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Is there a difference between runes of magic and World of Warcraft

Is there a difference between runes of magic and World of Warcraft
They appear to be along the same lines as each other, with two big differences.

One: Runes of Magic is Free to Play. This means no monthly fees, no fees to download the game.

Two: In Runes of Magic, you can "exchange real money for diamonds" and use the diamonds to buy in-game equipment and things.

Other than that they are both MMORPG's and have the same basic play style. However, World of Warcraft does NOT have housing of any kind, whereas Runes of Magic does have player housing and guild housing.