I've just watched a development update about freeholds:
https://youtu.be/SUkEWE6kBMc?t=1025
And I'm really impressed.
I was already interested in getting one once the game is launched but also was kind of intimidated by the size (1/2 an acre) and the possible cost.
But seeing what it actually looks right it seems to be about rigth, maybe even a bit to small depending on how many things one could possibly put on it (is that really half an acre? seems way smaller than that.)
In the video you can see a House (with its interrior shown), a pond for fish, a field for crops, a little fenced off area with two horses a resting are(?) and multiple sheds in different styles. And the developers said that everything we see on the freehold is functional so I would assume that the sheeds can at least be used for storage, maybe you can even put furniture crafting stations in there.
The only negative I could see is that the horses seemed not to move around at all. Though that might be for a multitude of reasons.