For a long time crafting and DiY style art was thought of as "lame" and something that only "old people" did. Thank goodness that has started to change. More and more people are getting into scrapbooking, fabric arts, sewing their own clothing. Even needlepoint is making a huge comeback; Yahoo Makers says that needlepoint will be the "it" crafting trend of 2015.
Crafting becoming more and more mainstream is definitely a good thing. It means that finding resources to help you learn your craft of choice is easier than ever. It also means that finding the supplies you need becomes simpler and, because of the competitive marketplace, easier to afford. That doesn't mean, though, that you should always opt for the cheapest supplies you can find. The benefit of having so many options to choose from is that you can choose the very best in terms of quality.
So what do you need?
What equipment and supplies should you buy to stock up your new "craft corner"?
This, obviously, is going to depend upon the type of craft you want to explore. If, for example, you want to learn to knit, you will need some yarn, some knitting needles and something with which to cut the yarn when you're done using it. Scrapbookers will need paper, applique supplies, binding materials, etc. If you're setting up an all-purpose craft corner for kids, you'll want glue, pipe cleaners, construction paper, etc.
That said, there are some good "all purpose" supplies that every crafter, regardless of discipline, should have at their disposal.
ScissorsScissors are an important part of every single type of craft project. You use them to cut paper, yarn, fabric, etc. You will need a pair of sharp, all-purpose, scissors as well as a pair of scissors that is built for your craft of choice. For example, if you're getting into sewing, you'll need some fabric shears. These scissors are built to be extra sharp. Fiskars scissors, for example, use Razor's Edge blades for their fabric shears and seam rippers. Do not simply use those kitchen scissors! Buy scissors that are built for the craft you're actually going to be doing.
Hot GlueHot glue is superior to everyday glue in every way. It's easier to use, holds better and lasts longer. Hot glue can be used on everything from sewing projects to simple paper based crafts. It can even be used in wood shops. Make sure you choose a hot glue gun that is well built and that is suited to the crafts you will be doing. Most of the time, this is going to be a low-temperature glue gun (especially if you're going to be crafting with kids). If you're into highly specialized projects with harder or tougher materials, a high temperature glue gun is better, but don't let your kids use it!
CardboardCardboard can do more than build boxes. You can use cardboard as backing for photography, fine art and framing projects. If you have a particular sewing pattern that you know you'll use a lot, you can use thin cardboard for that pattern instead of paper so that it will hold up longer. You can pin knitting and crochet projects to it to help block them so they'll stop curling. It's also a great buffer when you need to cut things with blades instead of scissors. You can put the materials on the cardboard so that you don't risk slicing up your table or floor. It can also double as your "straight edge" in a pinch.
Measuring TapeThis doesn't really need more explanation, does it? Measuring tape is great for three dimensional projects with very specific measurements.
Pencil and/or ChalkYou will need something that can make non-permanent marks. Make sure, if you go the pencil route, to look for crafting and art pencils. Don't simply grab the average No. 2.
From here, the supplies you need will really depend on the type of craft you plan to do. It is okay, from here, to go slow and to buy supplies based on what you need. This way you can try your hand at a variety of crafts without worrying that you've spent a ton of money on something that you don't enjoy. Talk to experienced crafters in your niche and see which tools they especially recommend!