Every homeschooling space is different. Ours has changed much in the 2-3 years I've been educating my child.
We began with a simple clipboard and sitting on the floor. It worked beautifully with coloring and sticker work.
Once writing began, we moved to the ever popular kitchen table method, but soon our kitchen became so overrun with books and supplies that there was no longer room to eat our meals.
So, we searched for a new solution. What we came up with has served us very well, and I think will continue to do so for a many number of years.
We were able to set this up for a pretty inexpensive amount, using a lot of furniture we already owned.
Teacher's Desk - This was mine from when I had my own business with a large desktop computer.
Student Desks - We picked these up for under $20 each at a going out of business auction for a local office supply store. The chairs were $1 each.
Bookcases - We found these at Wal-Mart for $30 each.
Printer - Another leftover from my home business.
Dresser - This was brought down from the guest room when it converted to our eldest child's room.
White Board - Purchased for roughly $20 at Wal-Mart.
Keyboard - My old keyboard from college. The chair we picked up for free when our public library remodeled. The Kaboost was found on Craigslist for $10.
That's pretty much it. Any questions about our setup can be asked below.