It’s true: for the past month, I’ve been living in a million-dollar home.
Yes, for the past three weeks I abandoned my modest two-bedroom apartment and moved to one of Minneapolis’s richest, most desirable neighborhoods.
This is a neighborhood where the average home is less likely to sell for a million dollars and far more likely to sell for million-s of dollars. We’re talking ornately gated mansions with lawns so perfectly manicured they could have been trimmed with the bonsai scissors, sitting on huge acreage right next to downtown’s Minneapolis’s most valuable real estate.
No, I haven’t blown my entire net worth on a down payment. I’ve been house-sitting, thanks to a strange turn of events resulting in the friend-of-a-friend-of-a-friend deciding I was the best man for the strenuous job of bringing newspapers inside and taking the dog for periodic walks, while the home’s true owners were away on vacation.
Why they chose me I have no idea, but I won’t complain. Although my 13-year-old truck looked laughably out of place parked in the driveway of this million-dollar home, and even more out of place on a street lined with Cadillac SUVs, Lexus sedans, and Porsche sports cars, I’ve otherwise seized every chance at living the complete life of luxury.
We’re talking steam showers every morning, 70” TVs with multi-thousand dollar sound systems (plural), automatic on/off faucets, and a backyard that looks like this:
It didn’t stop there. High end toilets, multiple balconies, infrared gas grills, and only the finest, rarest materials lining every floor, wall, and door handle. At all times, I was surrounded by spacious rooms and elaborate hallways.
Today, the true owners returned, and I retreated back to my humble apartment – all 4,000 less square feet of it.
You might be tempted to think, as I was when I agreed to house-sit this gorgeous palace for nearly 30 days, that my brief impersonation of the rich and famous lifestyle would make returning to my small apartment a depressing crash back down to reality.
The most amazing part?
When I lived in a million dollar home, my life was absolutely NO different.
Seriously. My life in that fancy pants million-dollar home was the exact same as my life in my most average of averages apartment.
My spirits didn’t soar every time I walked into the door. I wasn’t provided endless entertainment from staring at perfectly sanded, glossy wooden crown molding lining every ceiling. My life wasn’t any easier, and I wasn’t any less stressed.
All of this, and I wasn’t even the one indebted to cutting the massive monthly mortgage payment.
The truth is, despite all the flair, I still went to work every day. I still had chores to do. And the things that brought me the most happiness still involved spending time with people I cared about doing things I cared about.
Even the little conveniences afforded by many of the homes high priced features weren’t all that convenient. The home’s huge rooms and long hallways were great at impressing friends, but day to day the only noticeable change they had on my lifestyle was making it that much more annoying if I forgot something in another room.*
*I can’t wait until all of the people day dreaming about a huge mansion get their first chance to search for a lost cellphone in one…
Other “million-dollar” additions weren’t any more impressive. The automatic on/off sinks often malfunctioned. Eating on a couple thousand-dollar dining room table was an oddly similar experience to eating on my own apartment’s cheap dining table, which I scored for $20 on craigslist. And it turns out I HATE those expensive rainwater showerheads. Who wants all that water splashing in their eyes??
What are you, some sort of monk? Get outta here with your zen BS
While I wish everyone could experience this puzzling effect for themselves, unless you hit the jackpot with the friend-of-a-friend-of-a-friend like I did, you may have to take my word on this one.
Instead, let’s take a look at a proven theory which explains why I’m not a liar when I say that a million-dollar home really isn’t all it’s cracked up to be.
Diminishing Marginal Returns
One of the first, most fundamental principles taught in introductory economics classes everywhere is the principle of diminishing marginal returns. It goes something like this:
You’re starving, so you go to the pizza by the slice stand around the corner. You’re more than happy to pay $5 for a slice of pizza. In fact, you might consider it a steal given how hungry you are. “$5 well spent,” you say to yourself.
Satisfied from your first slice, you’re not as desperate for the second. You might find yourself wishing the second slice only cost $4.
Slice by slice, you will be less enthusiastic about your next. As such, you’d place a lower and lower value on each piece of pizza. At some point, if you continue, you will be so full that the mere thought of a pizza is likely to be a projectile vomit inducing event.*
*Sadly, I know this from experience. I’m the guy who once ate 40 slices at a pizza buffet.
At some point, you may find yourself so pizza’d out that you’d be willing to pay to NOT eat another slice.
