Home is typically understood as a singular place that provides a sense of groundedness, belonging, and well‐being. Yet, this singular notion of home is challenged in global mobility, where consumers live and travel across borders and relocate internationally frequently. We expect globally mobile consumers to experience multiple and multilayered notions of home with significant psychological consequences for their sense of well‐being, ownership, and identity. In a qualitative study of 40 globally mobile consumers, we examine what it means to have multiple homes and how consumers cope with it. We identified four types of home that coexist in global mobility: emotional home, home away from home, base of operation, and home on the road. These types are characterized by different degrees of permanence and serve different psychological benefits that are at times in opposition or complementary (respectively, belonging and ontological security, functioning and psychological ownership, productivity, and flexibility). We also explored how this home portfolio provokes emotional, social, and cognitive consequences with which globally mobile consumers cope through strategic use of marketplace resources.