Based upon your location, Rochester, NY.
A concrete block or poured concrete walled DRY basement! IMHO the detached garage will have neither enough electric amperage nor heat for the winter time. The condensation on your cast iron table tops will be a nightmare.
Avoid all timber basements.
If you have enough land, consider building a shop. If you build the shop correctly, it can be converted into a mother-in-law apartment by any subsequent owner thus adding more value to your property than "just a shop" would.
As you look at houses, open the Circuit Breaker panel. Look for circuit breaker space in the box. (i.e. Spaces for breakers that aren't punched out.) If there is only a couple of spaces left, you'll need sub panel in the wood shop. This is not a big deal EXCEPT in jurisdictions where if ANYTHING electrical is touched, the entire structure must be brought up to current code.
For houses built in the mid to late 1960s beware of aluminum wiring. Yes it was legal, yes it can be made to work, however aluminum wiring may be a fire hazard. The retrofit process can be very expensive.
If you are buying a truly "New" house, insist upon a 400 ampere breaker panel. Before anyone starts jumping up and down about "way too much", do a little math. Electric stove, cook top, clothes dryer, air conditioning, tank less hot water is close to 200 amperes. Now add a band saw, cabinet saw, jointer/planer and dust collector. You've just added another 100 to 150 amperes. Understand that circuit breaker capacity is your concern.
I had an addition done and needed a 200 amp panel in the shop. The contractor started to give me a bad time about 200 amperes. I just looked at him and said, "Is there something about the number 200 that you don't understand?" (With the band saw, dust collector and jointer/planer on 30 amperes each and the saw on 40 amperes I'm almost out of circuit breaker space.)
With a nice big basement, you'll want to wall off the shop area. Interior walls are cheap and easy to build. While you're in the process, fiberglass in the ceiling is a good sound barrier.