I have a small home gym, complete with a weight bench, treadmill, some dumbbells, a kettlebell, a slamball and a makeshift exercise bike (also, a Wii + balance board loaded up with workout games, some hula hoops, a jump rope and some resistance bands). As minimal as it is, that's pretty much all I need, since bodyweight exercises and yoga just require some floor space to get going.
Before I started working out, my life / health was really in the gutter. It's really worth the effort