17 items, $2,088.87 total at current listed prices. Spend on the lathe size, the measuring and the sawing. A bandsaw that cuts stock square and a micrometer that reads a tenth-accurate fit do more for part quality than anything else at this budget.

8"x14" Metal Lathe - Adjustable Speed Up to 2250 RPM
An 8 inch swing and longer bed double the useful work envelope of a 7x lathe, and most in this class add power feed and a stiffer bed.
Check price on AmazonWho this is for: Someone who has outgrown a 7x lathe or is sure enough of the hobby to skip it, and wants tools they will not replace in five years.
The complete intermediate build list
Machine

8"x14" Metal Lathe - Adjustable Speed Up to 2250 RPM
An 8 inch swing and longer bed double the useful work envelope of a 7x lathe, and most in this class add power feed and a stiffer bed.
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Garvee 15 in Floor Drill Press
A drill press with a low enough bottom speed for larger drills in steel, and a table to clamp a vise to.
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VEVOR Portable Band Saw
Cuts bar and tube to length far faster and straighter than a hacksaw.
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Tooling

OXA Tool Post Set 250-000 Wedge Type Quick Change Tool Post Set 8...
Tool changes in seconds with repeatable center height, the most-recommended lathe upgrade for good reason.
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21Pcs Kit Indexable Lathe Turning Tool
Consistent edges without grinding for roughing steel on a lathe with enough speed to run carbide properly.
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VEVOR Cobalt Drill Bit Set
Cobalt holds its edge in stainless and hard steel where plain HSS dulls.
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60pc Drill Bit Set M2 HSS High Speed Steel Bits Numbered #1-60 Metal...
Tap drills for the small threads: #43, #36, #29, #25, #21 and #7 all come from this set.
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Tapping

80 PCS Tap and Die Set SAE and Metric
A broader set that covers both systems, which imported machines and hardware demand.
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Measuring

Digital Caliper
Better jaws and a reliable absolute encoder for repeatable readings.
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Mitutoyo 103-260 Outside Micrometer
Reads bearing fits and press fits a caliper cannot resolve.
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Dial Indicator with Magnetic Base
Centers work in a 4 jaw chuck, trams a vise and checks runout.
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Workholding

findmall 4 Inch Lock Down Vise Accuracy Milling Vise 4 Inch Jaw Width...
Holds work square for drilling and light milling.
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Yunnergo K72-100 Lathe Independent Chuck 4 Inch Chuck 4 Jaw 3500 r/min
Holds square, off-center and irregular work, and centers round work to a tenth with an indicator.
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Consumables

Lubri-Cut Drilling and Tapping Gel
Tapping and threading in steel and stainless need it.
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SOWKIPE 13-Piece Needle File Set
Clean up burrs and small features after machining.
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Safety

Sellstrom 301 Face Shield Uncoated Clear Tint
For the bench grinder and heavy roughing, over safety glasses.
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ProCase Hearing Protection Ear Muffs SNR 33dB
Bandsaws, grinders and angle grinders are loud enough to damage hearing over a session.
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Also for the shop: a machinist tool chest for measuring tools, the reference books worth owning, and the safety gear. Before cutting threads, check the change gear chart and the Morse taper chart for tailstock tooling.
What can you skip?
- A full-size mill. A mill-drill or milling on the lathe with a vise covers most hobby flats and slots at this stage.
- Premium name-brand measuring tools across the board. One good micrometer is worth more than a drawer of mediocre ones.
What should you upgrade first?
- A 2-axis DRO on the lathe, which ends dial counting and backlash errors on long jobs.
- A 4x6 horizontal bandsaw if you cut a lot of bar: it runs unattended.
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Prices are live catalog prices at our last check and change often. Products researched from published specifications and verified owner reviews, not hands-on testing.