A guest room isn't always necessary but is often preferred when you have company over. A great way to combat completely changing over a room or having limited space is to install a fold away bed! That way you can still have your office or craft room without the inconvenience of a bed taking up all the space. Below is some great options.
Check it out!
http://www.diynetwork.com/decorating/fold-away-beds-a-must-for-a-multi-purpose-guest-room/pictures/index.html
Cheers,
Katie