There are 4 different homesteads in lotro.
1. Thorin's Hall Homesteads
The dwarven homesteads have a few things going for them. Those that like dwarven halls or fancy giant glowing crystals will feel right at home. There are 2 other points as well:
* Proximity to stable: giving swift-travel to the other starter hubs
* Proximity to Superior Forges: Very nice to have as a crafter
2. Falathlorn Homesteads
The elven homesteads sure look nice. Too bad they're not close to swift-travel stables or other convenient places. Then again, looks are everything, right? In the end, the distance ain't that bad.
3. Shire Homesteads
While some people don't like hobbits and others like them too much. The hobbit houses do have the benefit of being close to Superior Farmland, not too far from swift travel and on a convenient axis north to Evendim.
4. Bree-land Homesteads
The race of man sadly gets one of the lesser locations of their homestead. Too far from Bree to be useful. The port may be kinda useful before you get port to Bree and port to Ost Guruth, but quickly becomes redundant. Oh well, style I guess.
If you gotta choose one, considering my above commentaries and, choosing functionality above looks/rp, I'd say consider this:
Try to get your kinship to pick one of these and pick the other yourself:
* Shire Homsteads
* Thorin's Hall Homesteads.
Getting ports to these 2 ensures easy access to Superior forge and farmland, horseroutes and a nice short way to Evendim.