Aside from great tool suggestions, nothing beats a large, stable and flat worktop.
That would be a fine first project.
This table has been very handy for me.Tools?
I have a
Ryobi 10" table saw. Avoid cheap blades; they wobble and give a crappy cut.
I have a
Porter-Cable router. Bought it used, along with a home-made router table. The table is really just a platform; it clamps to the rails of the table saw for support. I added an enclosure underneath that accepts a shop-vac hose for dust control.
I have a truckload of clamps. Iron C-clamps, quick/trigger clamps, pliers-style clamps, and half a dozen pipe clamps. Short-throat pipe clamps can develop plenty of force on large items; longer-throat pipe clamps (~4" throat) will make the pipe flex a lot, but are still pretty handy. I have some of each.
A set of brad-point drill bits. Less tear-out than ordinary bits, plus easier to start at a particular location without wandering.
A cheap stand-up drill press from Harbor Freight. Get a drill-press vise to go with it; assures right angles, and makes it easier/safer to hang onto small things while drilling.
DeWalt random-orbit sander. Comes with a dust collection bag, but the self-generated flow is pretty anemic. I attached a shop-vac fitting for dust control.
If you're going to do dowel joints, get a really good quality jig. I've bought a couple of cheap ones and then thrown them away.

Finally, get a real, full-fledged
respirator. A good quality respirator with an airtight seal against your face can make applying stain/varnish much more pleasant, and can also protect against all kinds of dust (sanding dust, sweeping out the garage, etc.).
Visit
www.woodworker.com ; request a paper catalog, much easier to browse randomly than the website. They have lots of interesting stuff.