I just puchased my first house about 2 years ago, in order of what got used the most:
Measuring tape
Steel ruler or builders square
Pencil
Ratcheting bit driver with interchangeable bits
Flashlight/headlamp
Torpedo level
Stud finder
Utility knife
Claw hammer (14 oz minimum)
Corded drill + short extension cord (cordless is nice, but if you can manage the cord, corded offers more bang for your buck)
6 ft ladder
Jab saw (drywall repairs)
Putty knife (drywall repairs)
Dremel

These only get used rarely for house repair
Cross-cut saw (cutting lumber and shelves)
needle nose pliers
Adjustable crescent wrench (8-10")
Channel lock(8-10")
Socket set
Basin wrench (you don't need one until you really need one. Don't buy until you're replacing faucets)
I also have a B&D jigsaw that is an unmitigated piece of junk.

With the exception of the saws and the power tools, you can get away with the bargain stuff for basic home maintanance. Buy brand name (DeWalt, Bosch, etc) when you're dealing with those.

EDIT: A basic home improvement book.
http://www.homedepot.com/How-To-Books/h_...catalogId=10053


Edited by Mark_R (01/13/11 08:00 PM)
Edit Reason: add book
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