How rich do you have to be to buy a 70 million dollar house?

dubs confirms
argument over.

lmao this is actually Notch, AKA the guy who made minecraft's, house. he out-bid Jay Z and beyonce for it and Jay Z said "I can't believe I got outbid by a nerd". So if you're worth 1 billion, 70 million aint shit.

Cool story, nerd

>paying that much for a house

Your parents are dumbass marks tbqh

I guess you would just donate your net worth to charity?

7 million is nothing that will get you a 3 bedroom in LA

National average for property tax is 1.1%. Have fun paying the gov 3/4 of a million every year.

Why would you want a 70 million dollar house. There are so many things you could do. You could recruit a private militia and become a quasi-feudal lord in Nigeria and beat up Boko Haram. You have no imagination.

this is for people who can do that and also buy the house

>I have exactly 70 million dollars
>Time to finance a 70 million dollar depreciating asset

oh god the places id see

the natives id rape

*sighs*

But real estate is an appreciating value m8

>70 million dollar home
>depreciating
Time to take an econ class user

Considering they both came from poor rural families and managed to build themselves to that I think they're pretty smart.

most people who make that kind of money are. the real smarties are the poor ones like you user :)

Land appreciates. Houses do not. In no search query that is any combination of the words "house", "home", "appreciating" and/or "depreciating" will you find a single reputable source that claims expensive homes should be treated as investments. Especially not in the current housing climate.

So youre buying a house but not the land its on? Dude youre a fucking idiot houses can and do appreciate
>the current climate
Its not 08 faggot. Please my dude do a modicum of research before posting any more. Like even a simple google search will show you a giant fucking mansion is almost guaranteed to appreciate especially in an urban area

He's probably confusing houses with cars because his home is in a trailer park.

The land isn't worth 70 million. The house makes up the bulk of the payment, and mansions appreciate at pretty unpredictable rates

Unpredictable rates yes but unless youre in detroit or some shit a well built and well maintained home will at the very worst hold its value in relation to inflation and in most cases appreciate. Im not saying homes are a good investment but to say theyre gauranteed to bleed money is retarded

>Me: "Expecting a house to appreciate just because it costs millions of dollars is a very bad idea."

>You: "So youre buying a house but not the land its on?"

user

You literally just agreed with me and phrased it as a counterpoint

My dude. Please. You are connected to the internet. What a wonder of technology that it gives you the entirety of human knowledge in an instant. Please just educate yourself and stop this foolishness. Here ill even spoon feed you the first link from a nifty search engine called Google
google.com/amp/www.zillow.com/research/zillow-home-value-appreciation-5235/amp/

The problem is that even when they do appreciate, the rates at which they do are abysmal to the point that they aren't worth the investment. Perhaps that user means you're losing money compared to other investments that have more stable or relatively predictable rates

Probably have the minimum of 200 million in assets and stocks. You have to be dumb ass to think you could afford it with anything less. property taxes will be a pain, cause shitty California want to distribute the wealth. Plus water is gonna be a bitch cause of California water drought. In all honesty not even major celebrities have those big houses. Mark Wahlburg mega mansion is like 35 million. Shit area,Shit taxes, Shitty people. Just invest in foregin country real estate, much cheaper and nicer.

So dont live in california. Wtf dont be a dumbass. Beachfront property in alabama has an amazing view amazing food and amazing weather (usually) and none of those issues

70 million. How are you this dumb you said it in the post

are you 16?

Thats basically what I said. buying houses Europe,France, even Morocco is a great idea. Houses that cost 1 million there is like 5 million in USA.

>spending 70 million on a lame ass house just to impress other people

If I had 70 mil to blow on a house I'd make a sick ass fucking compound that was built from the ground up. Hydroponics and greenhouses, rotating grazing with chickens, pigs, and cows, wine, beer, and liquor facilities, a bunker, an armory, a cannery, I could go on and on. I wouldn't waste it on a cheap ass looking new money mansion.

Oh shit this beats my compound idea by miles.

>go to some third world shithole
>become powerful warlord despot
>fuck all the young virgin qts
>improve quality of life for all the dumb poor people so they revere you
>end up making money by selling shit

> alabama

and shitty people

No? Was I supposed to watch the video to get the joke? I just read the post

>Entirety of human knowledge
>Internet
>Depending on search engines that tailor the results you seek based on what they want you to see interspersed with malware producing sites.