This is diminishing marginal returns, and we see it everywhere.
The same principle applies to spending. Each additional dollar spent has a smaller and smaller effect on the increasingly expensive chase of luxury.
The difference between a $1,000 car and a $5,000 car may be whether the car can even start. The difference between a $5,000 car and a $30,000 car is a few horsepower, and whether the dials controlling the air conditioning are boring plastic or ultra-high strength space grade stainless steel.
Before you know it, you’re paying hundreds of thousands of dollars on the long shot hope that one day, someone asks you about the manufacturing process. Thankfully, you’ve been preparing for this question and can spring into action explaining how every stitch in the leather was expertly handcrafted by third world wage slaves. $100,000 well spent…
Our million-dollar home works much the same way. The difference between sleeping under a highway overpass and having a roof over your head is pretty notable. Even the difference between a sleazy apartment in a dangerous part of town and a nice, safe, modest home is pretty notable.
The difference between a modest home and one of these mansions is not notable, because we begin entering the range of diminishing marginal returns. The basic needs are addressed (safety, enough space for basic comfort, a roof that isn’t about to cave in…) and thus we begin entering the land of superfluous bullshit.
The land of superfluous bullshit is a scary place, because it’s so tempting and has claimed so many lives. But I’ve been to the land of superfluously bullshitting homes, and I’m back to tell you:
it’s all overrated.
By the way, here’s a fun game. The next time you have a day off during the middle of the week, drive through the most expensive neighborhood you can find. The more absurd the houses, the better. You’ll notice something interesting:
nobody is home.
You may see cars in front of the mansions, but they’re not the owners’. What you’ll see is the never ending fleet of vans and service vehicles prescribed to keep these hotel sized monstrosities running.
These mega-rich are going to work every day, just like you and I. Their massive homes aren’t a ticket to a happier life. They’re a sentencing to housing maintenance and salary dependence.
Hotel sized homes require hotel sized staffs. No thanks.
So, What’s it Really Like Living in a Million Dollar Home?
There’s a lot of tabloid trash floating around out there about how amazing life would be if we could all own a 70,000 square foot home like Shaq. MTV Cribs inspired a whole generation to shoot for the stars. The bigger and flashier, the better. Or is it?
I’m back to share the real low-down on living in a million dollar home. Here’s just a few annoyances of mansion ownership that the real owners wouldn’t be caught dead bragging about:
- You can’t relax in your million dollar home because you’re always worried about being mistaken for a ransom target.
- More space = more appliances. More appliances = more things that break. During my three week visit, only one refrigerator broke. You’ve got the AC repairman on speed dial, right?
- There’s not enough time in the world for one human to clean all that square footage. So along with that repairman comes a maid. Hope you don’t like your privacy…
- Did I mention finding a lost cell-phone in one of these things is a nightmare?
- You feel the need to buy an expensive new car. Not because you want one, but because you know everyone considers you that neighbor if you don’t.
- Using only 25% of the house in a day is a wasteful feeling.
- Big houses are cool for having people over, but they’re awfully lonely for the 6 other days of the week.
Lesson Learned
Take it from me, and Nancy Reagan. Big houses are overrated. Enjoy your smaller home. We’ll all be happier, richer, and less frustrated about the long walks to find our lost phones.
[Feature photo credit: muffinman71xx via flickr]
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I always laugh at the McMansions out in Edina and the other western burbs. You buy one of those houses and I just feel like you are trapped! Hard to rent and hard to sell if something happens. (Star Tribune just had an article today about the difficulty of selling expensive houses in the Twin Cities these days, despite the housing recovery). Really seems like am anchor that just forces you to keep up the big paycheck.
I grew up thinking I wanted a giant house one day, and yet now, I am perfectly happy living in my normal regular size house in the city.
Good point. I prefer to spend (or save!) my money to get closer to freedom… not farther away.
You were parking your butt in a high dollar house but you still had your low dollar life. People in expensive houses don’t realise that their house is pointing it’s finger at lower income people saying you could have had me but YOU didn’t try hard enough. Which makes low income people not want to visit. The only friends they have are people who live in expensive houses.
