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Old 10-10-2016, 02:00 PM   #61
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...the 5250 house has 3750 ft on one floor with a 1500 sq foot finished, walkout basement. Plus it is a 35 year old custom brick build.
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"a large modern house that is considered ostentatious and lacking in architectural integrity."

so my house isn't a mcmansion
Agreed. My house was custom built in 1968 and has a very specific architectural style. It's 4500 sqft on 2.2 acres with a pool and 10 acre pond that is shared with 10 similar properties. There's also a 550 sqft detached living space and a 500 sqft storage building. I don't consider this a McMansion at all. Per Wikipedia:

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The term "McMansion" is generally used to denote a new, or recent, multi-story house of no clear architectural style, which prizes superficial appearance, and sheer size, over quality.

...in another usage "McMansion" is used pejoratively to refer to a house which replaced a smaller house, in a neighborhood of smaller houses, which seems far too large for its lot and thus crowds adjacent homes.
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Old 10-10-2016, 02:09 PM   #62
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In Vancouver, you would be lucky to get a house like that for $1.3 million. Of course, those are Canadian dollars.
Just west of there by 2 miles (so La Jolla or Pacific Beach - but still San Diego) - the same thing.... Here are 2 La Jolla houses, no view, not updated, problems with the location (busy street, etc.)... ~1k sf for $1.2M

https://www.redfin.com/CA/San-Diego/...7/home/4938394

https://www.redfin.com/CA/San-Diego/...7/home/4936299

My neighborhood is also pricey - but not La Jolla pricey... 1000sf homes (there are some, since the area was developed in the 60's) run around $650-700k. It's completely ridiculous. (And I'm just glad we purchased a long time ago!)
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Old 10-10-2016, 02:52 PM   #63
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They are quite common here in the central valley and really got their start during the "boom"

Dirt is expensive here so you get these 2 story boxy looking things with a lot of sq-ft on a "minimum" lot. Yup, the real legal minimum, 5 feet to the fence. They call 'em "zero lot lines" because there is zero more than the legal minimum.

You have these big boxes with walls going 20 to 30 feet vertical spaced 10 feet from each other.
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Old 10-10-2016, 08:45 PM   #64
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While I know that many Americans live paycheck to paycheck, I find that survey of dubious value:

[I][I]

To start with, I don't know how Google Consumer Survey works - if they proactively contact people, or if they pop up some window that says "Hey, want to take a survey?" when you go to GoBankRate.com website or something. But the bigger question is that many people don't even have a savings account - including me. I haven't had a savings account since I was 18, and just transferred my cash into my checking account (since I put excess cash into my investment account). I don't know that people specifically need a savings account, especially considering that they pay nothing.

So count me among those that have "$0", despite planning to FIRE at 50, with 7/8 of my portfolio (at 50) in taxable accounts.
See these:

https://www.google.com/webhp?sourcei...rica&tbs=qdr:y
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Old 10-10-2016, 09:05 PM   #65
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DH already had health issues including a balance problem.
Meniere's disease? Reason I ask is DW is getting into this.
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Old 10-10-2016, 09:36 PM   #66
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My college roommate grew up in a 27 room antebellum home with twelve 40' fluted wood columns on front. The front yard was over 100 acres manicured with miles of white wood fences. The door was answered by a uniformed butler and meals were prepared by a cook.

That was a real mansion, not a McMansion. Upkeep was outrageous. But it was a great place to take a date.
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McMansions
Old 10-10-2016, 10:42 PM   #67
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McMansions

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Meniere's disease? Reason I ask is DW is getting into this.


No- a couple of falls a few years apart each resulted in subdural hematomas. One gave him "dystopia"- he can't sense where his left leg is, and has to be very careful about that.
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Old 10-11-2016, 07:04 AM   #68
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No - - it can be just a plain ol' mansion. This one was built in 1891 so it is 125 years old. It is gorgeous although it is way, way too much house for me.

3924 St Charles Ave, New Orleans, LA 70115 - Home For Sale & Real Estate - realtor.com®
lol OMG W2R, Saint Charles Avenue is a gorgeous block, one of my favorites when i visited New Orleans.

I think you hit on a big important part. these developers put up these big, cheaply built houses, that were ugly.

this is what is going on in Philly

519 Bainbridge St Unit B2, Philadelphia, PA 19147 - Home For Sale & Real Estate - realtor.com®

This thing is butt ugly and the design is popping up everywhere. I wouldn't consider this a mcmansion but it burns me. It a historical city with gorgeous colonial townhomes dating back to the American Revolution, these things are hideous and cheaply made.

Also guys remember with this house location is also a factor. the garden district in NO is nothing to sneeze at. It's like finding a house on the Upper East side of Manhattan. It ain't gonna be cheap.
Heck every since Jay-Z came to town Brooklyn is outta control. Brownstones in Ft Greene are insanely priced
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Old 10-11-2016, 07:34 AM   #69
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While out for a walk yesterday I noted a realtor hanging "Reduced" signs on a nearby McMansion. Talked to him for a few minutes and found out the new price is $450K, the original asking price last Spring was $539K.

Very suprised at the large drop in price, but it is still high for the area, most homes go for 200-300K. Most likely built in the wrong neighborhood, the previous owner was the developer of the neighborhood and reserved a lot for his dream home. Unfortunately both spouses past away last winter within a month.

