-And you should have the option of editing your house (which of course would cost lots of money) like for example in "Fable: the lost chapters" there you can upgrade the interior and there is also an option to give your house for rent , which i guess won't be a bad idea either ...
Some other ideas

-Sailing should be available like in some modules (but there are 2 kinds of sailing i have encountered in mods. the simpler is just when you step on a water , your party "avatar" changes into a ship. The second is more realistic => i like it more , is when you could buy a ship in town's harbor) so pretty much like the house , you should be able to edit your ship's view and his statistics like speed , endurance , etc. (I'm supporting sailing so much because it represents a great part of the Northern people's history , that's like Khergits without steppes and horses and Sirranids without desserts and camels [which too should be added

].)
-When you are the vassal of some village , it would be nice to have the option of choosing how the tax would be pain - money or production.
-PLEASE include GORE in the game , it is unrealistic when you charge with great speed and slash an unarmored person for him to only fell on the ground (There could be an option of turning of/on the gore in case someone couldn't take it).
-When you are camping it would be great if you could organize something like practice tournament between your party (archery,weapon fighting,melee fights) and thus improve the skill of the currently selected discipline.
-Melee fighting could be improved , especially when you are not weighted down by heavy armor , i think the kicking should be made with the system of striking - low kick from left/right and the normal kick, and when the low kicks are performed with high speed , the opponent (if he has less strenght than the attacker) may fall on the ground.
And one last Suggestion , which i am not sure people would agree on , so it could be discussed (after all the more people happy, the better

) When for example spear penetrates your armor - the armor stays that way (having it's statistics reduced a little bit) until you went to the blacksmith who can fix it , BUT ! every time he fixes it , naturally the quality get's worse from the original , thus your statistics are not perfectly restored to its original , but reduced a little bit.