The term implies pride in ownership, as the property is owned outright without debt. Becoming a freeholder gives you a sense of complete control over your property.
Pro Tip 2/3
Not a Renter
Emphasizes the difference between renting and owning, highlighting the full ownership aspect. As a freeholder of that apartment, she can make any renovations she likes.
Pro Tip 3/3
Full Responsibility
Owning as a freeholder means being responsible for all maintenance and repairs. Being a freeholder means I'm responsible for fixing the roof myself.