If you're interested in woodworking and want to move beyond basic carpentry, then you will need to get yourself a whole new set of tools. The basic tools, such as circular saws and hammers, are fine for basic carpentry, but they are limited in scope when considering more sophisticated woodworking. So, if you are looking to make an inlaid tabletop or a decorative chest of draws with fruitwood scrolling, then you will need to expand your toolbox.
Here is a list of the essential tools.
A chisel set is a crucial part of a woodworker's toolbox. They are used to create mortise and dado joints. They are also crucial for any freehand work you will do with raw lumber. The chisel is also used for small, free hand carving. If you plan on doing personalized, decorative carving, then you must have a chisel. They allow you maximum control.
The best chisels are made of carbon steel. These are the hardest. They require less sharpening. However, they will rust unless you oil them frequently. So, if you only plan on using them for wood (and not masonry), then a stainless steel set is fine.
If you're planning on cutting long pieces of wood, then you need a table saw. A table saw allows you to stabilize the wood much better than a circular saw. You don't want to try and freehand cut a long piece of wood. The wood won't remain stable and will shift during the cut. This can cause it to become uneven. A table saw is especially useful when ripping wood, which is something you cannot do with a circular saw.
Make sure to get a table saw that has an adjustable blade. You want to be able to raise and lower the height of the blade. It is also good to choose a saw that allows you to pivot the blade on the horizontal axis. This allows you to make edge cuts. This is especially good for trim work used around doors.
A band saw makes cutting curves very easy. This is useful when cutting rounded tabletops, chair seats, and decorative aprons for tables. Anytime you wish to cut a non-straight line, you will want to use a band saw. The alternative is to freehand the cut with a miter saw. Band saw blades are more powerful and also more stable. For large cuts, a band saw is the superior choice.
The process of "re-sawing" is another technique that is done with a band saw. This will allow you to "shave" down a piece of lumber multiple times.