Quote from Zhab
Personally, instead of building a puny house that I will never use later on after my first day... I prefer to get some vital surface goods such as wood and then go deep underground and don't come back up until I am loaded with every resources (including diamonds and even glowstone). Usually takes 4 or 5 minecraft days. Then and only then I come back up fully equipped with diamond gears and chests full of building material.
Then I explore to find a cool spot and go straight into building massive impressive structures (including a real permanent home). Skipping the starting puny house step completely. I believe that this is how the pros does things.
That said, building the best looking house in 5 minutes of a fresh world is an interesting challenge. Perhaps not the most efficient minecraft start, but an interesting challenge. I might try it.
This. I perfer to get resources than getting a house set up, but i will still try the challenge.