I watch less and less tv I’d go to movies because these actors don’t deserve anymore than the rest of us hardworking people. They use their “stage” to talk save the planet while they have these enormous homes and lawns and yachts to maintain which are grossly destroying the planet
nice
I gotta agree, some of these houses are absolutely nuts! Being from Chicago, MJ recently had his house for sale; 56,000 sq ft and 19 bathrooms! Seriously? Although I do think I would miss that view you had from the backyard
The backyard was definitely my favorite feature of the house. Ironically, it was also intertwined with a public park, which gave a similar view and experience, absolutely free.
But what if the other 18 bathrooms are occupied?
The best sized house is one that fits the occupants but not bigger, otherwise it just becomes a museum that goes unused. A house too big is a burden.
Thanks for the article. Well described.
I appreciate the comment comparing the difference between sheltering under and overpass and having a home, agreeing that huge inside spaces, unless working for you as an income generator (professional networking, video productions, vacation rental) rarely are worth their cost. On the other hand, the scale of income between one man and another may make such a home no more of a burden than a small home for a lower wage earner.
If every multimillionaire lived in a tiny home on wheels, what would all those middle income maintenance workers do for a living? 🙂
True, although there is beauty in simplicity that many of these massive home owners never consider in their arms race of larger and larger homes. And you’re right, the large house may be far less of a burden for a high wager earner… but he’s still not immune from those long walks to find his cell phone. 🙂
Oh contraire monfrier (sp?),
High wage earners don’t ‘run around looking for things.
They send a search party.
Let me help you.
If you were a King, would you ‘be immune from those long walks?
Now you get it.
Personal Assistants…from sun up ’till sun down.
Ha’…you think the ultra wealthy answer their own phones.
You’re funny.
Great article! While I could never be one of those tiny home dwellers (I have a small apartment but not THAT small), I do think that’s so much wasted space for the average person. And yes, I freak out when I can’t find my phone in a 600 ish square foot apartment! Sounds like a fun and interesting experience though!
Thanks Tonya! I can’t say tiny homes are for me either. Now a houseboat on the other hand…
But yes, I definitely enjoyed the experiment. Thanks for the comment!
Great points about the law of diminishing returns. Honestly, sometimes I feel ridiculous in my 2450 sq foot house I just bought. That’s with 1 kid coming this fall and plans for another one in the future. Nice to have an extra room for family to visit. But honestly, half the world lives in far less space.
Great point about perspective. I couldn’t agree more. Check out my article about how we’re all actually one percenters for all my thoughts (which are entirely too long for a reply!) on this idea of staying grateful.
Now I feel even more ridiculous, ha! Actually, I completely agree. I grew up in Southeast Asia so I know just how privileged I am being born and American. It’s funny how our human nature seems to adapt to whatever we have, and then want more. I think your article on One Percenters really cuts to the point, we are already rich.
So true. My e-amigo Millennial Money Man recently ran an interview with a multi-millionaire who had $5 million and said $50 million is the number he thinks would make him happy. I laughed because I have $100K and think $1 million would make me happy. Interesting how it’s always just out of reach…
I think the lesson here is for everyone (myself included!) to focus on being happy with what we have.
Although I do not believe that money should be a goal, I do believe that we should never be satisfied. Maybe that has something to do with wanting more. My long term goal is to be a CPA. Once I become a CPA, now what? I feel like it’s human nature to always want more or strive for more. Again, making more money doesn’t drive me (would be nice lol) but I feel like people always need something to reach to keep them going
I agree completely. Your point is a big reason why, truthfully, I don’t like the term “early retirement” all that much. It implies that we reach a certain financial number then stop doing anything.
Deep down, I think having a purpose is what we’re all seeking. The problem is, a lot of my long term goals are non-monetary and non-corporate. Realizing when enough is enough, materially and monetarily, let’s us focus on those other purposes which may have been hidden behind the veil of the corporate world all along.
Good post Money Wiz. Marginal utility is an important concept, very few truly understand. I have a post on this concept applied to broader FI goal in my website you may like: http://tenfactorialrocks.com/you-cannot-shrink-your-way-to-fi/
Just checked it out, nice post! I definitely agree with saving on the big expenses so we can live freely on the smaller ones.
The glitz of lavish homes and cars wears off quickly, leaving the buyer depressed and empty-feeling. The phenomenon is called “hedonic adaptation.” I think we’ve all experienced it, even on small purchases of items we coveted for a long time. The thrill is soon gone. Those who learn this lesson are more likely to retire early and very securely than those who don’t. 🙂 It’s kinda sad observing folks who never learn that you can’t spend and splurge your way to happiness.
