I'd very much love it. The Farm in Pandaria was lovely, it was the only time my character had a home. The Wod Garrison never really felt like mine, considering it was just Orcish/Human themed. The Orderhalls are cool, but are just country clubs--for fun/play but not a home.
I'd be fine if they made a fixed instance location in each zone and when you enter it, we could build/decorate with game assets that you could unlock or something for this purpose. Maybe get a few npcs to make it feel more alive and you can set their routing. And of course, just invite people into a group (you have to be leader or something) and they can enter your "home". Sounds like a dream.