When I bought my new home a number of years ago, one of my priorities was a large weaving area. The home I ended up buying has a huge loft that overlooks the living room and it is perfect. It is part of the home, but everything, well most everything is upstairs and I can walk away without tidying up.
Now that I am quilting, have aquired a number of vintage sewing machines, and am finally getting serious about weaving yardage for clothing, I have turned my dining room into a sewing room. It mostly works okay. I am lucky because it is a large room with good light but I am still working out the best way to have everything.