Outline a budget for your studio before you begin purchasing equipment. If you are operating with limited financial resources, consider purchasing audio software instead of hardware equipment. Although digital software is still unable to fully capture the "warmth" provided by analog equipment, professional results can still be obtained. The expenses associated with audio software are significantly less than the cost of purchasing hardware units. If you plan on equipping your studio with software workstations, you will need to purchase an audio interface. Companies such as PreSonus and M-Audio sell audio interfaces that connect to your computer with a firewire cable.
Determine what type of music you plan on producing. Each genre of popular music uses specific types of microphones and hardware. If you plan on mixing and recording electronic or hip-hop music, consider purchasing a digital audio workstation for your computer. Programs such as Reason or Logic are equipped with a variety of drum machines and synthesizers that replicate the sounds you find on popular recordings.
Purchase microphones that can record the vocals and instrumental tracks you plan on using in your recordings. Acoustic drum sets require microphones designed to capture the sharp percussive sounds produced by snare and kick drums. Rock musicians often record vocal tracks on microphones designed to reduce extreme high- and low-range frequencies. Although microphones are available in a variety of price ranges, professional results can be achieved for reasonable prices. Websites such as Sweetwater offer a wide collection of microphones for purchase and provide a variety of technical specifications and reviews of each individual product.
Purchase a recorder if you do not plan on using a software workstation in your studio. Multi-track recorders use audio tape or hard drives to store recorded audio. Recorders are available for purchase at any large audio-equipment retailer. Connect microphones to your recorder or audio interface using XLR cables. If you plan on using electrified instruments with your equipment, you will need to purchase instrument cables as well.
Place your equipment in your studio and determine where your microphone recording will take place. Sound-proofing foam is often placed around recording areas to dampen vibrations and reduce unwanted noise. During the mastering process, this microphone isolation will result in high-quality final results.
Purchase a pair of speakers that you will use to monitor the quality of your mix. Studio monitors are designed to replicate the exact equalization settings of your mix. A standard pair of studio monitors will cost around $400.