yeah..
at this stage, i feel like you're wanting to know about the room....not necessarily what tools to buy (dremel, air compressor, etc). along the way you will slowly accumulate these.
my ideas (some mentioned so far, some not)
lights: i have halogens. they are hot little devils, but only close up. and they give nice several nice foot candles of white light. i have some small guy with a few hockey puck lights...along with four flex arm desk lamps. these are helpful for modeling purposes, but may need different light angles when you decide to photograph your pieces.
closet space: you'll end up accumulating lots of stuff. lots of tools. lots of kits. your place will feel much more clean and productive if the stuff you typically don't use is tucked away in a closet (but should be easy to get to). shelves are nice....but too many shelves end up looking like a flea market or your crazy grandma's kitchen.
table space: layout area is a must. sometimes you'll have a kit in the middle of construction, another one in the midst of painting. and you'll want some extra area just to throw down material---be it a new kit you just bought, some research material, or your laptop.
foot switches. these are my favorite trick. little step switches (can get them at wal-mart fairly cheap. hook your air compressor into it-so you don't have to reach down while trying to balance your airbrush. hook all the lights (of one station -- painting or construction) into one of these....its a lot easier then hardwiring. no forethought...and no worries about resell value.
empty walls. this is akin to the closet space. in art, negative space can be just as important. as well. this space may be used for some kick ass poster...or future display cabinet that you haven't found yet.
chair. DO...NOT...SKIMP...ON ...THE CHAIR. your ass will thank you later. i spent a couple weeks driving around town lookign for mine...and paid nicely for it. it should have wheels. it should have a little reclining. it should have arms. and it should tear easy (in case you drop a blade or hot chemical on it) like some webbing like chairs nowadays
floor. this may be common sense, but fear carpet. go with a tile. or if you can...just keep the concrete floor (if its a poored concrete basement floor). the bare concrete floor will be easy to carpet later (resell value). try to paint the floor something that will show little pieces. something light colored...but not white. your choice.
outlets. code may ask for 12' oc. or 6' from corners.....make it tighter if you can.
glass. this is KINDA a tool, but more environment. i'm always trying to produce nice right angles. nothing does that better than a nice big piece of thick glass along with some machinist squares. wood table tops will never be perfectly flat. this glass comes in handy later also (putting down tape when your cutting exact pieces to mask, or mixing oil paints, etc.
lounging. not sure how much room you have....mine is fairly small. but i still have a second "area". i have another mies low loungy chair, a side table, and a reading lamp. sometimes you just want to push away from the work bench, but yet still read some modeling material....and maybe have your laptop or movie going on nearby. your mancave doesn't have to be 100% modeling. besides if you have your wife/gf/whoever come visit you...they shouldn't feel like they HAVE to leave. this extra area is a "low traffic" area where "civilians" can sit on the sideline.
bins. i have these in the closet and under tables. you'll find out that everything you accumulate will not fit nicely onto a shelf. i have lots of scratchbuilding greeblies, small batches of rtv/resin, tools,...just sitting in bins. these bins are usually in the 8"tall, 24" deep, 18" range...and stacked 3 high. also have your smaller bins nearby ...on your tables. these can hold your more frequently used, and smaller items.....paints, sandpapers, airbrushes & tools,
paper. i make a mess. i actually got some nice office furniture, but i laydown some cheap paper down. here its called painters paper. looks like the paper that paper bags (from your grocery store) are made of. you can get it at lowes/h'depot for a few dollars for a big roll. it keep things tidy (from paint, dust, solvents) and easily removable (i usually just tape mine to the table).
i hope this helps.
quincy