Need a little help, New to Vinyl

Hello all, I don't want to be a bother but I am not exactly sure if I know what I am doing in regards to setting up my first turntable. I have been doing my best to research this on the Internet and I think I know what I need but I am not sure. First of all, I want to set up my turntable for headphone listening. A good speaker system is too far out of my price range so the next best thing would be an excellent pair of headphones. I am considering the AKG 701's. I just purchased a used Music Hall MMF-5 turntable and I am not sure how to connect the headphones to it. From what I have found it appears I need a Phono Preamp, a headphone amp, and the necessary wiring, correct? Also, any suggestions on brands and such would be great. I know the headphone amp will be $200 and I can't really afford anything more then $200 for the Preamp. Thank you for your help.
You could look for a used pre-amp that also offers a built-in phono stage and headphone output. An example would be something like a NAD 114 or 116 which has both a MM/MC phono stage and a headphone output on the front panel. Plus you get remote contol and a pretty nice pre in the deal. Full disclosure--I own the 116 and would never part with it even though it's no longer in my main system. I think the current model is the C162 or the C160, which should also do what you need.
Great idea K. As an alternative, the Bellari phono preamp has a built in headphone amp, so it may fit the bill exactly. Oh, and it has that cool tube as well:

Welcome to the club!
Viridian makes a terrific suggestion. . .especially if you're looking for a more flexible future upgrade path. And I'm right there with him on the tube thinking!
I second the Music Hall Bellari. I think its a great product.
I also agree with the Belari. I had one some time ago, and while it wasn't right for me, I think it's an excellent solution for you situation. The only suggestion is if you go that way, make sure your cartridge has adequate output voltage and/or you have fairly sensitive headphones. The Belari is a little short on gain. If your cartridge output is near 5 mV or higher you should be fine.
Hey everyone, thank you very much for all of your help. I definitely think I'm gonna go with the Belari, the only thing I was worried about was it's ability to power the headphones. From what I have read the AKG K701's are a little difficult and respond better to a more powerful headphone amp. The turntable comes with the stock Goldring 1012GX cartridge, I believe, and it is 6.5mV so hopefully there will be no trouble. Another question. What kind of cables from the turntable to the amp would you recommend?
That's all you had to say!
Mike, of course not. I think that the AKGs unbalance the system and are probably not a good match with the Bellari. They are too revealing for this level of gear and very demanding a load for the driving amp. Get one of the more modest Sennheiser models, not the 580, 600, or 650, or even one of the more modest Grados. Great headphone recommendations for this level of gear can be found at, the place for all things headphonish. Even a $100.00 pair of headphones is as reveling as a $1000.00 pair of speakers (note, I did not say "better", "more impactful", "draws you into the music better", etc.). For many great interconnect recommendations do a search of the forums on this site, but remember, for use as a phono cable, you usually want a short cable with very low capacitance. Happy hunting.
I would not hesitate to seek out Viridians recommendations. He knows his stuff like few others.
Maybe consider an integrated amp - even a cheap one, and just use it for the head phones. Then if you do eventually get speakers you've already got something to drive them.