too small wattage, probably blow the amps when they turn it up to hear themselves over the drummer.
for guitar amp, min 50w for solid state.
so rm1000 for both, not possible.

This is what I've used for my home jamming room:

• Marshall DSL-1C, JCM-1C
• Hartke A35
• Yamaha Manu Katche Signature Jr Drum  Set
• Meinl Generation X Thomas Lang Cymbal Pack w/ Sabian 13" XS20 Hi-hats
• Yamaha STAGEPAS 500

My jamming (store)room has carpets, with shelves, furniture and the room's acoustics are decent enough - tip: don't waste time with egg cartons which serves no purpose.
I've never needed drum mutes and with the jungle kit I can hit/play "hard/loud" and not have to restrict my playing intensity - tip: use smaller drums and smaller cymbals.
The 1W amps are sufficiently loud enough to be heard over the jungle kit; never needed speaker cabs or to mic them up through the PA - tip: amp placement is important.
The 35W bass amp feels underpowered at times (when there are 2 guitars) so I sometimes use the Direct Out into the STAGEPAS - though a 70W or greater wattage bass amp should easily solve this.

When/if I have time, I'll post some photos.  To answer your questions, you can settle both for RM1K - just buy used gear.  Bass amp needs to be 2x or 3x louder than the guitar amp - ideally >70W w/ 10" speaker.  Have fun! 

surf mudah la.
a little over budget, but a damn good deal.
http://www.mudah.my/Brand+New+Randall+Kirk...mp-35916509.htm

anyway on mudah also, u can try this.
http://www.mudah.my/FENDER+Champion+40+40W...mp-35460524.htm

but fender amps arent really known for handling heavy distortion well.
better u just walk into bentley and test them first.

they're not cheap, but heres one.
https://facebook.com/soundflex.id

Used to have home jamming studio before. I can play music with my friends without any complain. I can play with my friend without waking up my toddler in different room.

All equipment connect to 8 channel mixer. Guitar's effect pedals and bass go straight into the mixer. I'm using electronic drum, so the output goes straight to the mixer as well. Then I connect the mixer output using Behringer HA400 headphone amplifier so that everybody can listen using headphone. Very quiet from the outside but the sound is superb! The guitar, bass and drum is mixed with balance without using AMP at all.

If you are using acoustic drum.. get drum mute and install drum trigger if you want to try this setup.

By the way, I used a cheap behringer 8 channel usb mixer. Can record also.