A drill bit set is one of those purchases you make once and then forget about until a bit snaps in the middle of a project. If you're on a tight monthly budget, the goal isn't the cheapest set on the shelf — it's the set that doesn't need replacing by next spring. This guide focuses on what these sets actually cost you over the first year, because a $12 set that dulls in a month is more expensive than a $19 set that lasts.
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The biggest mistake: buying the biggest set for the lowest price
The classic budget trap is the 100-piece set for under $15. It looks like incredible value in the aisle. What the specs usually reveal is that most of those pieces are tiny, low-grade bits in sizes you'll almost never use, and the few sizes you do use are made from the softest steel in the box. Owner reviews on bargain mega-sets repeat the same story: the small bits snap, the larger ones round off their edges after a handful of holes in wood, and the case hinge gives out first.
If this helped, you'll also want to read Drill Bits: Worth It or Waste? Honest Budget Math, Best Cheap Clamp Sets for Small Woodworking Projects and Best Cheap Drill Bit Sets That Don't Snap (Budget Kits).
That's the first-year cost problem in a nutshell. A set that costs $12 and dies in two months means you buy again — often twice — before the year is out. Add gas or shipping for the replacement run and you've spent more than a decent mid-grade set would have cost upfront.
The second mistake is buying the wrong material for the job. Black oxide, cobalt, titanium-coated, high-speed steel — these aren't marketing words, they describe what the bit can cut and how long it holds an edge. Buying cobalt bits to drill pine is wasted money. Buying black oxide bits to drill into metal is a fast way to ruin them.
What actually matters
- Material match. High-speed steel (HSS) handles wood and light metal. Black oxide is a step up for general use. Cobalt is for hard metals and stainless. Titanium coating adds surface life but doesn't fix a soft core.
- Bit geometry. A brad-point or split-point tip starts cleaner and wanders less. Cheap sets often skip this, which shows up as walking bits and oval holes.
- Size coverage where you actually work. Most household jobs need a handful of sizes — pilot holes, anchors, a few wood sizes. A set with 20 useful bits beats one with 100 filler bits.
- Storage that survives. A metal index or a sturdy case protects edges. Flimsy plastic cases let bits rattle against each other and dull.
- Replacement cost per bit. Divide the set price by the number of bits you'll genuinely use. That number, not the sticker, tells you the real value.
- First-year math. Factor in at least one replacement or single-bit top-up for any sub-$15 set. A $19 set that lasts usually wins.
Bosch Daredevil Set
Typically around $15–$20 depending on the size and where you buy. This is the set most reviewers point to when they want a general-purpose bit that doesn't wander on wood. The Daredevil line is known for its brad-point tip and self-feeding design, which owner reviews consistently say starts cleaner and drills faster in softwood and plywood than generic bits.
The real downside: it's a wood-focused line. If you need to drill metal regularly, this isn't the set for that job, and the price per bit is higher than a bulk HSS set. The case is also basic on some configurations.
Who should buy it: the renter or homeowner doing furniture assembly, shelf hanging, and light woodworking who wants bits that start where they're aimed. For that crowd, the first-year cost is essentially the purchase price, because the bits hold up.
DEWALT Black Oxide Set
Usually in the $15–$20 range for a modest piece count. Black oxide is the sensible middle ground: harder-wearing than plain HSS for general drilling, and fine for wood, plastic, and light metal. The specs show a split-point tip on many sizes, which helps prevent walking.
Downsides are honest ones. Black oxide is not cobalt — it will struggle with stainless or hardened steel, and forcing it there dulls the edges fast. The piece counts on budget configurations are modest, so you may still need to buy a couple of larger sizes separately.
Who should buy it: the all-rounder household that drills a bit of everything and wants one set that covers the basics without paying cobalt prices.
IRWIN Cobalt Set
Typically around $18–$20 for a small cobalt set, and this is where the first-year math gets interesting. Cobalt bits cost more per bit but hold up far longer in metal, so if your projects involve brackets, hinges, or anything steel, the per-hole cost can come out lower than repeatedly replacing cheap bits.
The trade-off is size coverage. At this price you're getting a small set, not a full index, and cobalt is brittle — owner reviews often mention snapping small-diameter cobalt bits if you lean on them. Use cutting oil and light pressure.
Who should buy it: anyone whose drilling is mostly metal, or who is tired of dulling black oxide bits on steel brackets.
Neiko HSS Set
Usually around $12–$18 depending on piece count, and one of the better value plays for sheer coverage. High-speed steel is the workhorse material for wood and light metal, and a larger Neiko set gives you more sizes for anchor and pilot-hole work than pricier small sets.
Downsides: HSS is softer than cobalt, so it dulls faster in metal, and large budget sets often include filler sizes you'll rarely touch. The case quality varies by configuration. Reviewers often mention that the most-used sizes wear first — which is normal, but worth budgeting a few dollars for singles later.
Who should buy it: the budget-conscious buyer who needs a wide range of sizes for wood, drywall anchors, and occasional light metal, and who accepts that a couple of bits may need replacing within the year.
DEWALT 27-Piece Hex Key Set
Typically under $20, and easy to overlook — but hex keys are the bits people forget until an IKEA-style assembly stalls. A 27-piece set in both SAE and metric covers almost every furniture and bike fastener you'll meet. The specs show a folding or organized holder depending on configuration, which keeps sizes findable.
The downside is that hex keys aren't drill bits — they're for hand-turning or driver use, and thin keys can round off if you over-torque them. Cheap keys strip bolt heads, which turns a $15 saving into a much bigger repair.
Who should buy it: anyone assembling flat-pack furniture or maintaining a bike. It's a first-year cost saver because it prevents stripped fasteners.
Comparison table
| Product | Price | Best For | Key Pros |
|---|---|---|---|
| Bosch Daredevil Set | Typically $15–$20 | Wood, furniture assembly | Clean starts, brad-point tip, holds up |
| DEWALT Black Oxide Set | Usually $15–$20 | General household drilling | Versatile material, split-point tip |
| IRWIN Cobalt Set | Typically $18–$20 | Metal and steel work | Long life in metal, better per-hole cost |
| Neiko HSS Set | Usually $12–$18 | Wide size coverage on a budget | Many sizes, low upfront cost |
| DEWALT 27-Piece Hex Key Set | Typically under $20 | Furniture and bike assembly | SAE and metric coverage, organized |
The bottom line
For most budget households, the smart first-year move is a black oxide or HSS set in the $15–$20 band — the DEWALT Black Oxide Set or Neiko HSS Set — paired with the DEWALT 27-Piece Hex Key Set for assembly jobs. If your work leans toward metal, spend the extra few dollars on the IRWIN Cobalt Set; the per-hole cost usually beats replacing cheap bits. Skip the 100-piece bargain boxes. Paying a little more for a set that survives the year is the cheaper choice, every time.
Frequently Asked Questions
Is it worth spending more than $20 on drill bits?
For most household jobs, a set in the $15–$20 band covers wood, light metal, and assembly work. Spending more only pays off if you drill metal regularly, where cobalt bits hold up longer.
What's the difference between black oxide and cobalt bits?
Black oxide is a general-purpose coating good for wood, plastic, and light metal. Cobalt is harder and meant for steel and stainless, but it costs more per bit and is more brittle.
Do I need both a drill bit set and a hex key set?
They do different jobs. Drill bits make holes; hex keys turn hex fasteners on furniture and bikes. A budget kit with both prevents stripped fasteners and saves a second shopping trip.