Very true Kurt, the sooner we learn the hedonic adaptation lesson, the sooner our bank accounts will thank us.
I am interested in a smaller or tiny house in the future but still plan to convert the couch to a guest bed. It’s something I haven’t been able to mentally give up yet. There is something about staying up late with a visiting friend and not worrying about getting home because there’s a guest spot. However in the grand scheme of things, for any more than 1 visitor, in theory living tiny means I can afford to get the friends a hotel room for the night.
Living smaller appeals to me for less space to heat and cool and maintain too. 🙂
If I ever get a house, the “guest room” will definitely be Murphy bed. Those things are so practical!
Nice post. Some people claim that a big house (the biggest one can afford!) is an investment. Not true! Just the upkeep, maintenance, repairs, etc., all the things you mentioned, will eat up any capital gain. Not to mention the cost of keeping up with the doctor/dentist/lawyer neighbors’ cars and fancy vacations.
Cheers to simple living!
ERN
Very true. Houses, especially big ones, have several very real expenses which are often ignored.
I am 41 years old and married with no children. We rent and have no cars. I am about$ 32,000 in credit card and loan debt but slowly moving it to 0% interest cards and paying them off in full before the deadline. I now make $60,000 yearly and always wanted a big home, just recently I decided I would like a 2-3 bedroom house so we can have an office and a room to work out in. We would like about an acre of property. My goal is to pay off all of my debt in the next year and then start saving in a Roth IRA. A federal credit union is offering a $4.00 match to every $1.00 I deposit up to $7,500 for a First time homebuyer program (10 month minimum.) Would you recommend that I participate in the program or just keep plugging away at my debt. I am so happy I read your article as I never read the articles that appear on yahoo cover page.
Hey Jo-Ann,
A cornerstone philosophy of this site is the old and long forgotten practice of delayed gratification, meaning the avoidance of debt and delaying purchases until we can afford them. I’d argue that nobody can truly afford anything until they’re debt free and have learned to start running a budget surplus.
The thing that depresses me about these multi million dollar homes is that they seem so secluded and lonely. I live in Pasadena CA and a short walk takes me south into San Marino, where you can stroll by huge houses, but they are all behind big gates with long driveways walled off from anyone else. I don’t see any sense of community. I would much rather live in less expensive home where I can interact with neighbors, have a chat over the fence, share some home grown veggies from our garden, and see all the kids in the community happily playing together.
Good point Martin. These houses are definitely secluded and lonely, aside from the frequent annoyances of maids and handymen needed to keep these monstrosities running.
even a small house or boathouse important things is you fell undiscriminate the people who sorrounded with you is your real friend a real neigbor a real family they never abandone with you when your in trouble,you fell comportably.
This is SO true!! There is an opportunity cost of every dollar you spend. You may spend $3 on one bottle of water on a really hot day but how much would you pay for the second one? You may decide $3 is worth it at the time but another water bottle would not provide more happiness if you already quenched your thirst.
It is so important to learn this before you start spending your money on things you think will make you happy. When in reality once you have enough, more stuff doesn’t bring you happiness and could start making you depressed.
Just wanted to say that I like your focus on wanting less. Being grateful for and happy with what you have is the gift that keeps on giving.
Thanks Eric, and I couldn’t agree more.
To quote my long-gone mother, “You don’t own a house. A house owns you.”
Great quote, and it’s too true.
Why don’t you just ring your own phone when you lose it in the house? Just remember to keep it on, charged and high volume! 😀
I always keep my phone on silent 24/7. I like the peace and quiet… I guess that’s a luxury people with mansions don’t have! #FirstWorldProblems
I have always told my wife that if we win the lottery or something and become rich we would not buy a big house. Rather we would be homeless, possession-less. Just the family, the clothes on our backs and an American Express Black, a Chase Sapphire Reserve card and some cash. Travel the world with a couple suite cases. Take only memories, leave only footprints.
Sounds like a free way to live! I love it.
I can vouch for million dollar houses not being all they’re cracked up to be. I happen to live full time in a million dollar house. It’s clad in asbestos, still has lead paint, the walls are crumbling horse-hair plaster, no air conditioning, Formica counters throughout, the floors change from room to room with none of them level, and the fabric covered wiring is still in place, though fortunately no longer in use. There are even still lumps of coal in the basement next to where the coal burning heater used to sit.
