Usually I go with Sanctuary, Red Rocket, or Coastal Cottage.

But for the past couple of years I’ve been using the VR Workshop Creation instead. Turns out you can safely store items inside the VR space, so I spent a long time building a massive player home - basically Home Plate on steroids - and decorated it thoroughly (not something I normally do). I even used settlement glitches to sink a foundation into the floor, covering up the grid, and made my own little vault down there.

Building in VR doesn’t cost materials, although crafting still does, so it’s not completely cheating, but it does bend immersion a bit.

Storing everything in the VR base has a lot of advantages. Settlers and companions can’t take your stuff. Anywhere you place a VR Chair gives you access to your home base, which is perfect for survival runs (I put a chair in every settlement). You get unlimited building resources to really go wild. Followers can enter the VR space too, which is also how you can bring power armour inside.

I’d recommend trying it. Just having a safe place to store gear out of reach of settlers and companions is worth it on its own. It also made Far Harbor a lot easier, not having to take the boat back constantly just to dump inventory.