The only things I'd say should be new are the car seat (unless you buy it from a friend so you know it hasn't been in an accident) & the cot mattress.

If you want to keep your costs down accept anything that anyone wants to give you for free. If you decide you don't want it then you give it to your mother or MIL for when you are visiting there - stuff like bouncers & high chairs etc. That's what we did.

If you only buy stuff when it's on sale you will save a lot of money. Avoid the baby shops completely. You will find all the basic stuff you need in places like Kmart, Big W & Target but for far less money.