What features/functions should I be looking for when buying a multimeter for this hobby? What are the best quality brands I should be looking out for (if that matters)? I don't need one, as everything of mine is fully functional, but I want one because one day I'm sure it will come in handy.
Get a cheap one from Harbor Freight for like $7 or less. I've used it for laser tweaking amongst many other standard things.
Something like this will do you fine. http://www.amazon.co.uk/DIGIFLEX-Te...TF8&qid=1448917213&sr=8-2&keywords=multimeter
Get one that beeps when checking continuity. Mine doesn't beep and it's the most annoying thing ever.
^This. I think have an Extech MN36. I love the continuity beeper when I'm questioning traces or just generally trying to map out where things are going.
for general stuff a cheapie is fine, then after a while upgrade to the next price bracket. Generally you shouldn't need a MM that's over the $100~150 price bracket for hobbiest stuff like this
Don't rely on what anyone on here would tell you. This isn't an electronics forum. On such a critical piece of equipment, where a bad meter could both destroy your equipment and put your safety at risk, you want a range of views from serious electronics nuts who work with the $10000 equipment, and can really tell you how it is. It cares much more how it's built and what components they use than what features are listed on the box. There's plenty of good comparisons and reviews of meters in different price brackets on lots of sites out there. I'd pay particular attention to the eevblog forums. Personally, I stalked ebay for 6 months to snag a secondhand Fluke 117 for $100. That's a meter you can't beat, and it'll still be going strong in 30 years time. Apprentice electricians are all packing these meters, so they're always going secondhand, you've just got to be patient and you can score a cheap one at auction. Don't rule out this route, a good industrial grade meter that's been used 8 hours a day for 10 years straight will still be as reliable as the day it was made, and much better than a disposable meter, usually for not too big a price gap.
As somewhat of a rebuttal to what Nemesis said - If your range of work is going to be limited to continuity testing and checking things at or under 5v 1.5 amps, you could probably get away with a cheapie. I bought my first multimeter at a pawn shop for like $10. I have since upgraded to a rather heavy duty one, but my hobby has also increased in scope (and voltages...and amps....) beyond small consoles. That being said...to back up what Nemesis said - How about "safety first?" I'll second the eevblog forum. You can check out Dave's YouTube videos on multimeters to get a grasp on features that are available as well as safety concerns (fuses, Classes, etc). If that doesn't give you an idea of what to get for a price you are willing to pay, you can get a bit of guidance by posting on the forum. If you go that route, tell them what your application is so they know what features you need or don't need.
Don't rely on cheap stuff too much. The ones you get free from Harbor Freight, those are something I keep in my drawer until someone ask to borrow my meter. I almost never get it back, they always forget to return it. I am using one I got from Radio Shack almost 30 years ago and it's been going like that pink bunny. I did have to take it apart once to clean the switch contact, it was having trouble turning on certain mode.
Electrician here, I always keep handy a analog Multimeter and a Fluke 117. I honestly would not trust any walmart/harbor freight meters when it comes to low voltage.
The extech ex330 is good for less than half the price of the fluke 117. good reviews from Eevblog blog too. What an electrician needs with being able to safely work with high voltage is different to someone working with like upto 20v. You really don't need a fluke for doing the stuff you will be doing in modding. But also don't go on the stupid low end either
The Fluke will probably last for a long time though - I have a Fluke 79 Series II meter that's at least 20 years old, and which has been repeatedly dropped, kicked across the floor, overloaded, etc. It still works - it's also still in spec, which is pretty amazing.
I will be getting a fluke eventually, but it really depends on your use... Justifying the cost of a fluke for someone just checking some continuity or something is just insane.
The $7 Harbor Freight MM works great for Gamecube pot tweaks and for finding/verifying source voltages on boards. I will say however that it does NOT have a battery compartment, at least not the model that I have. So once it's dead, it's dead and time to replace it. For that reason alone you might want to consider spending a tad more on one where you can atleast replace the batteries in it to keep it functional. Fluke is a great brand name, but a tad on the expensive side if you ask me. It's expensive because it's quality, so you can't go wrong with a Fluke device if you can afford it. It really is more about if you are going to be a power user or a weekend warrior. My rule of thumb with ANY new tool purchases is start cheap at harbor freight and tool. If and when I break / wear out that device, then I upgrade to something more brand name like a Craftsman or a Fluke that will cost me more.
If you go for the Garbage Freight multi-meter (not really that bad for the money) look out for the coupons where they are given away or at least half price and use that money saved to buy a better 9v battery for it.