Actually I'm going to put it into my closet along with the rest of "home equipment" (UPS, GPON modem, switch, landline phone). Noise will disturb me at night, as I'm sleeping not far enough from there. I managed to configure Gen 8 to be quiet enough with some weird tricks (it was not by default). Basically I need for fan noise to be on par with HDD noise.
I hated the noise that my N40L microserver made (even though it was super quiet already). Now I have a NUC, and plugged a USB powered fan [1] into it to blow air over the chassis (the small fans in the NUC are noisy as hell when it's under even moderate load). Now it's so quiet I can't hear it. For storage I got a USB3 based 5-drive chassis and hooked up my 4 drives running mirrored ZFS. USB3's 5Gbps is more than plenty for my usage.
Wish there was a non-insane costing 12 bay Thunderbolt array but because the market mostly consists of video professionals the math in cost and noise works out better to build a more traditional server anyway. 8+ drives won't be quiet. I've got my 8 drive array right behind me and the drives are the issue really.