Homes of Greenville and surrounding areas starting at $999,000 and UP (Charleston: sales, rent)

[AnnSinc]

[bls5555]

maybe it's just me but seriously why does anyone need something like those?

[AnnSinc]

If not for the ego, I could see investors/buyers purchasing then selling these homes for the 1031 tax exchange. 1031 Tax Exchange is a way to defer capital gains by exchanging one investment property for another.

To sum it up-Example: buy properties, rent them out, sell them,defer those capital gain taxes by buying another property (hopefully higher in value) do this until you want to retire (cash in) sell them and BAM you just sold a home(s) for 2.3million dollars, pay the capital gain tax, which is nothing when you have 2.3million dollars, and youre rich.

It's all about deferring the sales tax and riding on your loans.

or something like.

[flgargoyle]

....but I'm sure they're doing there part to save the environment....

[amberamour]

Ha! Before I clicked in I expected to see some gorgeous properties with spectacular scenic views but with few exceptions saw only too-big houses without much surrounding natural beauty. Maybe it's out there beyond the blinding luxury but might seem like an afterthought to those with so much indoor recreation.
On Labor Day it sure is fun to bash the obscenely rich! lol
Seriously I'd rather have a more modest Charleston-style home with a porch swing, white picket fence, wind chime for me, hammock and lemonade for the husband, and meadows as far as the eye can see for the kids.
Families should beware of overly large houses. Growing up we had a simple rancher with a hooded barbeque grill and concrete backyard but we were literally storybook happy. Down the line my father got his so-called piece of the pie and moved us to a 6300 sq. foot house. It was all downhill from there. We all had our own "wing" of the house and several phone lines so we could call each other room to room because it was too far to walk. Down our block we did have friends to play with and it was the same in nearly every house although as formerly "average" kids with our experience in a regular-sized home without much luxury, only my siblings and I seemed to get it.
It's fun to look at estates like these but they should be toys for the wealthy elderly or investments for speculators, but never homes for growing families.

[justNancy]

Originally Posted by bls5555

maybe it's just me but seriously why does anyone need something like those?

Wow! I just found this thread. The houses are beautiful! I love the workmanship and the landscaping, even though I'd feel lost in anything over 2000 sq ft.

There seems to be a misconception about wealthy people. Sure many of them are obnoxious jerks. I worked in a high end furniture store and I also sold cars, so I've dealt with the worst snobs, but just because someone lives in a grandiose mansion and has an expensive car, doesn't mean that person isn't very generous. In January there was a wine festival in Naples FL where many millionaires reside. They had an auction for a Bentley Continental GTC. Celebrities like Martha Stewart, Judge Judy and Emeril showed up, and more than $16.5 million was raised for underprivileged children during this one event that is held annually.

Capitalism creates jobs and drives the economy. When rich people stop spending money, we all lose. Anyone who has worked in the service industry knows that's true. Having said that, I agree huge homes like these waste an awful lot of energy, but I bet all of them employ caretakers, gardeners, cleaning people, etc.

Anyway, these estates are lovely.