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But the smaller McHomes will appreciate faster than larger McMansions. But it was hardly a revelation for the OP to point out that smaller (as in not mansion sized) homes generally appreciate more than mansion sized homes simply because of higher demand. Not really news.
Apparently it was due to the number of folks coming out of the wood work to defend their mcmansions or right to own one or whatever.
Smug, condescending comments like this and your earlier brag of "You can take the six largest McMansions in the Raleigh area and sum their value and they are still less than 1/8th of my personal total real estate holdings ...." are why most people reading this entry are dismissive of what you're posting here. You don't need to pretend you're superior to others on here to make your point. You don't like "McMansions," we got it. We also think that there are more pressing needs in the area regarding real estate than this issue right now.
Are you also calling out the "smug and condescending comments" aimed toward me, that I was only responding to? Or is there a bit of inbred favoritism going on here maybe?
Listen, I never boasted of wealth.. providing a ballpark metric of quantity on my RE holdings does not say anything about how much I actual own versus borrow against. I could be cash poor for all you know.
But if I did get cash poor from bad real estate decisions at scale, it would still put me in a reasonable position to provide an idiots guide to bad RE investing via mcmansion purchases... and boy did this thread draw those in droves. Success!
It has panned out as I expected 20 years ago, both here in the Triangle and in Northern CA.
What's the definition of McMansion? I dunno, let's just say "more than you need", but at this point most anyone with common sense can spot them right away.
The friends of mine who bought McMansions 20 years ago have generally seen about 200% value increase since then regardless of whether in this area or out west.
The smaller homes I bought around the same time are enjoying 300% at the same time. At the end of the day interest rates and real-world market conditions narrow the pool of buyers, and in uncertain times, the maintenance prices of a huge home and the "McMansion Gouging" that comes with it more than offsets whatever advantages folks thought they were getting by trying to impress the joneses.
Now, as an investor, just the sheer liquidity of owning multiple smaller homes with a price point that is much more approachable, in itself is enough to separate the genius investor from the mentally disadvantaged ones.
I have several friends who invested in these things and their cash output due to "McMansion Gouging" by contractors has eaten them alive along the way.
Ah well.. gluttony always ends how it does, doesn't it? It seems the key to success is to keep your investments under the radar instead of flaunting them.
I don't get your point. Land value usually appreciates faster than structure value. The more your structure/land value then the slower your appreciation relative to something with a high land/structure value.
Presumes suburban homes, not some rural land 100 miles from a city.
I thought a McMansion was a fairly ordinary home about 3,500 SQFT or larger, on a relatively small lot such as 1/6 acre.
If you have an opulent 5,000 SQFT home on 4 acres, then that would be a true mansion, not a "McMansion".
why is this thread even here in the Raleigh forum? Other than 1-2 posts about specific streets in Wake County, this has ZERO to do with this forum, should be in Real Estate general forum.
why is this thread even here in the Raleigh forum? Other than 1-2 posts about specific streets in Wake County, this has ZERO to do with this forum, should be in Real Estate general forum.
Well... No one knows.
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But it was hardly a revelation for the OP to point out that smaller (as in not mansion sized) homes generally appreciate more than mansion sized homes simply because of higher demand. Not really news.
