Forget candles and incense. I'll never forget the ridiculous image of a Wiccan ritual I attended during which a person with utter seriousness and pomp carried a single stick of incense around the ritual site. Most everyone I know who is a practicing Pagan of any type has some type of space set aside in their home for occasional honoring of the Gods. In some ways this may be a more important thing to concentrate on than the setup of your Ve for group ritual work because the form of your home altar takes the place of the ritual trappings found when working with a group. The major purposes of a home altar are to remind one of the place of the Gods in ones life, and to provide a convenient and regular place to make occasional offerings and prayers to the Gods.
Home altars tend to be very eclectic.
In our home, we have the top of a bookshelf set aside with an altar holding our usual ritual tools, and a few candles. We have another friend who has no permanent shrine, but carries a statue of Thor in a small wooden box. One side of the box can be removed to display Thor, and under the God's seat is a small piece of lava taken from Thingvellir. It's not necessary to have all or any of the tools for the blot on ones home altar, unless one plans to perform full blots at it.