Let us take as a hypothesis the case of a pater familias of the late republic/prince belonging to the equestrian class. This person has some very successful business, perhaps large agricultural estates, mines, or a profitable slave trade. The children have good careers, perhaps in the army, at the bar or the cursus honorum. What kind of lifestyle would this person have? How big would his house in Rome be? Would he have clients or his own? What luxuries would he be able to afford compared to the plebeian, and which would be precluded to him because he is not a patrician? Finally, in the case of the principality, could this person have contacts with the imperial family, or was the dynasty of Augustus only accessible to patricians and high ranks in the army?
These are all good questions, but I'm afraid there are too many for me to answer effectively in one swoop. I'll pick a few I can answer.