Establish the style and type of music or audio recording you are going to be doing before purchasing equipment. One of the most important things a mic locker needs is a good and effective vocal mic. One thing to consider for this is your budget and what you are initially wanting to cover. It is important to remember that male and female vocals are generally at varying ranges and you will want strong microphones that are good at capturing these ranges. If you are on a tight budget, you can still find fairly robust mics that can handle a somewhat broad range, but if you can afford to have individual mics to capture each end of this range, you will be far happier with the end result.
Capture live performances with a microphone that is able to handle a more mid-range signal. This will be mics that can handle the specific range and threshold of guitar, bass instruments, piano, and any other specific instruments you may find yourself recording. If you are predominantly going to be focusing your recording a particular style of music, his will require a particular group of mics that are best suited for these instruments. For example you will want a microphone that is able to best record the rich tones of an acoustic guitar, however this same mic may not be best designed for capturing the high sounds created by a sousaphone.
Research before purchasing your drum mic set. This is one area of recording that is ever-changing and prices are always fluctuating. When you are recording percussion instruments you will need an arsenal of microphones that are specifically targeted toward individual styles of drum pieces. Particularly when recording a full contemporary drum set. you will need a variety of selectively placed mics. For the bass drum, you will need a kick mic that is designed to capture the thunderous sounds of the kick, but also a microphone that is designed to catch the higher and faster sound of the snare drum. Another consideration is the cymbals, which needs to withstand the loud and powerful crash, but also the tinny and sometimes delicate high-hat.
Search until you are satisfied before committing to a mic or brand. A good starter mic locker does not have to cost a fortune and can be built for less than $1,000. A good one can reach into the tens of thousands. As technology is constantly changing, keeping up on recording innovation is an effective way to understand where to invest your money. The important thing is to plan for what will be the most effective for you and your recording needs.