Hey I am new to home recording. I know a little bit but not much. Not sure if this is the kind of forum to post a question like this or if it has already been asked but I'll throw it out there anyway.

I want to create my own home studio and could use some help on what gear to stock it with. What I mainly want it for is vocals (singing along with guitar and rap vocals), acoustic guitar, and light electric guitar. I originally thought that all I needed was an external soundcard with built in pre-amp and a decent mic. The more research I do however leads me to believe that I may need more. I also don't know anything about which manufacturers are good. I do however have a tight budget so I'd like to keep it cheap as possible (without totally disregarding quality). If anyone has any suggestions, I'd appreciate it.