I did just this during the pandemic and haven't rejoined a gym yet. I spent more than $1,000, but IMO got the most bang for my buck.
I have really enjoyed working out in the fresh air (Arnold once said something to this effect about working out at Venice Beach). You also save a lot of time not having to commute back and forth to the gym. Even on a busy day, you can hop outside for a few quick sets.
Our main home gym pieces are:
Rogue Monster Lite Half Rack
Rogue Flat Utility Bench 2.0
Rogue Monster Lite Safety Spotter Arms (I use these to stay safe during bench press, but also for dips!)
Rogue Monster Lite Plate Storage Channel
Rogue V2 Gun Rack
I have a Rogue Power Lifting Bar, a Rogue Olympic Bar, and about 400 pounds of bumper plates from Rep Fitness. The bumper plates were a bit less expensive from Rep Fitness, but just as good as the lower end Rogue plates, IMO. My old gym had Rogue bumpers and I haven't seen much difference. We also have two plyoboxes, one purchased locally and one on Amazon from Rage Fitness, which are both adequate.
Please feel free to DM if you have any questions. You can check out our setup here if you like:
https://www.instagram.com/atlifter/