I would live at Lon Lon Ranch, Ocarina of Time. I love horses and have always wanted to live on a farm, plus you're right smack dab in the middle of Hyrule, so everything would be a short distance on horseback.
I wanna live in Castle Town of Twilight Princess. Man, that place just feels so alive, yet it's not like Los Angeles. In the game, it was pretty dry and I hoped that they could've done something like Clock Town in Castle Town, but oh well. I just wanna live in there!
I'd live around Lake Hylia in Twilight Princess. You know the ledge right below Falbi's Filght by Fowl that has a Poe and some crates? Yeah. I'd probably dig a little bit more into the earth, and make somewhat of a Hobbit-hole type of house.
But first, I'd drill and elevator into that stone pillar that sticks straight out of Lake Hylia, then I'd put a rope bridge going across to that ledge/my home.
This sounds pretty complicated/expensive. I'll definately need the Giant Wallet for this. And the Mole Mitts wouldn't hurt, either.
With the Guredos for the women, spirit temple for the music, or lake hylia to sit and fish all day
(all OOT locations)
I also like the main village in Koholint from Link's awakening. (the one you start in. Forget the name). It's got a beach close by, some people tripping on mushrooms up north, a fishing spot, a claw game, a library, and some nice townfolk.
Depends on the location.
ALTTP: Not far from Lake Hylia. Probably not far from Link.
LA: Maybe someplace out in Ukuku Prairie.
TP: Maybe on the outskirts of Castle Town.
I would love to live in Clock Town in Termina, just because it is such a mysterious place with all sorts of strange and interesting people. Plus it is a hub to all sorts of other cool places to visit. Also it would be awesome to be there for the celebration, except for the whole moon falling and killing everyone... I just think it would be so cool!!