Setting up your own home studio is not a walk in the park, it takes a lot of planning, some time and effort and of course money. Now with regards to the money you could spend a lot or be wise about it and just spend on the essentials. But believe me, it is definitely worth every second and dime spent.
We have a 6-part series with our take on how to put together a home recording studio – whether you are recording music or simple spoken-word/voiceover content. That series starts here: How to Build a Home Recording Studio – Part 1
There are other great resources online for setting up a home recording studio as well. Here is a little secret from musicianonamission.com – here are the 9 pieces of equipment you need to start making those quality recordings. Find out more here: https://www.musicianonamission.com/home-studio-setup/
And here is an excellent and very complete guide from Zing Instruments: https://zinginstruments.com/home-recording-studio/