I'm planning on doing the exact same thing, plates are expensive though, but its so much more hard core only training with a power rack at home than going to a gym.
yea, each 45lbs plate cost me £35
i already had the smaller plates from before.
It costs 1 british pound per pound of iron if you buy more expensive plates like the "golds gym" plates which have handles, i just got york plates, aslong as they weigh 20kg i don't care