Jason,
Check out this thread in the forum: Your Complete Guide to Poker Chips & Creating the Perfect Stacks
It gives lots of info about chip stacks, setting up a home game, etc.
I've hosted quite a few home games and it is VERY important to be organized and make sure everyone understands the buy-in, are rebuys allowed, blind/ante structure, etc. No matter how close you are with your mates, when you bring money into the picture, things can get dicey.
If any of your mates have hosted home games, ask them for advice. Or, once you've made it through your first home game, ask your mates for suggestions. Was the blind structure good? Was the buy-in too low/high? Should you allow re-buys? How long should you allow re-buys?
Home games are great fun and can be really helpful to developing your game. Have fun and good luck!