Whether you rent or own your home, having a nice set of tools is essential for in dealing with those small house projects and emergencies. You don't necessarily need a huge tool box or fancy tool belt, just a small set of quality tools will do:

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Claw Hammer
Hammers are measured in ounces. The higher the the number the heavier the hammer. Anything over 16-ounces is overkill. If you only plan to use it to hang pictures in your home, stick to eight-ounces. And stop pounding nails into the wall with the handle of the screwdriver; it screws up handle and it's dangerous.

Pliers
Pliers are for gripping just about anything, and are probably the second most important tool in your arsenal. If for some reason you don't have a pair of pliers, pick up a pair with an arc joint. The adjustable joint lets you grip a larger variety of items.

Needle Nose Pliers
Needle nose pliers lets you grip difficult to reach items that regular pliers can't reach. You can also use them to retrieve items you drop down holes and crevices.

Wire Cutter/Strippers
Handy for tackling speaker wires and is better for cleaning up that frayed mess instead of using a butter knife. Wire cutters are also handy if you start advancing your home-fixin' skills to electrical. NOTE: If you do start working on your home's electrics, always remember to shut off the circuit breaker.

Multi-Screwdriver
Screws are everywhere, so it's a good idea to go with four screwdriver heads instead of just one. Be sure the multi-screwdriver you buy has flat-nose and phillips-head bits.

Pocket Knife
From cutting, stabbing and chopping, a nice pocket knife not only makes you feel cool, it's useful. And it's keeps your kitchen knives in the kitchen where they belong.

Adjustable Wrench
It's adjustable, meaning it handles the metric and standard measurement system. A few turns and you can attack most nuts and bolts in your home. The six-inch version should be more than sufficient. So there's no need to buy a full wrench and socket set, unless if you're a mechanic.

Flashlight

A quality flashlight will be a godsend during those sudden blackouts. You might also want to get a small, cheap LED flashlight and place it under your desk and behind your TV. It'll come in hand when you have to plug and unplug any cables.

Tape Measure
Many a person has returned from the furniture store with a large piece of furniture that doesn't fit in their home because they didn't have a measuring tape. Don't be that guy! We recommend a 25-foot measuring tape.

WD40
This lube will fix anything from squeaky doors to stiff gears on a bike. WD40 will also displace water and if you allow it to soak in, it'll help you break loose those rusted nuts and bolts.
Once you've completed the list, find a proper space in your home to store them. Because there's no point in buying a tool if you can't find it when you need it.