You know in San Francisco a million dollar home would be a below average place since the median home price is almost $1.2 mil
Every New Years we rent a big house with several other families (it’s like 9 bedrooms, so 18 adults + kids) and every year we love it. The entertainment/theater rooms, the multiple hot tubs, some have indoor pools, etc. It’s fun, then we go home (and our home is nice too, just not over the top and we have zero hot tubs).
The reality is that those homes take a lot of time and money to maintain. And there are only so many times you can really enjoy those trimmings before the extraordinary becomes the ordinary… then you have to pay even more to find excitement.
So every New Years we rent this amazing house and we love it, but we wouldn’t want to live there year round.
Good post
‘nobody is home’ is not entirely accurate. Some inhabitants of larger homes are not working – they don’t have to. Houses like this would be empty for weeks because whoever lives there is visiting other places like little house in Italy or France they got. If big house meant nothing, there would not be so many people doing it. There is a lot of trough to what you write here but it is oversimplification (is this even a word?)
I would not know what to do with a house like that or how to maintain it but I am sure there are people who are quite comfortable with this. As in this old joke: ‘You don’t need it if you have to ask’
Cheers
Fair point, but I’d counter by saying there are plenty of things tons of people do that make no sense whatsoever.
“If credit card debt at a 19% interest rate was a bad idea, then there would not be so many people carrying a collective $1 trillion in credit card debt…” See the issue?
No one talks about law of diminishing return enough. It is pretty awesome. I remember my high school economics teacher talking about movie house popcorn. The first bag is delicious, the second is not as good, by the third you are ready to puke.
I understand the law of diminishing returns but I wouldn’t mind being rich enough to try it for myself. That first 1,500 sq ft would be totally awesome. The next 1,500 sq ft would be great. Another 3,000 more sq ft would be very nice. Trade up adding another 6,000 sq ft would be OK. Finally throw in another 12,000 sq ft for a total 24,000 sq ft would probably be a lot of walking. Double that and I would need a golf cart to get to dinner.
Maybe, but I know I’d find the increased cleaning and maintenance annoying. At some point the size starts eating into your time.
If you have a huge house and don’t want to spend your own time on it, you better be comfortable with invasion of privacy (cleaning crew) or enjoy playing secretary (scheduling and overseeing maintenance jobs). Neither are my idea of a good time.
Pffft, cleaning, maintenance? You think Richard Branson cleans all his own mansions? Just saw the documentary on Necker Island. That is the life, private island, 100 person staff, TWO general managers to handle everything, TWO hot secretaries to read your emails and dictate replies as you sit by the pool and I bet he makes a profit on the place. Even better he is rich enough that he really doesn’t care if the place makes a profit or not. And yes, they do have golf carts on the island… And a helicopter. That is how the truly rich do it, privacy is for those who can’t afford a staff to wait on you hand and foot.
The mega-rich are going to work every day, but they are going to work of their very own DESIGN. Try doing that when you flip hamburgers for someone else.
Be grateful you live in a small apartment; I rent a room in an overcrowded (10 people) small (3BR, 1BA, no basement or upstairs) house. I’d like to be self-employed, making a lot of money selling stuff online, but I am unable to do that in this house.
Again, why not move somewhere with more affordable rent?
Why not increase your marketable skills so you can make more money?
If you’re not happy with your situation, then things can only get better from here. Make a shift and try something new. You have everything to gain and nothing to lose.
Terry, the difference between the rich and you is that they do not stop at “unable”. They look at their obstacles as simply that, something to overcome to get to their goal. Instead of just saying “I live in an overcrowded house so I am unable to….” They think, “I just need to find this much space to do what I want”. Instead of thinking, “i don’t have money to start this business” they will think “Who do I give an opportunity to provide me money to start my business?”
For example if you want to sell stuff online Amazon will actually warehouse, store and ship your goods for sale. You could literally need no space by having your manufacturer ship directly to Amazon and you could work out of a Starbucks on a laptop.
