Cut the top off a plastic switch box with a rotary tool, being careful not to damage the edge that adjoins the front of the box. Make the aperture large enough to fit secret items into --- feel free to cut into the back and sides if necessary.
Screw an electrical socket to the front of the box. Slip a plastic faceplate over the socket and screw it in place. The assembled pieces should now be indistinguishable from a genuine power outlet to the casual observer.
Find a believable location along one of the walls of your house to install your secret compartment. Choose a place where it would make sense for a power outlet to be, but out of the way enough that nobody would think of plugging a lamp or vacuum cleaner into it.
Check the location for wooden studs using a stud finder and cut a rectangular hole in the wall with the rotary tool, just large enough to slide in your secret compartment. Place the valuables or other sensitive items you wish to hide inside the compartment and push the false outlet into the wall.
Clean up any drywall debris remaining around the outlet to cover your tracks. Move a piece of furniture in front of the outlet, if it makes sense in your location, to further hide the secret compartment.