I assembled a collection for use. I did use it regularly for a few months, but found that it was limited and I preferred the energy level and variety of equipment found in a commercial gym.
As a supplement to a commercial gym, a weight bench and rack of dumbbells seems like an excellent choice. For about $200 and 60 square feet one can have a reasonable set up to get a complete body workout. However, I would argue that an equivalent supplement would be a regiment of push ups, pull ups, and sit ups.
The truest indicator of an items worth or lack thereof is the quantity and variety found on Craig’s List. It is here that one realizes that there is no shortage of exercise equipment in all shapes, colors and sizes. So to those who can drop in to a community recreation center, I would highly recommend it. To those who cannot, start small, buy used and supplement as required.