It seems a little silly, but I would really like a way to buy a house and customize this space. This would be similar to Grand Theft Auto apartments, but with more personal customization. Bigger spaces could cost more (bigger rooms/more rooms). You could have spaces for your different characters or split costs with other players if you want to live together. This would be fun if you want to form guilds so you could pool resources to get a bigger Guild Hall. Therefore, you could have small houses/apartments for you and friends, or make big Guild Halls for a large group.
To get to the houses/apartments (or whatever), have a shuttle at the tower that will fly you out to the city. For customizing, I was thinking Pokemon Secret Bases. Have a central computer that stores furniture, moves furniture, allows you to set ownership to certain rooms, and manage resources. This computer could also act as vault access. It would also be fun to have storage/display options like in Skyrim for old armor and weapons that you don't need, but want to hang on to, such as the Strangers Gun, or if you have more than one exotic piece of armor that looks bad ass, but you simply can't wear both.
Again, a silly idea, but I would enjoy having a place of my own to build up if I get bored once I reach the level caps. Plus, it's another incentive to push back the Darkness, being that the City now is home rather than a collection of merchants whom I don't really care for. One of the greatest aspects of Destiny is it's social game play. Having personal housing would enhance the players experience so the game is not just fighting, but having a dedicated social area for fireteams and friends to interact.
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Housing?!? You are a zombie raised from the dead by a dinglebot! You should be happy you have a vault to keep your extra stuff in! ;-)