You can have more than one "home" resort. But as Tony said, when booking a stay more than 7 months out, you can only use points you own at that resort. When booking 7 months or less from checkout, you can combine the points from all resorts that you own to book a stay anywhere, subject to availability.
ETA: You can only combine the points if your contracts are the same Use Year and set up under the same master contract number. If your contracts are different Use Years and/or are separate master contracts, you can still use points from both contracts at 7 months out, but it gets a little more complicated.