DAW (Digital Audio Workstation)
If you want a home recording studio, you must purchase software to record and produce your music on your computer. There are several great options, and they all have pros and cons.
Regardless of the digital audio workstation you purchase, it should enhance and streamline the music-making process. Some great options include Pro Tools, Bitwing, Ableton Live, Reaper, Logic Pro, and Cubase.