What would I need?

I have always loved music, and now I have finally decided to try and actually make some. What I was wondering was, what would I excatly need to build a home studio. I just need to know what would I need to Record vocals, and make beats. Also, how much do you all think it would cost to make a home studio?

If you doing Hip Hop here is a simple but powerful setup

1.MPC 2000XL (Center Of Studio/ Sequence, Program Beatz) $2,300 fully loaded

2.Reason 3.0 (Sounds Out the Azz, u can control it by using MIDI and yo MPC)
$349-400 bucks

3.Cubase SX 3.0 (Recording Vocals, Beatz) $599

4.Sound Forge 8 / Recycle 2.0 - $299

5.Mackie Mixer - $200

6.EMU Sound Card 1212m - $189

7. Rode NT 1 Microphone - $199

8. Music Computer - Oh, and you may need to upgrade and buy a NEW computer of course. Depending if you got like 2.4 Ghz with 1 Gig of Ram right now. $1200 http://www.tigerdirect.com

I do not work at any of the above companies, so don't take my prices as gospel! Do your own homework and find the best deals you can!

Hear is a starting point at least , http://www.zzsounds.com

One

So which one would I have to buy first?