I have a bunch of multimeters, including a few HF models that I leave in the garage. However, if I only had one multimeter, in hindsight, I'd probably get just one good multimeter, such as a Fluke. I've had the HF model give very incorrect voltage measurements when the battery was low (with no warning). Without another multimeter that I trusted, I would never know.
Which model you pick might depend on your intended use. Fluke had models geared towards different trades (electrician, HVAC, automotive, etc). In general, you'll want something that will measure, AC/DC voltage and current, resistance. An audible continuity tester is nice too.
I just happened to be walking the dog a couple days ago by a pawn shop and saw a clean Fluke 77-IV with Fluke leads for $50 (I picked it up). I would look for a used Fluke 77 or 115 as a general purpose meter.
I'm not a complete Fluke fanboy, but I would urge you to get a half decent one over a super cheap one. Something in the $20-50 range.