Home dir is where Core maintain it's blockchain data. Since you are starting from scratch, you can pick whatever folder you want for this. It should be a folder that Armory can access however (no alternate user or admin restrictions).
Typically, Core sets that folder to /users/myusername/Bitcoin/blocks
You want to use something equivalent or the default folder.
Install dir is where your Core executables are, specifically bitcoind.exe.
Considering your symptoms, Armory is most likely failing to find Core executable files, and you'll want to explicitly set the install dir through the File -> Settings dialog. The home dir will be resolved by default and for most users that's satisfactory.
Typically, Core sets that folder to /users/myusername/Bitcoin/blocks
You want to use something equivalent or the default folder.
Install dir is where your Core executables are, specifically bitcoind.exe.
Considering your symptoms, Armory is most likely failing to find Core executable files, and you'll want to explicitly set the install dir through the File -> Settings dialog. The home dir will be resolved by default and for most users that's satisfactory.
Thank you very much for the clear explanation. It is now "Building Databases" and it looks like I will get it to work. I'm mildly worried of my skills to handle/understand issues I may experience in the future, but I will take it step by step. With kind and helpful people like you in this community it shouldn't be an issue.
Enjoy your day.
