Once I bought my house in 97, my mind was made up - that 16 x30 garage would become Bluesman's Powerhouse Gym.
Power rack, chin bar, flat and incline bench, lat pull machine, and a shitload of DB's and about 1,000 lbs. of oly and standard iron, most used or given to me. I also have a heavy bag, padded in/out rugs, a couple of lights and a radio.
I love my gym - I haven't had a cold in years (I swear all of my sickness was from the nasty oly bars at the gym.), no assholes on cell phones or old ladies wearing gallons of perfume, no waiting for equipment...and I am the biggest guy in the gym.
If you have the means, I highly reccomend it.
Bluesman