Do most lose money when they build a mansion?

Discussion in 'Luxury and Lifestyle' started by Amun Ra, Jul 24, 2020.

  1. Amun Ra

    Amun Ra

    mlawson71 likes this.
  2. elderado

    elderado

    Don't have a general answer for you, but looking at that specific property, the old saying is true: for some people, the only taste they have is in their mouth.

    Imagine what it would cost to remodel that!
     
  3. Amun Ra

    Amun Ra

    Really? The only think I don't like about that is like 75% of the floors. I think the rest isn't bad at all. Of course redoing 12k sq ft of floor at $5 per sq ft and you're looking at $60k
     
  4. Looks dated IMO
    And the quality of the materials look like they came straight from Home Depot showroom.
    Nothing about that house has style or charm. Just a warehouse with ugly furniture.

    Crazy that the taxes are only 8k/year for 19,000sq/ft on 2.5 acres
    I have rental properties in the Tri state area that could fit in their kitchen that I pay 6k/year in taxes!!
     
    vanzandt likes this.
  5. Amun Ra

    Amun Ra


    Yeah, they must have found a good loophole to get those taxes so low. Seems in 2007, they were paying $33k per year.
     
  6. vanzandt

    vanzandt

    $8K/year?!!
    waaa-tf?

    Look at this one.

    https://www.zillow.com/homedetails/1010-Amsterdam-Ave-NE-Atlanta-GA-30306/35918987_zpid/

    I don't care if they did use Bruce hardwood floors in the damn thing.... I'm going with the 40 mile drive to downtown and saving $17K/year in taxes.
    ..."Throw in the Roomba and that piano and you've got yourself a deal."
     
    JesseJamesFinn1 likes this.
  7. elderado

    elderado

    JesseJamesFinn1 likes this.
  8. True, or build a $2 million dollar swimming pool the bank only gives $50k credit on appraisal for.
     
    #10     Jul 25, 2020