How important is geographic stability to a campaign

[Wombat]

My players and I have a deeply developed "home base" city, part of which is the backdrop for a good 30% of the adventures, but we also have a broad open area which we use for the other 70%.

Home is where they come back to. Home is where several of them have families, not merely parents and siblings, but also spouses and children. Home is where they are immediately known. But sometimes you have to travel far from home...

 

[Knoxgamer]

I vastly prefer a home base. It's easier to develop networks of NPC contacts, and as a player I get more out of the game thanks to the familiarity of the region.