I have a beautiful space for my quilting in my basement. My only complaint is there are no windows. I have plenty of lighting, but I crave natural sun light... I mean seriously crave it. Because I'm a professional LA'r, I spend anywhere from 4-8+ hrs at a shot down there & I do tend to get 'poopee' being down there day after day.
If it's the place you can sacrifice to your quilting passion, then by all means go for it... But if you have a spare room w/a window & it hardly ever gets used, take that over! *giggles*