Every home benefits from having a spot in it that represents something sacred for the inhabitants in the home.
It may be as simple as a drawer with a sacred book and some prayer beads, or as complex as a full blown altar with a prayer or meditation area in front.
You altar needs to be located in a place that feels protected, not too close to the front door. If you have an informal family room and a formal living room, the latter can be a great place for an altar.
Guest bedrooms can also be good places for altars. Many of my clients have turned guest rooms into meditation/yoga rooms and keep their altar their.
If you are religious, follow the guidelines of your religion to set up your altar.
If you are not religious, choose objects for your altar that represent that which is sacred to you.