Players can only own one (1) home at a time. Players can own any number of House Deeds (which they can trade), but they can only have one (1) active House to place furniture, invite friends, etc.
If the player has all of the Locations for their Home, they get all of the associated buffs. Players can choose to display any of the Locations they own without worrying about losing access to one of the buffs.
So if a Home owner has the Forest, the Mountains and the Volcano they'll have the Health, Mana and the Damage buffs active at all times.
Bookmarks