Reply to How rich are people who buy 3 million dollar houses

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]At $10m net worth I looked at $3m houses but was not confident enough to buy one.

NW went from $10m to $30m over a few years and I finally pulled the trigger on a house around $3.5m on 1-2 acres of land.

I'm constantly amazed by how expensive the upkeep and maintenance of the house is.  It's probably $100k/year before I touch property taxes or mortgage.  I'd be just as happy in a full service condo but kids love the extra indoors and outdoors space so the house is really for them.[/quote]
You're lying. There is no way what you said is remotely true. I own a $3.5M house. No way the cost is anywhere close to $100k/ year before taxes and mortgage.
If you are really worth $30M, you're not supposed to be this ignorant.[/quote]

Insurance $2k/mo
Landscaping $1.5k/mo
Utilities $1.5k/mo (less in summer, more in winter)
Pool maintenance incl. winterization and refill $10k/yr

That's $70k/yr between those, and it feels like every other month there's a random bill for a couple thousand dollars.  This doesn't include deferred maintenance like a new roof or HVAC.  If I'm doing something wrong, please let me know as I'd love to pay less.[/quote]
See? This is why you’re lying because you have no idea how much big houses cost.
My insurance cost is 2.2k per YEAR, with replacement coverage of more than 2.5M.
My utility is on average less than 300 per month, and I have 10,000sqft.
See how ridiculous you sound?[/quote]
Lol at $1.5k/mo landscaping. The dude is living in Versailles probably.[/quote]

NP here.  No, people are stupid with their money.  I know someone who has the local big landscaping firm at their house every week, whether it needs it or not.  I think flushing money down the toilet is one of the ways they feel they can "tell the world" they "made it".  Ridiculous and wasteful. [/quote]

Lol.  My neighbor does the same - expensive landscaper visit weekly.  Also a dog poop scooper visit DAILY…. The home is est $2m.  [/quote]

Insane.  So many better ways to be spending that money.  Just because you have money to light on fire, doesn't mean you should. When I think of all the chemicals on that lawn. One only needs so much attention to the lawn, especially in the cold weather. The blowing of imaginary leaves takes the cake. The few that do actually fall get blown over to our yard, in keeping with the spirit, apparently. Ridiculous. [/quote]

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