This layout has a flat open land area big enough for a mansion, castle or even a little village as well as a very large usable water area with a natural bottom deep enough to satisfy Merfolk and even do a little boating.
Homestead owners have privileges you just don't get on parcelled land …
Estate Manager Rights - restart your region, change the terrain textures, change the water level
As much privacy as you want - you decide who can visit your region
The space to dream - keep the provided landscaping or return it and do your own thing, you decide
Full Homestead tenants may also request an empty homestead and provide their own raw file for terrain.