The basics any modeler needs are a nice bench/desk, a bright light(the more the better kinda) a comfy chair, tools, a place to paint, and of course aq nice stash of models.
If i was in your spot this is what i would do, here at a local thrift/charity store they have a really nice "c" desk for around $20 granted its about 6' long, but it does have shelfing above to store either kits,paints,tools, or what have you. then i would make a paint booth near one of the windows, and get a nice big leather office chair second hand. dont forget to install a heater and a window a/c/ for those long build sessions that tend to happen
the rest of the shop i would use for either storage for alot of kits, or shelfing, you cant ever have enough shelving.
As for your questino about brands, just take to heart the old saying "you get what you pay for"
I myself dont have that many tools, i have a few files that my folks got me for christmas from harbor freight, various sanpapers, a few tubes of spot putty, a can of bondo, a small bench vise, and a set of helper hands with a magnifying glass on it.
You cant forget to pick up a exacto knife and a small supply of #11 blades. for sprue cutters i use nail clippers or wire cutters, its the exact same thing, for paint i use spray cans from walmart and the such.
It all depends of how extravagent your willing to get, or how deep into the hobby you want to go.
Jeff.