I really am working on a web page(in my spare time) and I promise pictures of my house. Most of my equipment is in the basement where I spend a great deal of my free time. As for space, with no wife or kids I have the run of my whole house. In an effort to free up floor and table space though, I have taken to rack-mounting my equipment.
As far as heat and electricity go, well, if I were to remove the two large UPSs that I have(APC Matrix 3k & Matrix 5k), that would definitely cut the electric bill a bit. As for heat, I live in Michigan, so it's welcome in the winter and the furnace doesn't have to work as hard.