The cost of setting up a professional recording studio at home can vary from $500 to $20,000. If you don't have an extra room to set up a studio then you will also need to rent a place, which will cost extra. The setup cost will depend on what kind of a studio you are going to build. Are you planning to set up a serious business, which can render services to varieties of customers and charge a high fee? Or is it just a simple a home-based studio to cater to the local bands for a minimum charge? Here are a few tips to help you get an estimate of how much it may cost to set up a recording studio.
Processing the room
First of all, you need to process your room in order to make the sound quality better. Remember, a normal room or your basement was not built for sound recording and therefore will need some work before it can be converted into a good recording studio. You can purchase good quality acoustic foam and stick them on walls by yourself. One case of foam will cost anything between $70 and $300. You may need around 7 cases for a 10'X10' room. You can also take help of professionals and make the room soundproof. This is an additional cost that you can undertake if you want to render a high-quality, professional service. For a low budget studio, you can start much cheaper. There are many ways to improve room acoustics cheaply or for free.
Hardware and software
Among the hardware equipment, you will need a computer, a soundboard, an interface, and a good microphone with a stand and microphone cable. The whole microphone set may cost you around $500 or less for a decent one. You can also get a MIDI keyboard, which will cost around $100 for a cheap starter keyboard. You will also need digital recording software, which may cost anything between $100 and $800. If you want something free, I recommend Audacity. Do a Google search, and you'll find it easily.
Musical equipment
It is advisable to keep a few pieces of musical equipment handy, in case your customers need to borrow something. This happens quite a bit. If you already have a guitar or any other instrument of your own, keep them in the studio. You may not need to invest in new musical instruments if you don't have much room in your budget for this. You can also consider investing into a few second hand instruments that are in good condition. Mostly, bands just want to have options in the studio. If you have some old beat up guitars, amps, and effects lying around, they are happy to tinker with them. This also increases the value of your studio, which helps you command a higher fee for your services.
Sources for the presentation: http://mewsproductions.com/full-production-services/ http://ezinearticles.com/?How-Much-Does-a-Recording-Studio-Cost? &id=2652851