A power tool kit is one of the most common gifts for the new homeowner. But most cheap tool kits are, to be honest, crap.
The tools are cheaply made, have no power or come with batteries that don't last long. A decent tool kit is essential for any new homeowner or budding do-it-yourselfer. This DeWalt 20V set is a good place to start. $179.99 at Amazon gets you two powerful DeWalt 20V drills: a hammer drill/driver and an impact driver. That's a $20 saving off the usual price. Two drills might not sound like much, but these are powerful tools that can handle more and will last longer than their cheaper cousins. A couple of spare batteries also makes sense: Overstock has 2 of the 20V batteries for $149.99, $30 off the usual price.
If you're looking for a more comprehensive set of tools, Amazon has a set of 8 Porter Cable power tools for $399, $100 off the usual price. That includes pretty much every tool you are likely to need, from a reciprocating saw to an LED flashlight. It includes two batteries, but one is a smaller, lower capacity one. So again, a couple of spare batteries are a good idea, and Sears has these for $79.99 with free shipping.
Sears also has a great deal on this Craftsman 8-inch drill press for $59.99. That's $40 off the list price for a useful tool that makes it easier to drill clean, straight holes. That deal can't be shipped, though: you have to pick it up at a local Sears store. You can check which local store has it available and buy it online, though, so you won't have a wasted trip.
These kits are overkill for those who live in apartments since their property owner will do the big jobs. There are still tool kits that might make a good moving-in gift for them, though. This $74.99 Black & Decker kit from Amazon includes a drill, drill bits and a variety of hand tools that would be very useful for hanging pictures and doing small repairs and improvements.