Hmmm... intresting thread. I guess I would live in Termina. As a wanderer or nomad or something. A traveling swordsman. That would be so me. That's where I'd live. Maybe in the time Majora's Mask takes place.
Hmm, I really have to think about this one. I guess I'd pick the Hidden Village from Twilight Princess. Nice and exclusive and cut off from everything else... just how I like it.
I would like to live on Outset Island. The place seems calm, it isn't cramped with people, and you can spend your entire day lounging, doing nothing except to look in the sea with your telescope.
I would either live hide inside a pot inside any Zelda game (possibly all of them) or... Inside the Ghost Ship! No, I'm kidding, but the "iron pots" look kinda comfortable.
I would live in Zoras Domain from any Zelda title i love being in and around water. Plus its connected to all of hyrule so i would be able to travel and see everything anyway. Thats just MY opinion though