I see value in both having a gym membership and working out at home. I do both. Works for me.
At the gym I get to use a treadmill for running and intense powerwalking workouts, which I love. I also use the exercise machines to work the lower body, so this complements working out at home with free weights. At the gym, the stability f the machine suports me and I can really heavy up. At home, free weights allow for a wider range of motion and more combo moves: like mixing a rear lunge with overhead press for example.
At home I get more cardio options, using Cathe's step routines and circuit DVDs by Cathe and Kelly Coffey Meyer. At home, I can vary lifting styles with these same two instructors and I have access to equipment my gym does not have like exercise bands, tubing and stability ball.
The only way I can make this happen is because my gym, Planet Fitness, costs only $10 per month. More than that, I could not afford. Look to your finances first: can you afford monthly fees? Secondly, are you excited as you walk through the gym door at the chance to work out with the equipment there? if not, than it isn't for you. You can take your downloads to the gym, no trouble.
Clare