I recently bought some new equipment for my voiceover and audio editing, and I've been trying to get a perfect setup for my voice over. In the room I normally record in, it almost sounds too open and echoey, and I wasn't about to get a $100 silent isolation shield for my mic, so I found an open corner in the room, then hung up a thick blanket on the wall (if I didn't use a blanket, it would sound really echoey because the sound would be bouncing off the walls). It worked amazingly! Whenever I was in that corner, it was a lot quieter and enclosed, which is exactly what I need. I had just bought a microphone stand, and so I put it up next to the corner, then attached the microphone (I use the Rode NT1-a condenser microphone), and then set up the music stand. After that, I hooked up the microphone to my computer through my audio interface (which I hung/attached to the wall so I could control the sound and gain). Then recorded. You could definitely tell the difference.
This is my setup:
