I've always enjoyed having a nice space of your own to call home, and the RP that comes with that and the furnishing/decoration of it. I've spent longer than I care to admit on fixtures and placing things just so. When it comes to storage - it's always an extra nice thing to have personally, settlement storage is enough, though I think there needs to be more options for 'settlement storage' vaults for PCs who don't fit in Brog, Bendir, Cordor, Guld or Sencliff. I love the new Skal storage, that's fantastic.
The first place I owned I shared with several friends and I like to think made a difference in their stories because of it, but also it was nice to just have a semi private place to chill out and chat in. (and make look beautiful of course)
This said, I think as well that my take on things also depends on the quarter you have.
Is it a guildhouse? Then you need to keep a group around it and keep them active enough to use it well. I've been part of Castle Gloom, and even as part of the leadership (but not the owner) I felt the pressure to try and keep it working or felt that most of my time was around doing something for or with it, with very little return materially for it.
Is it a bar? Then you need to involve not only a group to run and staff it, but you also entice the public to use it and have many varied events to attract them. You get to also be mini landlord too, which I imagine can be quite stressful, but profitable!
Is it a ship? See guildhouse, except it's incredibly profitable and adventuring can happen during hanging out in a 'safe space'. There are there are a ton of additional variables and people you need to work well which can be really difficult to manage.
I think though, they all - no matter what or where - offer their own interesting take on the world and the RP that happens around you, and that's really what I'm here for.