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Problems with real estate

Discussion in 'ICO Discussions' started by ItuExchange, Apr 26, 2019.

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    ItuExchange GL Legend

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    What are the disadvantages of owning a mansion?

    There are some great answers here, I’ll tackle another angle. Maybe I’m old fashioned and conservative.

    I’m a big fan of living beneath your means. A mansion is the antithesis of that, a peacock home with little utility. I strongly prefer a small, well-built and “cozy” environment to spend my time and raise my family.

    I don’t see a mansion as a much better investment than a yacht, expensive to buy, maintain, and if you’re lucky you can sell for what you bought it for. I’m no real estate agent but my guess is there are much larger swings in luxury property values based on the economy.

    Also, what do you actually do in a house? How far do you want to walk to get to the bedroom or bathroom, how many flights of stairs do you feel like traversing?

    The expenses are obvious, every square foot is that much more to clean, maintain, put a roof on, and provide HVAC for. AND pay taxes on :)

    In disclosure, I live in a 1470 square foot ranch with a partially finished basement, so about 2000 square feet of living space with my wife, 2 kids, 2 cats, dog and parrot and I never feel like we’re lacking for room.

    My favorite saying “The richest man alive is the one who realizes he has enough”. Really sings to me!


    Source: https://www.quora.com/What-are-the-disadvantages-of-owning-a-mansion



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    nblinks Member

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    Depending on the way you look at it. Owning a mansion can turn out to be a great investment if you make it a multiple letting and multi-functional building.

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