I’ve been thinking the same thing: I need 300 square feet of living space to do what I want, and I can’t afford that on my current income. I have an inventory (approx $15K) in storage. Since I don’t have a car or a license to drive one, relocating to a different area poses logistics issues. Liquidating my inventory in order to move would be unprofitable and would leave me with nothing to sell. It seems clear to me that eBay is by far the most efficient and profitable venue for me to sell, due to Amazon’s high fees and inflexible shipping charges. (I can ship 5 items for the cost of shipping one item – who needs Amazon’s inflated shipping charges?)
I have a large quantity of items under $10 and Amazon is not the right place to sell them.
Terry, coming from a place where I am trying to help you, I see a negativity in your response. “I can’t afford”, “I don’t have…” “Not the right place..”
Sure Amazon costs more but you got to factor in your storage costs, travel costs to your storage and labor to ship individual items as opposed to shipping it all at once to Amazon and getting rid of your storage space. Your time is a resource as well. You can consider a friend or find a partner who might have extra space in their garage? Can you charge more for your item to cover Amazon’s higher shipping? How about you try both Amazon and Ebay and see which works better?
Yeah either way you might not make any money to start but most businesses lose money at the beginning and if it not a business that can earn you real money eventually then it is not worth pursuing. If the stuff you are selling can’t be grown and will be stuck at a few hundred or a few thousand dollars forever you need to be selling or doing something else. Sometimes you just got decide if something is going to work or not, cut your losses and move on to something better.
$15K can be good seed money for a number of different ventures. It is even possible to get started in real estate with very little money (but a LOT of work and a bit of luck) if you know how to go about it. Don’t know why you don’t have a license but Uber will actually help you lease or rent a car to drive. You might kill two birds with one stone. Earn extra money AND get a vehicle to use for your other business.
House sitting for three weeks and now you’re an expert on owning a big home. To each their own. Live and let live. Perhaps people in big houses can’t fathom the pathetic existence of living in an apartment or shoe box dwelling. Why criticize wealthy people who have big houses/invest in real estate? Million dollar properties are an investment for the mega rich. But all you can see is the fridge that broke down, the landscaper, and housekeeping costs. Sorry, this article sounds like it is coming from someone stuck in mediocrity with no life goals that can’t afford a house….so let’s pick on the rich.
Exactly lol my friend I was waiting on a reply like this. I’m sure as with everything it has it’s ups and downs but let’s not just act like we live better and are better than the ultra rich with multi million dollar homes just because you don’t have that life and only spent 3 weeks there. Sounds like you’re just trying to make everyone feel complacent. I’m sure there are those who own those homes who are happy with there life and free of financial burden.
We bought a large house, and it really has made life easier. I live with my husband, two children, and my mother with dementia. A large house gives everyone their own bedroom, a bedroom for a caregiver, and plenty of extra space too. I am an avid DIY person, and the big basement gives me nice workshop space. We just felt like sardines in our 1050 square feet. I will say one thing though: we are struggling with energy cost. Electric bill was almost $600 one month. We are spending a lot of money to go greener.
I have had this type of experience before with a car. I bought a used and a new car within several years of each other. They both got me from point A to B. The only difference was the other took way longer to pay off. By the 3rd year I couldn’t stand to write the check anymore. Lesson learned for me. Pick something simpler and keep my money for things I want or really need to have. Paying more didn’t give me more pleasure just a bigger headache.
Thanks,
Greenbacks Magnet
“Minneapolis’s richest, most desirable neighborhoods”
St. Paul is a great classy and historic city to live in and is easiest the most desirable part of living in this region.
The problem with articles like these is that they feature someone of a specific mindset who then tells you to expect to feel the same way they do. It’s ludicrous and puerile. If you aren’t raised around having domestic staff, then it might be weird for you to have people in your house. But you know why rich people have them? Because they’re an asset to have. It’s actually very easy to get used to having staff in your house, which is why, again, people have them whenever they can afford to.
You know what’s weirder? Having a lot of money at your disposal and whining about having someone else do your chores for you, whinging about all the time that gets freed up for you to do the things you like doing. I was raised with a live in housekeeper and a live out houseman, there was always someone in the house and I still managed to have my privacy. Trained domestic staff are trained to be discreet and unobtrusive. They can be as much or as little of your household as YOU choose. That’s the point.
