Best place for your loft is on the line of flight!
If you can't manage that then i prefer to have the loft facing as near to south as possible but without it facing the house. If you put the loft along the side of your garden you can still see the front and it stops birds coming out of the loft and flying straight up onto the roof, likewise when landing, depending on how far the loft is from the house they may settle on the house first and lose time on race days.