That really depends on personal preferences and goals. Besides, one can do both. Having a settlement somewhere doesnt mean one has to stay there 24/7. Both RP styles have their ups and down. Personally I like a good mix of both
I've always been a nomad with my main character, Trent Jaegar. It's really up to the kind of playstyle you enjoy. I prefer to travel all over the map and meet new people. Sometimes I may stay at once place for a few days, but eventually I move on.