I’d be curious how mobility plays into that as well. The YouTubers I see often seem to be well settled in their large-enough-for-the-hobby houses. If you end up moving often, or just _feel_ like you might have to, it’s more difficult to invest time and money into it.
I've just been thinking about this in terms of metalworking. I've long wanted to have a home lathe, welder, possibly milling machine or at least a drill press. I recently moved into a house with a sizable basement workshop space and am enjoying setting it up and doing some simple projects (none of those high-dollar tools yet, but I have a selection of files, rasps, a nice vice and workbench, etc.).
The thing is, I don't expect I'll necessarily have this kind of space forever (and almost certainly not this particular one), so it's hard to justify things like cutting a hole in the side of the house to crane in an industrial lathe. I'm planning on getting more hobbyist-scale stuff (though still space-consuming) with a goal of using it to build my own, smaller, portable workshop (a small lathe, provisions for using it for milling, a selection of cutting tools and the necessary meta-tools to maintain them, a pack-up forge/foundry).
The ultimate dream is something the size of approximately a (possibly large) suitcase or footlocker that can be used to recreate itself (think RepRap but a whole, miniature machine shop), so that I can 1) continue in my hobby even if I have to move into an apartment, and 2) share this with other people by helping them bootstrap something similar. The David A. Gingery book series ("Build Your Own Machine Shop From Scrap") is my inspiration here, though so much of the series would be a lot easier if you could start with some existing machine tools instead of having to do literally all of it from scratch).
You definitely are locked into a location. I went this route with a large basement lathe, milling machine, drill press, welders, etc and while I love them all if I ever move more than a couple hours drive away I'll probably have to sell them and start over.
I started in an apartment with the small Shurline lathe and mill and they were quite fun and capable for their size.
One tip: stick everything on a small platform with wheels and have a spot where there is an anchor embedded in the floor so you can fix a machine when you need to. The best kind of wheels are the retractable ones so when you set it down the machine is planted properly. I'm pretty space constrained here as well and this is my strategy for maximizing the use of the workspace.
