A $10 million mansion costs you again every year 🏠💸
Buying the house is $10 million, then closing costs hit $300,000 and furnishing runs $500,000. After that, ownership runs over $750,000 per year, driven by staff and grounds ($250,000), maintenance and repairs ($200,000), and property taxes ($150,000).
That annual spend doesn’t pause when the market does. It needs steady cash flow, not just a big net worth number.
At $75 million net worth, the mansion stays a choice, not a strain.
#Money #RealEstate #LuxuryHomes #Mansion #WealthInequality
A $10 million mansion costs you again every year 🏠💸
Buying the house is $10 million, then closing costs hit $300,000 and furnishing runs $500,000. After that, ownership runs over $750,000 per year, driven by staff and grounds ($250,000), maintenance and repairs ($200,000), and property taxes ($150,000).
That annual spend doesn’t pause when the market does. It needs steady cash flow, not just a big net worth number.
At $75 million net worth, the mansion stays a choice, not a strain.
#Money #RealEstate #LuxuryHomes #Mansion #WealthInequality