For most folks with home studios, using a vocal booth isn't going to help much.
If you have a "normal" home studio room that does double or triple duty for other purposes, and has some furniture, curtains, carpet, etc.... recording in a room like that will work just fine for the average recording enthusiast.
I record my vocals in such a room....actually in the corner of the room I use for my home office. There's carpet and furniture but not much else. My vocals seem to be fairly decent sounding.... no strange room sound. I occasionally have to retrack if a big truck, the train, barking dogs, or the lawn guy is working close by.
Throw some EQ on it, a bit of verb and put it in the mix.....
However..... if I was running some sort of commercial venture where bands and musicians were coming in to record..... then , absolutely, the studio would be dedicated space, it would be treated, and it would have a vocal booth.