Great Question!
Our plan will be revealed very soon on that topic. However what I can tell you at the moment is that you'll be able to own a House with know address like City, Street, Number. People will know that Puffymuffinz is living there and he is exercising a certain profession.
Your house will have a meaning.
I really like the idea. Maybe you guys could add non-instanced housing where player should buy a plot first and then build a house. Why non-instanced because anyone can enter your house and it makes whole housing a lot more interesting. Other players can just lockpick your house but this would make them outlaws and guards would look after them. Something like in Elder Scrolls games. That brings maybe that the owner of the house needs some kind of private guards do defend his/her house while he/she is not online.
On the other hand building, the small camp or cottage anywhere in the world would be amazing and would make PvE and PvP much more interesting.