Vagrant not working - timeout while waiting for the machine to boot

I have installed the latest versions of Virtualbox v.5.2.6 and Vagrant v.2.0.1 on the windows machine with the Intel-Core-i5-4210U-Processor @1.70Ghz 2.40Ghz. I have added the homestead box by running the command:

 vagrant box add laravel/homestead

But, on running the vagrant up it runs fine until this point:

Timed out while waiting for the machine to boot. This means that Vagrant was unable to communicate with the guest machine within the configured ("config.vm.boot_timeout" value) time period.

If you look above, you should be able to see the error(s) that Vagrant had when attempting to connect to the machine. These errors are usually good hints as to what may be wrong.

If you're using a custom box, make sure that networking is properly working and you're able to connect to the machine. It is a common problem that networking isn't setup properly in these boxes. Verify that authentication configurations are also setup properly, as well.

If the box appears to be booting properly, you may want to increase the timeout ("config.vm.boot_timeout") value.

I have looked around I tried out different things but couldn't find any solution. On running the vagrant ssh-config I get:

Host homestead-7
HostName 127.0.0.1
User vagrant
Port 2222
UserKnownHostsFile /dev/null
StrictHostKeyChecking no
PasswordAuthentication no
IdentityFile C:/Users/MyUser/.vagrant.d/insecure_private_key
IdentitiesOnly yes
LogLevel FATAL
ForwardAgent yes

How can I get this working?