I trained in my home gym for about 4.5 years and once in a while would venture to a commercial gym and pay for the day. Muscleworks in Bethnal Green was great for this as it was only £5 (bargain in London) and has a ton of equipment.
Anyways I loved training at home because: you can play what music you wanted, not have to wait for anything, not have to put up with any tossers, make as much noise as you wanted and even train in your underwear. Also eating a decent meal quickly after working out is easier.
By the way - A Big shout to my old home gym training partner Amil Smith, now that guy knew how to train hard - good luck with the MMA.
I bought a power rack (VERY important as I didn't want to kill myself when I couldn't lift the weight), an olympic barbell set, adjustable bench, adjustable dumbbells (short and long handles - I could load it up to 65kg with relatively small diameter plates). The power rack had a chinning bar, therefore I had everything I needed to train each muscle group. I bought all my equipment here at Body Power in Northampton.
I miss my home gym, the only reason I stopped was because I moved in with my missus and funnily enough couldn't convince her to have it in the living room (garage too full of junk and no spare rooms downstairs). I really need to earn some more dough to buy a bigger house.