Recalled reading an article in the past week regarding the drop in premium buyers willing to pay for McMansions in recent years. One of many articles found through Google:
McMansions Define Ugly in a New Way: They’re a Bad Investment - Bloomberg
This would be considered a deal in Denver and probably would have sold for original asking price. Only at that price it would be classified as a starter or maybe a move up home. The McMansions here are all $1million +.
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Old 10-11-2016, 08:11 AM   #70
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My college roommate grew up in a 27 room antebellum home with twelve 40' fluted wood columns on front. The front yard was over 100 acres manicured with miles of white wood fences. The door was answered by a uniformed butler and meals were prepared by a cook.

That was a real mansion, not a McMansion. Upkeep was outrageous. But it was a great place to take a date.

Around here, the door gets answered (assuming it gets "answered") by an old, skinny guy wearing boxers...
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Old 10-11-2016, 08:31 AM   #71
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Meniere's disease? Reason I ask is DW is getting into this.
my mom has that
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Old 10-11-2016, 08:31 AM   #72
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is a 5250 sq ft house a mcmansion?
Certainly not in Paradise Valley Arizona. This would be on the smallish size. Averages seem to be around 7,000 sq ft on minimum 1 acre lots.

I suspect "McMansion" is a negative term people often use to describe someone else's house that is bigger than their's.
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Old 10-11-2016, 09:27 AM   #73
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It seems people keep confusing McMansion and Mansion. They are totally different. A big house does not make it a McMansion.

Per the internet (so it must be accurate):

Mc·Man·sion
məkˈmanSH(ə)n/
noun
a large modern house that is considered ostentatious and lacking in architectural integrity.

According to wiki (which is the highest authority in the world, lol), the term started in Cali in the 1980's. Here's a bit more from Wiki:

The term "McMansion" is generally used to denote a new, or recent, multi-story house of no clear architectural style,[8] which prizes superficial appearance, and sheer size, over quality.
Such very large, indeed expensive, but "mass produced" homes may sit on large lots: that is to say, an entire division of McMansions may be created (perhaps dozens or more at once), each on a large lot. However, in another usage "McMansion" is used pejoratively to refer to a house which replaced a smaller house, in a neighborhood of smaller houses, which seems far too large for its lot and thus crowds adjacent homes. (Indeed, such a McMansion may lack side windows due to the proximity to the boundaries - another McMansion-related cliché.[citation needed])
One real-estate writer explains the successful formula for McMansions: symmetrical structures on clear-cut lots with Palladian windows centered over the main entry and brick or stone enhancing the driveway entrance, plus multiple chimneys, dormers, pilasters, and columns—and inside, the master suite with dressing rooms and bath-spa, great rooms, breakfast and dining rooms, showplace kitchen, and extra high and wide garages for multiple cars and SUVs.[9]
Typical attributes also include a floor area of over 3,000 square feet (280 m2),[10] ceilings 9 to 10 feet (3 m) high, a two-story portico, a two-story front door hall usually with a large chandelier, a three or more car garage, usually five or more bedrooms and many bathrooms, extensive crown-moulding style features, and lavish - if superficial - interior features.
As noted above, a McMansion replacing a house in a community of smaller-sized houses, will cover a much larger portion of the lot than the construction it replaces; in the other usage McMansions are built en masse in homogeneous communities by a single developer.[11]
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Old 10-11-2016, 01:02 PM   #74
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This would be considered a deal in Denver and probably would have sold for original asking price. Only at that price it would be classified as a starter or maybe a move up home. The McMansions here are all $1million +.
Our McMansions are oceanfront ($8 m to $50 m) and also ocean view ($5 m to $20 m). Many are tasteful architecturally but just cover too much of the lots.
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Old 10-11-2016, 01:09 PM   #75
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In Vancouver, you would be lucky to get a house like that for $1.3 million. Of course, those are Canadian dollars.
Yes there are no lots that big. Maybe out in Surrey for $1.3 m. In Vancouver, more like $2m.
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tear down
Old 10-11-2016, 02:05 PM   #76
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tear down

and it's a $2mm tear-down only in many parts of Toronto.
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Old 10-11-2016, 02:17 PM   #77
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^ tiny bubbles...
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Old 10-11-2016, 02:45 PM   #78
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^ tiny bubbles...
No, really a very large bubble.
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Old 10-11-2016, 03:04 PM   #79
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There's a nice development down the street from me where most of the homes are in the $400-500K range. About 3 years ago some family started building their McMansion. Could tell it was going to be over the top when I drove by while it was being built. They had a 3 car garage attached to the house and another 4 car garage semi-detached to the house by a covered walkway. Just the garage space is probably bigger than 90% of the homes in the development. They weren't in it for much more than a year when they listed it for sale for $2.5M. Two years going and it's now down to $2.3, I'm not sure a $1M cut would be enough to find a buyer. I doubt there are more than a handful of homes in the entire county that are worth over $1M, not much of a market here for really high end homes.

I do not know where you live, but here in the Houston area there are plenty... I looked and there are 14 homes over $10 million... all I got for $1 million was 'over 120' as that is the max they will show you...


And if you live in NYC, a 900 sq ft condo on the Upper West Side sells for more than $1 mill... heck, the monthly condo fee is more than I pay for my entire house and maintenance...
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Old 10-11-2016, 03:06 PM   #80
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For most Americans, 7 out of 10 in fact, a McMansion is anything but a wise choice.

Nearly 7 in 10 Americans have less than $1,000 in savings

It's been said that your money (and what you spend it on) is your time is your life. You can have stuff, or it can have you. It's a choice.

I think that is old.... I recently saw an article that said the typical (maybe avg) checking account balance was a bit over $4,000
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