Small Home recording studio - Need your help

dear guys, i am not very much aquainted with the rigs and pics of home recording studio. kindly help me to go ahead. i have pc , reaper programe installed,casio beginers midi keyboard, a normal mic, a set of multimedia speakers, if i purchase a interface and a set of monitors will it enough for me to go ahead, (planing to buy a usb midi keyboard with in a month and learning midi in reaper) about console, i do not know. i have seen it and read about it in web only. should i buy console? if i buy a console shall i drop interface? in my home (@Chennai , India) i have two small room of about 50 sqft each. i decided to convert one for isolation and other for controlling. being a typical middle class family person and not having more money to spend, kindly tell me what equipment additionally i have to purchase (mic, headphones, cords )for my home recording studio? Awaiting :)