I think a "house" like a normal house in "Fable" its useless AND boring...and doesnt add anything new.
A good idea, in my opinion, its to add something like Suikoden 2 did, when your character (and allies) capture the vampire“s RUINED CASTLE and use it as it base of operations.
But implementing a deep RPG like customization, like defese improvement and upgrade, barracks for an allied (or own) army/ies, to put an example.
Obsidian crew, hope u are reading this!!!
Regards everyone.
Ps: sorry for my grammar!