Being able to decorate your dorm room does sound like fun but only if there is some way to share it with others. Maybe having some way to invite others to see your room or letting only True Friends visit your room. This could be linked with a trading system where True Friends or maybe just those all in the same Family Group of Accounts could all visit and trade items in a common storage area such as a Common Living Space or "The Living Room". This space could be available to any family member account characters and all characters could store stuff in this common area like a shared-bank and be able to rearrange furniture, pictures, trophies, and other cool stuff like this.
