In reply to KrisBurns:
Exercise bikes reduce what should be fun and healthful (the expenditure of calories), in to a miserable chore.
It will indeed become an expensive clothes horse/wardrobe within a year.
What are your goals? A rower (Concept 2), might be a better choice if you've a competitive side as there are forums to challenge/motivate yourself. But machines will gather dust....
A barbell with heavy plates and a suitable set/rep scheme is generally/usually the wisest purchase if you really want to go down the route of a home gym. Don't think you can't get fit, lean and mean with bodyweight fitness.
Depending on goals, I'd recommend you get a cheap bike and cycle outdoors all weather, or some trainers and walk/run. In winter get some gloves and a waterproof.
Post edited at 10:09