If you really want to get a home gym, at least try to get your neighbors and friends to use it as well, otherwise you'll literally be overpaying for nothing. I have a small home gym but let just about everyone who want to use it around here use it. The top thing I would recommend (easy on the ass for those with roids) is this little beauty right here:
http://www.exercise-n-fitness.co.uk/...s.asp?pid=1022
Mine is half that cheap and hurts your ass so bad, roids or not. If you get a treadmill, make sure to get one that has an automatic climb ability (that is, so you don't have to manually increase the elevation, machine can do it automatically). I have two treadmills, two cycling units, barbells, few other things (not a big worker with weights with arms, mainly legs here).