Setting up a home photography studio?

I currently use a d5000 nikon with a 50mm 1.4 and this week i will be purchasing a sb-600 flash… Anyways i wanted to take pictures of my family and i want to create my own home studio… Where do i start? And does a 50mm with a sb600 flash go good together? My budget is under a 300 dollars… I'm using my formal living room… And i don't know what backdrop to get.

YN-460 flashes on ebay are manual only flashes built for off camera work… And cost 45$ each. I own a bunch of these and they are pretty good. Would i like to have a kit of bowen studio strobes? Of course but these little units are cheap, light, don;t require power outlets… They are just awesome.

Get them on ebay. I can get a full studio kit (flashes.triggers, backdrops, stands, umbrellas… ) for about 300$Can.

BTW, I own the setup I'm suggestiong (give or take a few slight differences).

Get 2 YUNGTUO YN-460 shoe mount flashes (or more… I'm about to order a couple more). They are in expensive (43$) but work great. They just don't have any of the fancy features you would use for on camera lighting but since this is for studio lighting it doesn't matter,

Here on ebay: http://cgi.ebay.com/...4169wt_905

So that's 86$

Get a couple of lightstands (50$ total)
http://cgi.ebay.com/...3103wt_905

Get some unbrella holder and umbrellas (32$ each)
http://cgi.ebay.com/...3105wt_905

Get some remote triggers (30$)
http://cgi.ebay.com/...3634wt_905

Then you can get a background kit with a grey motled backdrop like this one: (55$)
http://cgi.ebay.com/...885wt_1139

So around 300$

You'll eventually want to add more receivers, get 1 or 2 more flashes, get a black umbrella, maybe a soft box… But the kit above should serve you well to start.

I'd suggest getting a demo kit of gels… So you can gell your background flash (25$)

Here are some shots I did with a similar kit (no gels).
My website is a bit of a mess but here is a shoot I did for some model portfolios:
http://www.evildaystar.ca/blogs-eng.asp?b=20110216

Here are a few more from some weddings:

The nice thing with this kit also is that it doesn;t rely on the availability of power outlets so you can bring it to an outdoor shoot and not worry.

Anyways, good luck.

A decent studio setup is going to run you around $10, 000.

I think you can do a decent budget studio for around $1, 500, but I don't think you are going to be able to get something that will work on your budget.

I would suggest looking for something used on ebay, or renting a studio out on a case by case basis for when you need one. Depending on where you live, there's probably a studio available for rent.