Naming a house is an one-time affair. Among us, we have a practice of consulting the astrologer regarding the name, especially of departed family members. If their thithi/time of demise is a disturbed time, then we would be gently discouraged to keep a different name. This is purely for those who believe in astrology and the traditional family practices.
The other thing to bear in mind is about the desire for the youngsters and new generation to have a name that is neutral like having Nest/Cottage etc. Please also listen to what your other family members feel about the name
The first part you can choose
The second part you can choose
You can consider Rishi Kuteeram/Kripa because Rishi would mean sage, Kuteeram- modest abode to live, Kripa - would be blessings
If you want to be a little neutral, then you can choose, SRS cottage/Nest. RS villa - would be heard as 'Ours villa.'
Some families choose first 2-3 letters for the family members and then keep the name
It would come as PraSanVi Nilaya/yam. See if this works out for you, you can include Rishipal,Karthik etc and work out a name. Give it a try with the family members getting involved.