Fancy Home is a term used to describe a luxurious residence. An ESTATE is a large piece of land with a house or other buildings on it, usually owned by a single family. A MANOR is a large house or ESTATE, typically owned by a noble or wealthy family. A VILLA is a large, luxurious house, often located in a rural area. Finally, a PALACE is an impressive and grand residence, usually owned by a monarch or other high-ranking official.