My $.02: The need-to-have and want-to-have lists will vary greatly depending on your intended usage. For daysailing on a familiar lake, even a depth sounder or VHF might be overkill. If you're exploring busy waters, the ability to talk to the big steel things doing 20 knots might be a priority (and if you need to traverse bridges or locks, it's probably a must-have).
From your location in Kingston, I'm guessing you might be sailing Lake Ontario, which might be pretty busy. If you do a fixed-mount VHF, consider one with an AIS receiver (possibly with some way to get the AIS data to your boat computer or tablet - we use a
Yakker. A class B AIS transceiver would be even better, but (as with most things), more $$.
Battery-powered nav lights are a good place to start. They're relatively inexpensive, and will serve as backups if you ever do fixed-mount lights (
my thoughts on those).

on LED strip lights in the cabin. My experience there is that the 'waterproof' ones are less prone to delaminate, so worth the extra $2-5 per strip.
If you plan to anchor or moor out, an anchor light is a good plan. Many people will hang a light from a halyard or spreader, but if someone were ever to hit you, having a USCG-approved light at the top of the mast might be a valuable liability defense (of course, our society south of the border is rather more litigious than yours).
Other things you might consider adding to your list someday:
--The aforementioned depth sounder (depending on your gunkholing plans).
--12v or USB outlets. Phones, fans, Kindles, the kids walkie-talkies... I think we're up to about 6 or 7 outlets scattered around, and we still never seem to have a plug in the right place.
--Carbon monoxide detector. ~$100. There are documented cases of deaths from _a neighboring boat's_ emissions.
--Fuel vapor detector. ~$100-150. Some are labeled for propane, others for gasoline vapors. They're the same thing; they all detect hydrocarbon fumes (and you test them with an unlit butane lighter). Some of the 'propane' versions control a solenoid, but you don't need that on a little boat without a propane locker.
--Charging system (solar or shore power, depending on your usage patterns).
--
Remote VHF microphone
Sources for electrical info and good marine-grade electrical components:
--Start by reading through
@Maine Sail's articles at
Marine How To - DIY for Boaters - Marine How To. His site also carries good quality crimp tools at reasonable prices. If you go no further, remember: fuses and breakers are there to protect the wire and prevent fires.
--
Blue Sea Systems is top-notch (bus bars, breaker panels, etc.)
--
GenuineDealz carries high-quality wire, heat-shrink connectors, etc. Reasonably priced, and they ship quickly. Stock up on crimp connectors, so you have the right parts on hand.