It's expensive enough to have to sink so much money into materials when renovating, which is why many home renovators skimp on tools and end up trying to bore into a brick wall with a 12-volt drill. In this case, the job requires an electric hammer drill and using anything else can be fruitless and even dangerous. There are many kinds of hammers, and using a claw hammer when you need a rubber mallet could damage the spanking new drywall job you just finished. Using a cheap post-hole digger instead of a power auger when you're digging holes for fence posts will take you longer and in some cases may not even be possible. You get frustrated halfway through the digging process, cut it short and end up with an unstable fence. These are just a few scenarios that can arise from working without the proper tools.
If you've bought a house you plan on renovating yourself, you'll need a basic set of power tools and well-stocked toolbox at the very least. A rechargeable cordless power drill is a must-have. When it comes to saws, most of your tasks can be handled with the trio of a circular saw, a chop saw and a reciprocating saw. The reciprocating saw is great for demolition, the chop saw gives you perfect angles for wood trim and the circular saw makes most of your longer cuts. Get a good level, measuring tape and some safety equipment as well -- goggles, gloves, respirator and a hard hat. If you're doing a job that requires a tool you probably won't need again, go to your local home improvement store, where you can rent every kind of tool for every kind of job by the hour, day, week or month.