From what I can tell they will have instances where ppl just go in and buy lots of land in an area. I think it would be better if they did it by Free Companys instead or give you the option to do it that way. Some ppl would like to have there houses right next to ppl from there Free Company and new ppl who join would be able to get there house with everyone else if they wanted to. It could even be something like guild halls are in other games but it would be like a little city for the FC instead.
If you decided to leave the FC or and join another one your lot would just be moved to the new FC instance and you just pick where to put it and everything is the same. If you don't join a new FC then you can put it in normal instance.