I have no work space. Due to small children, my working area is the small number of models I am working on at a time, on top of my paintbox, on top of my tallest shelf. I deploy to work, then pack away each evening.
Incidentally, the rest of my stuff packs down to one small cupboard (again, 6 foot off the ground!), two carefully packed boxes of terrain (usually in my loft), a large GW case jammed down behind my sofa and a 6x4 board in sections that lives under my sofa.
You guys who live with your parents and can spread out over your entire bedroom, enjoy your space. I have less space for hobbies now than when I was 15, and nothing is safe left out.