I'll chime in simply because my context is very similar to yours. I was/am a woodworker. I'm not quite sure how I started down this rabbit hole but This Old Tony has a lot of explaining to do
I first bought a mini-lathe because A) I could afford it B) it didn't take up a lot of space and C) I thought it would be a good machine to learn on.
I quickly found out I had bought a complete lemon and sold it. I kept my eyes peeled for a decent used machine. I managed to find a one owner South Bend 10K with a 48" bed. It was in pristine condition and I bought it. I learned a ton with that machine and only sold it because its horizontal drive system took up a huge amount of space in my small shop.
Shortly after finding the South Bend I found a used round column mill made in Taiwan. It was also in excellent condition. I added a 3-phase motor and a head alignment system so that I could raise and lower the head without losing X/Y position.
I sold both of these excellent machines in a fit of pique when I became very frustrated with how much room the took in my small shop.
I found that I missed having them so then bought a 12x24 Clausing 100 lathe that was also in excellent condition. I added a brand new PM30-class mill to the mix. Retooled both machines. The lathe lacked a quick change gear box so I was on the hunt for a lathe with one.
I lucked into a 1980's vintage 12x37 Taiwanese machine that needed a simple repair. I jumped on it, fixed it and could not be happier.
As
@matthewsx mentioned I'm now converting the PM30 mill to CNC.
The upshot of all of this is that my journey from mini-lathe and round column mill gave me a good grounding in basic machine operations
and the confidence to take on repairs and modifications to the machines I now own.
Lastly, moving machines into basements is not a trivial exercise. My 12x37 lathe is a solid 750-800 lbs. and I would not want to wrestle that into a basement. The mill would be easier as I could disassemble it into manageable pieces. If you have the opportunity to put larger machines in place during construction it could be a bonus.