I currently own these
50kg Barbell / Dumbbell Set - Bars - Free Weights - Strength | Workout World?
+ a York Gym Bench
I'm working on a budget here and don't want to spend more than $500. I was thinking of buy this squat rack
TREADMILL WAREHOUSE - Exercise Fitness BODYWORX - BODYWORX ADJUSTABLE SQUAT/DIP STAND - Benches
But then I would need to buy some more weights which could start to get expensive. Or should I sell the barbell + weights I currently have?
Could anybody link me to some cheap, good quality equipment to set up a small home gym? I'm looking at doing starting strength.
I have that squat stand, it is solid as fuck and rated to 275kg. I probably wouldn't trust it with quite that much, but it is still just fine. The only issue is to put on a 7 foot bar you have to disconnect the bottom. This is a bit of a pain but I put some weights on them to stabilise it and it is ok. I had to get one like it cause of space issues. You can't really use it for chin ups cause it doesn't go high enough. I do chin ups off a ceiling beam under my house, or my bedroom doorway, which is just fine.
If I was you I would get that stand, but you will need a new bench cause ur bench (I'm betting) is only rated to around 200kg (including user weight). This will depend on your stats, but for me at 100kg bodyweight I reached 100kg bench press (from 60kg) in about 3-4 months and had to replace my bench.
As for weights and a bar, your bar looks fine, so long as the sleeves aren't too large for the weights you will be buying.Some weights have a 27mm (or so) internal hole, and some bars are 27.5mm in diameter on the sleeves (yeah, problem). Pick up weights off gumtree, should be able to get non-oly weights really cheaply. Try and get a few +20kg plates. You should be able to pick up a cheap bar if need be with those weights.
I deadlifted up to 180kg and benched up to 120kg plenty of times using exactly the setup I've posted above and the bar never bent, nor did I ever feel unsafe on the squat rack. So long as you don't drop the bar from height with 150kg+ on it onto the rack you should be fine.
Cheap ass option:
1 bodywork squat rack - $300
Extra 100kg of rusty non olympic weights so you have 150 total - $100 on gumtree
Total - $400. Replace your bench with a quality flat bench with a 30cm wide top for around $200-$300 at a later date.
Pretty option:
1 Muscle motion power rack - $not sure, $500?
New garage to fit power rack - $10,000
ABC olympic bar or Cheap cyberfit Oly Bar - $500 or $100
Olympic weights - $2.50 per kilo, likely you will need $300 worth, minimum.