Housing in Wizard101 is called "Castles & Lands". All players start out with a dorm room that they can immediately decorate. Upgraded housing can be purchased using in-game gold from vendors in each of the worlds, or through the Crown Shop. Players must be level 15 to purchase Castles & Lands.
Simeon in Ravenwood has a quest for players over level 15!
If you want the prize, you have to build the ladder rung by rung. There are no shortcuts.