As for not feeling any different, I’m sure you didn’t. Why would you when you kept your exact same lifestyle. It’s not as if you had the salary, social clubs, travels that would go along with being able to afford such a house, so yeah, nothing in your mindset changed because nothing in your life changed. It’s not your house. Not your dog. You didn’t choose the sconces or the marble or anything. You didn’t choose it and your lifestyle didn’t change. and you’re here complaining about feeling the same. Duh.
As for the things that malfunction…that’s why you have staff, to handle headaches. If you don’t get what money can do for you and how to make it work for your life, of course all you’re going to do is complain about the things you’re not used to experiencing in your own life. And seriously, which cell phone doesn’t have a phone locator now? Even the TV remotes have them, so again, you’re whining about nonsense.
Interesting perspective.
Not sure I understand the first part of your comment. You’re on a blog so of course you’re going to get one person’s opinion.
But I think you and I are mostly in agreement. My whole point with the post is that it’s all about lifestyle, not the house. A lot of middle class folks get caught in the rat race, thinking they just need a more expensive house or few extra bedrooms to finally be happy. Like you said, if your lifestyle doesn’t change, neither will your happiness. 100% agree there, and that’s what this blog is all about.
I personally don’t think I’d ever get used to staff in my house. But I wasn’t raised with staff as part of the family, so that might be part of it.
I also agree that avoiding chores you don’t want to do is a nice convenience. I just don’t understand why someone who doesn’t like chores would buy a big house requiring tons of chores.
I’m just amazed that they have 4000 Square Foot apartments and that you referred to it as small when returning to it, guess it’s all perception!
I wrote “4,000 less square feet of it”
The apartment you’re referring to (the one I lived in when I wrote this article) was around 900 square feet in total.
The best thing about my custom-built 3000 sqft house is the priceless view.
If course, I saved hundreds of thousands by buying a decrepit crack house and being the general contractor/interior designer myself. But this is Los Angeles, so even a decrepit crack house often sits on a million dollar lot.
Great post, and excellent blog!
I couldn’t agree more! I house sit regularly in La Jolla, CA and the loneliness and fear is completely amplified by being in a mansion by yourself. I’ve always been happy to return to my studio after being in these 10,000 sq ft homes.
Funny how that works!
I don’t know, I’d love a chance to live in a luxury home. I can see how actually owning it would be a hassle, but if you can afford the maintenance, why not? As you said, life goes on either way, but with money, you get to come home to luxury. And if it was your house, you’d install the kind of showerheads you like – same goes for everything else. It would be your luxury choices, not someone else’s. Maybe you like to play pool, bam, a nice pool table. Or want to swim in a pool? Bam, instant mini-vacation. My shower is barely big enough to fit me and I’m a size 8. I would kill for a nicer yard. I don’t even own the house, I can’t paint or put too many nails in the walls. Haven’t bought a new mattress in a long time because we’re saving for a downpayment on a very modest house (thanks, Colorado, for the unaffordable prices). It’s easy to say that money doesn’t solve all problems or bring absolute happiness; it’s much harder to admit that having crazy money is awesome and would significantly improve one’s life. I know it would absolutely change mine.
Felix Dennis has a great section in his book where he spends 5+ pages explaining why being rich doesn’t make him or any of his friends happy. And he closes the rant with “and I wrote all this from one of the most beautiful houses in the world.” (paraphrased)
Hard to believe, but I’ll take his first hand experiences over my own imagination any day of the week.
i have a 3500 sq ft penthouse in Las Vegas on the strip. Perfect size and location for me.
At this same price, i could buy 20,000 sq ft house but chose to live small and on top floor.
My friends always tell me that i could buy a huge mansion for the same price just 10 miles away from the Las Vegas Strip…
I said no thanks, what would I do with a huge house in the middle of the desert.
Much more fun and exciting on the strip.
It’s not the size that’s important, it’s how you use…i mean how you find the location…i mean the location is important.
You know what I mean…
Have fun…do what makes you happy!!!
You know what the real estate experts say, “Location, location, location!”
“I can’t wait until all of the people day dreaming about a huge mansion get their first chance to search for a lost cellphone in one”
That’s a good joke. It’s funny because that will literally never happen. Not unless the federal government passes a law dictating that all mansion owners who can afford the upkeep have to provide cheap rent but even that’s a massive dream.
Money can’t buy you happiness …think I’d rather rent one out for my bday week and it has to have a view of the beach! Friends visiting every other day to cook, sing and dance! Oh and a live salsa band. 🙂