As the Laravel News site mentions in one of their latest posts, the Laravel Homestead project received an update recently that makes it easier to install per-project rather than the previous "one install for everything" setup.

Over the weekend, Homestead received a new update that allows you to run it on a per project basis. Previously Homestead was designed so that you install it once on your system and share all your sites within the virtual machine. Joe Ferguson created the pull request to help get this feature implemented and he has a full write up on his blog.

This change pulls in the functionality doing all the hard work for you. It copies over needed files and setting up the Homestead vagrant instance directly from inside the project. Joe also describes the command line options you can provide, defining a name and hostname for the new instance. You can find out more about it in the official documentation.