Builders will need to be hired to construct your house. There are four locations to build and each house will look different and have benefits/features the other houses do not. The items for the home will be purchased from retailers in Al'Norvin (as this is the Al'Norvin based home). Items will be able to be removed after purchase, including landscaping elements. They will be replaceable as well. Moveable? Not likely.
An achievement will be unlocked for building a full house, as it takes a large amount of gold and some time.