In reply to mitchellbowen1990:
Ebay is good for used components, you can tell the ads from the pikeys selling thieved kit and those from enthusiasts. If you're lucky you get for 20-30% of the price otherwise 50-60% seems about right for XT level kit.
Be careful on wheels. Most people sell them because they don't want them anymore. Some will be ok, some will not. Hubs can be serviced and as long as they are not visually damaged you can overcome any bearing issues.
I've just re-built my bike and got new wheels built for me on hope hubs I bought separately on ebay - separate is a good way of getting a deal. I also bought a new hope headset as the used versions were quite pricey.
I wouldn't skimp money on wheels, bottom bracket or headset. Otherwise loads of stuff going. Give yourself a time frame to build the bike over and don't get in a buying frenzy, have a budget, be patient.
I did invest in a workstand and a set of tools - begrudgingly, which is a long story due to some unwanted vouchers - the workstand issue can be overcome with carpet pads and rope hung from a garage roof.
The best tip I can give is to have a carpeted workshop area, you can always roll it up when not using it. Easy to find stuff if you drop it, can be vacuumed so it isn't covered in dust like most garage floors good if you drop a greased washer/nut, protects bike.
Also, if you don't get the stand, use old cushions or similar to protect cranks, forks, rear stays when you rest if on the floor if putting in headset cups or similar task requiring force.
The one item that has come in useful is the Icetoolz set I got from Evanscycles. £49.99 and v well equipped.
http://www.evanscycles.com/products/ice-toolz/essence-tool-kit-for-home-mec...
I prefer buying from my LBS but this was a good deal and my vouchers forced me to do so.
If I had to choose between a workstand and good tools - tools everytime.
Lastly - lubricants. Despite the marketing people, you only need about 3 types so speak to your LBS and get these in BEFORE you start. Otherwise you have to stop halfway through something and wait for the shop to open on Monday before you can carry-on.
Not that I've done it