Skyrim will have a wide variety of landscapes, such as plains, mountains, snowy fields, etc. A perfect setting for agriculture; let me explain.
You manage to buy a small shack in the middle of a green, healthy field. Since it is costly, you had to do quests or what have you to gather that money. Once yours, you are able to plant seeds and grow vegetables, fruits, herbs, etc. All that would depend on your alchemy skills, there are things you can't grow if your skill is too low...you need experience.
Once you're all settled and you're a little tired of cultivating your field by hand, you hire someone to help you out. This is where it gets interesting.
Let's say you hire a dunmer from Balmora in Vardenfell and you are a Nord from Bruma.
The dunmer is in a faction, let's say the Morag Thong. So even if your personnality is quite high, his allegience to his faction will be a problem to your character. He could report your doings to the Morag Thong, so you're constantly spied on. Maybe one day you will be attacked in your sleep, or you'll arrive home after plundering a dungeon to see your farm and your field in flames, destroying your main source of income.
You make friends and enemies in everything you do, but the impact is far more present in the smaller things you accomplish.
No need to be the head of the fighters guild to realise the thieves guild is in conflict with your beliefs.
Maybe you plundered a dungeon invaded by bandits. Maybe the bandits did'nt like it. Maybe the bandits will organise an ambush when you least expect it.
Let's say you earned a high reputation. That means a lot of people know about you, what you do and where you live.... Sure you get discounts in shops sometimes but you're telling the enemy where you are.....
Nothing is reallly safe. Hire protection for your home but chose wisely, you never know who or what will await you...