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Not only is the TCG into riding bikes, but we are also into learning to maintain them as well! Lots of people ask "What basic bike tools should I buy so I can do simple jobs at home?"
We have learnt loads from several handy people in the TCG, So here is some of the "passed on knowledge" in the form of what tools to buy to become largely self-sufficient at home. Once you start doing more than 2000 miles a year on the bike, its nice to be able to do simple things at home, such as change your chain and cassette, change cables and swap out worn out wheels.
More complex tools, such as those required for wheel rebuilding and changing press-fit bottom brackets (due to there being so many different standards and needing quite expensive tools) are left out of this, and we would recommend still using your friendly local bike shop for the complex stuff.
You need a decent set of screw drivers, spanners and socket set, and some really nice Allen keys - but this guide assumes you already have those and are ready to buy more "bike specific" tools. A rubber mallet for Hollowtech or GXP bottom brackets as well would also be good.
Park Tools are unashamedly mentioned here, because they awesome, not really that expensive, and will last you a lifetime.
Bike Stands
No 1 purchase for any bike nut, is a bike stand - so useful for just cleaning the bike, and makes doing things like changing brake pads and adjusting gears so much easier.
Something like this would be ideal.
Changing cassettes in order to swap wheels or to change the cassette itself.
You'll need a chainwhip to hold the cassette in place so it doesn't spin around....
While you put this tool into the cassette, and put an adjustable spanner (or spanner, or large socket) and turn this anti-clockwise to undo it.
http://www.chainreactioncycles.com/park-tool-cassette-lockring-tool-fr5/rp-prod7213
Changing chains (also very useful in case your chain ever breaks! Heaven forbid!)
Here is the tool for splitting your old chain. Very well made for use at home, but also quite small, so can be taken out on rides as well for piece of mind in case your old chain breaks. Also worth keeping some spare "quick links, or master links" with you at all times. A good place to keep spare chain links is on a keyring, as you are quite likely to have them on you!
This set of pliers makes re-joining the chain really, really simple, you hardly get your hands dirty!
http://www.chainreactioncycles.com/park-tool-master-link-pliers-mlp1-2/rp-prod109888
Changing brake and gear cables
A really nice set of cable cutters makes this job a doddle. Always worth having a go at changing them. With this tool you can easily snip through the inners and outer cables, with a nice clean finish. Basically, if you can thread a needle, then you should be able to easily change the cables on your bike!
http://www.chainreactioncycles.com/park-tool-cable-cutters-cn10/rp-prod7202
Bottom Brackets
Ok, ok, I said this wouldn't be covered, but if you are lucky enough to have a Shimano Hollowtech or SRAM GXP external bearing style bottom bracket, this job is EASY with one of these, and literally takes 5-10 minutes max.
Unfortunately, many modern bikes come with "press-fit" bottom brackets, such as BB30 which mean you need to smack them out instead with a lot of a strength and with a rubber mallet, so press-fit bottom brackets are recommended for the bike shop to do instead, which is not good for the DIYer. A Lot of people don't like press-fit bottom brackets for that reason. It does seem odd to have to hit your expensive carbon frame about!
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