Sure, go get Realm Credits (.5 Realm Credits gained per block placed / deleted) and continue to get Realm Credits until you have 10000 RC.
To figure out how much you have type /realm credits.
The "space" you want to obtain is called realms. Realms are pieces of land that are 50 x 50. Realms cost 10000 Realm Credits. Once you have 10000 Realm Credits, type /realm purchase, when your in the realm you want. IT MUST BE PUBLIC.
You can build awesome creations, and other players won't be able to destroy it.
To make faster money, try selling some of your items you obtain to other players using Minerealm's economic system. /trade will be more helpful to you as well.