Bahhh, Pooks, you're just a rookie!
DH and I have got the "system" like Trek420 -
Laundry room - 3 bikes, a 2-shelf shoe rack (6 bikes total needing 5 pairs of shoes! Ugh), work stand, lights, basket o' gloves, head sweats, ear warmers, etc., 2 drying racks full of gear, and a closet for in-use jackets.
Utility room - 2 bikes and storage crate full of off-season stuff.
Garage - 1 bike, hardware (roof rack accessories, etc), lights.
Upstairs, Bedroom 1 - closet with jerseys, tights, shorts, bibs, and Camelbaks.
Upstairs, Bedroom 2 - Chest of drawers full of socks, sport bras, and base layers. Second chest of drawers with his socks, base layers, etc (and a bunch of magazines in the bottom drawer, because he can't bring himself to recycle them!).
Good thing: (a) we have no kids who actually have to USE those spare bedrooms, and (b) bike clothes interchange pretty easily with ski clothes.