Setting up a kit of plumbing tools can be very helpful for you. I recommend you to use internet as a support in order to create a small set of plumbing fixtures. Just start your favorite search engine and type some words related to this topic such as a basic tool set of plumbing fixtures. The list of results that you get is very useful. Visit some of those sites and very quickly you will build your own list for future needs.
Here is a list of those basic items we must keep at home: Tongue-and-Groove Pliers, Hacksaw Metal File, Pipe Wrench, Adjustable Wrench, Tubing Cutter, Plunger, Closet Auger, Fire-Resistant Cloth, Eye Protection Lens, and Propane Torch.
Of course there is a lot of fixtures and tools that you can buy but I do not recommend you to purchase all of them. You may not even know how to use them if they are too sophisticated and specialized. If you go to a hardware store you may feel that you need all the products you see there. It is very probable that you will have a plumbing issue that will require most of the tools in a hardware store. The point is that those problems happen very seldom.
After some years you will have enough experience to know which tools are the most used. After solving the most common plumbing problems you will be able to discriminate which fixtures are utilized the most. Make a list of those tools that are not used and get rid of them. Also make a list of those ones that you found the most needed and take good care of them. If somebody requests you to borrow some one, then take it as information for you. It means that tool is valuable.
If you get a request to borrow some tool then try to get a second one. Borrowing request means that tool is used for some house plumbing issue. Also it may happen that you do not receive it back. Instead of getting upset, learn from the experience and do two things: firstly, buy a second one and secondly, do not borrow something else to that person until you get your tool back. Do not spread out the fact that you did not get the tool back. There are persons who will ask you to borrow them some tool and they will give it back to you.
Having a small set of plumbing tools has several good effects. One of them is that you will speed up the solution of most of the simple plumbing problems that show up every day. Another one is that you may become a well known person for his willingness to help people to solve easy plumbing problems by borrowing tools. Either way you will not regret of setting up a set of basic plumbing tools.
Roger Banta developed a site named plumbing supplies to be shown. This page contains good guide for second hand plumbing supplies that can help you.