There are a couple different ways to go about purchasing bike tools:
1. You can buy a pre-made kit from Park Tool or Pedro's.
2. You can piece together the right tools for the job as they become necessary.
Buying a large tool kit is nice because it comes with everything you need, and probably more, but it’s hard to drop several hundred dollars at once.
Because of the price, and because you might be paying for tools that you will never use, sometimes buying a few tools at a time is the better option. You only purchase what you need, and it spreads the cost out over a longer period of time.
If you’re planning on doing even the most basic bike repair maintenance, don’t underestimate the importance of a quality repair stand.
Yes, they can be a little expensive and yes, they take up a little room in the garage. That said, a quality stand will save you from a lifetime of turning your bike upside down and bending over to make repairs and adjustments.