With careful shopping, you should be able to fill this list with good-quality, long-lasting tools for less than $300. That’s money you will probably make back on your first project or two. The most useful level is a two- or four-foot carpenter’s (or spirit) level. If you plan to do a lot of home remodeling, you will appreciate having both. The best bargains have tough aluminum frames. A nine-inch torpedo level is easy to store in a toolbox and is useful for checking short spans. Do not rely on the accuracy of a torpedo level over long spans. You can also use $15 Stud 4 Sure magnetic tool, which can quickly locate the screws or nails holding drywall to studs. You can have the same success with a few rare earth magnets.