There are as many applications for music stands as there are instruments and musicians. How will you be using yours? If you are a singer or solo musician, it will be ideal to build a stand that is free-standing and can easily hold multiple pages of sheet music. If you play a keyed instrument (anything from a piano or rhodes to a harpsichord) you may consider a simpler tabletop stand that can rest at eye level on the instrument itself. You must also consider the amount of sheet music or notes that you wish to carry on your stand. If you only focus on one sheet, you may want to consider clips to keep your music or notes secured while you practice. This also can come in handy for music books to clip the front and back cover to avoid slippage during a practice or stage session.
Most store bought music stands are metal. Metal is sturdy and long lasting but is a material that is difficult to work with if you have little or no experience with it. Wood is a good alternative and suits most designs. Wood allows even a novice to create something both usable and unique. Wood also comes in a range of hardness: soft wood is easier to cut and work with but hard woods are sturdier and often look better.
Safety is always a consideration. In working with either metal or wood the tools needed can prove dangerous. If you go the route of metal, you will be welding and will need proper body and eye protection. Eye protection not only protects from flying shards of metal or sparks but also keep your eyes from being damaged by the brightness of the welding process. Often overlooked with welding is UV damage to the skin. Gloves and long protective sleeves should be worn. When working with wood tools, especially saws, be sure to have eye protection and avoid wearing clothing that is loose or can be caught in your wood working tools (ties, scarves and baggy sleeves, for example).