This post describe quick steps to install KVM hypervisor on CentOS7. KVM (Kernel based Virtual Machine) is opensource hypervisor, lightweight and works/fits well into cloud.
For your personal lab you can use KVM hypervisor layer and utilize hardware for creation of multiple VMs. KVM support both linux and windows based VMs.
Check whether system CPU supports Hardware Virtualization. #grep -E ‘{vmx|svm}’ /proc/cpuinfo
if you get vmx or svm in output then you are good to go ahead otherwise your CPU doesn’t support virtualization.