Living VERY Large: For the Ultra Wealthy, Bigger is Still Better
Posted March 5th, 2012 | by The Update
Watch to see what luxurious features fill the homes of Tom Brady and Giselle Bunchen, Hyatt hotel heir Anthony Pritzker, and many other multi-millionaries.
From the Wall Street Journal: Shooting ranges, an indoor tennis court, a bedroom bigger than many houses: For a small cadre of very wealthy owners, building big is back.
Four years into the housing downturn, what little new-home construction remains is focused on downsized living. According to the Census Bureau, the average size of a newly completed single-family home peaked in 2007 at 2,521 square feet, capping nearly three decades of growth, falling to 2,392 square feet in 2010.
Then there are the exceptions, a small cadre of homeowners who are currently building mansions that are 10 times that size. Interviews with the small pool of luxury builders who handle such projects, and a perusal of permits in wealthy areas including parts of Connecticut and California, suggests that for some of the mega-wealthy, big is back….
At this rarefied stratum, luxury builders say emotion and desire often drive demand. “You don’t need that much space,” says a Dallas businessman who recently completed building a 28,000-square-foot home for himself and his family. He says he and his wife planned to build a roughly 13,000-square-foot home, but their plans just kept on growing. “The architect was a really good salesman, [and] we just kept dreaming, I guess.” Builders say owners are building their dream home or building for more or older children, and renovating an existing property, even extensively, might not satisfy their checklist.
Click here to read the full article on WSJ and to see more details on some of the latest extra-luxurious homes in construction right now.
Looking for a home that goes above and beyond in luxury amenities? Check out these three exceptional Fort Worth area homes on the market now, and find even more at briggsfreeman.com.
6108 LD Lockett Road, Colleyville
Exquisite Tuscan inspired contemporary masterpiece with landscaped gardens on 4.5 acres complete with vineyards, pond and fountains; barrel tile roof and stone façade. This estate provides one of the finest opportunities in the heart of North Texas. Well planned architectural design details at every turn, and international appeal, unparalleled… Click here to continue reading about this property.
9341 Bella Terra Drive— Fort Worth
A remarkable custom built home on the perfect lot in Montserrat. Multiple living areas, cook’s dream of a kitchen, wine cellar, wet bar, media room just some of the features of this home. Master bath has heated floors and towel warming drawer, dry sauna, fireplace. Creston electronics with touchscreen controllers for lighting, security, cameras and audio… Click here to continue reading about this property.
7937 Blenheim Place— Fort Worth
This private and exquisite home is a perfect example of form, function and luxury offering exceptional quality and attention to detail. Nestled on a private 1.39 +/- acre lot in exclusive Somerset Estates, this traditional home offers amenities that would be hard to find in most other homes. Spend the day relaxing by the salt water pool, and your evenings entertaining guests by the outdoor fireplace and kitchen… Click here to continue reading about this property.
Also see some exceptional extra-large mansion homes in the Dallas area on our sister site UpdateDallas.org.
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For information on exceptional luxury homes like this one, visit briggsfreeman.com, ranked the #1 brokerage website in Texas and #3 in the nation.
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