Drill presses can come in handy for a lot of DIY projects, but if you won't use one all the time, it can be tough to justify the immense cost. If you're not afraid to build one yourself, it's possible with PVC pipe.
This tip comes via Instructables user amjohnny, and it's complicated, to say the least. All in, you'll be using nearly 50 pieces of PVC, plus a few other odds and ends, including a dremel drill. The instructions are very clear and precise though, so if you can manage the shopping list, you shouldn't have any trouble with the build.
The result looks pretty scrappy, but it willget the job done for most household projects. For the complete guide, click through the source link.
PVC Dremel drill press [Instructables]