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I worked for many years in my youth at a very nice Golf Club. In a very affluent town. While plenty of the membership had large McMansions, plenty lived in townhomes or condo's. Plenty more lived in extremely expensive towns, in nice homes, but most of the time the homes didn't make you raise your eyebrows. Its funny, living in the south I notice that there's more emphasis on conspicuous consumption...Where I grew up it wasn't there...because if you were a big shot lawyer or Orthodontist, your neighbor was likely the CFO of a fortune 500, and the guy down the street the VP of R&D for a Pharma company, etc...
I remember one kid at my brother's HS talking abotu how much money his dad made; his father was a partner with a big time law firm...Til someone pointed out that the girl behind him, her Dad was the CFO of an enormous pharma company, the guy in front's mother was the COO of a Bank that has stadiums named after it, etc.
My Grandparents sold their 60's version of what many would call a McMansion to move into a single story Ranch. The point was to avoid stairs and spend their time doing what they wanted rather than maintaining a house. Because unless your wealthy to the point of having FT domestic staff, it is more to keep up with.
I am curious to how many people are out there that don't want large, nice, expensive homes, but can afford them? I'm not necessarily talking mansions, but larger nice homes that just show that you have a lot of money. The ones you see in affluent suburbs and they wow you. What percentage of people that have money would you say are like that?
I am in that camp. If anything I want a small home with a huge garage. As it is now I have a medium sized home in an expensive area. Like little homes really.
I am curious to how many people are out there that don't want large, nice, expensive homes, but can afford them? I'm not necessarily talking mansions, but larger nice homes that just show that you have a lot of money. The ones you see in affluent suburbs and they wow you.
I'm not "wowed" by McMansions at all. They look cheaply built and shoddy to me, no matter how large they are.
Now, a large home built prior to 1960, yes, that has a wow factor for me.
I am curious to how many people are out there that don't want large, nice, expensive homes, but can afford them? I'm not necessarily talking mansions, but larger nice homes that just show that you have a lot of money. The ones you see in affluent suburbs and they wow you. What percentage of people that have money would you say are like that?
We owned a "large, nice, expensive" home n a very affluent suburb of NYC for about 10 years. We had a huge inground pool. two fireplaces, servant's quarters, two stair cases, five bedrooms, 4.5 baths, etc etc etc.
It was relatively new when we bought it in 2004. It was 4,200 square feet not counting the above grade finished basement with a 4 room Mother n Law suite, an office and recreation room. The full stand up attic had a theater media room.
The outside looked lke an actual Queen Ann Victorian home, with a wrap around porch and a tall turret.
t was on an acre and a half.
It was not my first choice. My husband loved it, so went along.
The house was just too damn BIG. We only used HALF of it, if that. EVERYTHING was expensive to repair, clean or maintain.
From cleanng people to yard mantenece to roof repair. It was a nightmare.
Not everyone WANTS to have the most expensive house they can afford. I am one of those people. I wanted a circa 1800 house with history and less property. I wanted a nice, updated kitchen. Not loads of property.
My parents never lived AT their means, much less beyond it. I love to travel, decorate, and save. I like good furniture. I don't like to clean. I just like an older, more manageable house.
I knew a guy who was a self-made multi-millionaire and he lived in a nice-looking ranch home. It wasn't anything really fancy and you would never guess that a millionaire lived there He disliked the McMansions and new construction; he strongly favored the older homes and liked large ranches. He also hated pretentiousness and drove mid-range vehicles. I guess in his case it was simply preference since he could certainly afford to live in whatever kind of home he wished.
I am curious to how many people are out there that don't want large, nice, expensive homes, but can afford them? I'm not necessarily talking mansions, but larger nice homes that just show that you have a lot of money. The ones you see in affluent suburbs and they wow you. What percentage of people that have money would you say are like that?
That description would fit me. I could own a much larger house than I do -- and don't want one. Of course "own" is a subjective thing because if I "owned' one, I would be paying the bank for many more years on a mortgage. Happy with a small, modest (paid off / no mortgage) house in a middle class neighborhood, smaller utility bills, etc. Less things to fix, and take care of. More money and time to do other things. Like the guy in Marie Joseph's write up, I also don't like being pretentious or showing off wealth at all.
I've known some folks with serious piles of money, but you'd not know it from looking at them. Nor from their houses, either. Or their everyday cars. One of them would get a new Rolls every year - and keep the old one. Although he seemed to always pick the worst colors.
Not that they'd be living in a dump, but their house didn't scream 'MONEY!'. Until you noticed that they owned the floor under their penthouse condo so they could have a bowling alley. Or, that wasn't a closet, it was a sauna. Or their apartment is the entire floor - and it's the top floor.
Another one lived in what looked like a small modest house, then I noticed things like floor to ceiling glass windows which had cut out notches for the roof beams. !!! Awful expensive way to build a window. Regular looking couch, except it covered in mink. Small yard, but it overlooks both sides of the ridge for one of the most amazing views in town.
All their houses are architect designed and look relatively modest from the outside, but they usually have some sort of understated amazing things in them somewhere. These were all 'old money' folks, though, none of the flashy new money sorts.
In my city, Sydney, it is all about location rather than house size if you are out to impress. Location with a harbour view, or a view of a beach. Location near a train station is increasingly valuable. But more than anything, location near the city. So the most expensive homes combine waterfront locations and closeness to the city. Often they are not particularly visible from the street.
I know a couple of people who are searching to upgrade to family sized homes and have a budget of around $US2 million, on the high side here. In the Eastern suburbs that will buy a semi, single parking space, no views but close to the city and to beaches and the harbour. In the suburbs it will buy a McMansion. The Eastern suburbs shoebox is likely to impress people more. Families seek them when both parents work in the city and do not want to both get home late every night.
A house in a desirable zip code (defined by central to city or desirable natural attraction) is far more impressive than a large house in the boonies.
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As it is now I have a medium sized home in an expensive area. Like little homes really.
He disliked the McMansions and new construction; he strongly favored the older homes and liked large ranches. He also hated pretentiousness and drove mid-range vehicles. I guess in his case it was simply preference since he could certainly afford to live in whatever kind of home he wished.
