You have a house. But then, you have a turnip field, a family of boars in a corral, and a shipyard, and.... gets a number of wandering creatures on each of them, constantly.

There will quickly be too many targets, too vulnerable.

Unlike anything with a workbench, the monsters tend to ignore walls AND what's behind them. It will not only block attacks, it will stop them from happening (or being noticeable) to a large extent.

Go with the wall. It's really going to save you a lot of bother. It's not for PvP, it's for the monsters.