I miss web rings. I really really do.

>living with yuro scum
Nice try ISIS

/pol/ pls go

>autism fort
Ok well I guess heres an example of a house that will depreciate

M8 people who can afford oceanfront property are generally pretty good neighbors

Retarded. Go study finance and real estate investment.

My dude. Please. One google search

"home prices have appreciated nationally at an average annual rate between 3 and 5 percent"
t. Federal Housing Finance Agency

Better question is how much would you need to have to feel comfortable buying a 70 million dollar house.

Probably ten times that much.
Because if you're going to pay that then you're going to either have to have enough money to be able to do upkeep for as long as you live OR have a high level of cash flow..

But most people who buy something like that see it as not a home but a rental property they can resell when the going gets tough. Just a big chunk of change.

My question is, how can you live in a place that is not really a home.

BRAAAAAAAP

>depreciate

Why the fuck would I give a shit about depreciation when I have no plans to sell? It beats buying a shitty mcmansion.

I am pretty sure pornos are filmed there.

I dont get this meme

>what is equity
>what is a mcmansion
>why is an autism fort a bad idea
Theres a lot wrong with this post but you have extreme autism so ill just say good luck and god bless

I will never buy a house. Better i live in nice Hotel rooms.

>buying a big ass house instead of land

Quickest way to spot new rich outside of them wearing that stupid ebene/damier LV pieces.

I'm sure the people worth hundreds of millions that bought this house will keep your 6 figures at best advice in mind next time

Notch is a billionaire

most likely 300M

OP didn't ask if it was a good idea

He's also new rich

You have to have at least twice as much

*BRRRRAAAAAAAAAAAAPPP*

It's not liquid asset, you retard. What if he suddenly needs 5 million for his business or something? You don't sell 70 kk mansion in one day.

>Europe, France

how fucking stupid are you? and you cant say its a good idea to buy a house IN A WHOLE FUCKING CONTINENT

and atleast in finland its not a good idea to buy a house in helsinki atleast. you get a 30 square meter 1 bedroom apartment for 400k

RE appreciates as well you retard

it's for scat fetishists, you won't understand

HE BLANTANTLY CALLED IT A DEPRECIATING ASSET LIKE BUYING A HOUSE IS THE EQUIVALENT OF SOME NIGGER BUYING RIMS FOR HIS 05 IMPALA

N O T C H
O
T
C
H

That fat cuck got lucky and now he can't even be happy with all that money. Fucker probably doesn't even lift.

I'd buy Eleiko plates and I'd buy a smith machine and put Eleiko plates on it. I'd never use the Smith Machine because it's awful but it'll be there just to prove a point.

Man, If i was buying a 70 million dollar house I'd want it to be way fucking better than this shitty place

Why such a small pool, can't do laps in that, or jump off the roof into it
Why can't you drive straight into the building, etc
Why a single floor building
Why does all the furniture suck

Overall I would not buy

Kek

house is a liability (maintenance, bills, taxes... it all drains your funds)

it becomes an asset when you start renting it and it brings you income

@5% interest one would have to qualify to be able to come up with 373583.48/month for the term of the mortgage.

Give of take a little.

>t. poor faggot

>2:13
I guess 70 million dollarydoos wasn't enough to buy enough taste not to get a leopard print bed, shitslap

>be that rich
>buys a boring mansion
I'd build myself a human sized hobbit hole, or replicate one of the houses from skyrim but put in electricity and running water and shit.

You don't know peoples wants/needs enough to judge them retard

taxes on a 70 million dollar house are going to be around 840k-1.7 million per year or more property maintenance and insurance and utilities are going to run close to 800k per annum the interest is going to cost you like 25 million on a 56 million dollar mortgage assuming you put 14 million down. With other expenses you are probably looking at 130-150 million dollars in pure cost if everything goes well over the course of 20 years. which means you have to have 130-150 million in spare cash you don't need at all that you don't want to invest just to spend on one of your homes. So you have to be one of the wealthiest billionaires on earth to afford a 70 million dollar house.

More than you have or ever will.

Why would you even want this? Money and nice things can be good but the only reason anyone would have this level of house it to show off/try to fill the emptiness.

There's more to life user.

That honestly looks pretty shitty for 70 million

came here to post this

nice shitty fucking EDM music. The interior is decent but still retarded advert also they couldn't get more than two sluts to awkwardly walk around. it should have been a crazy party

he is confusing good houses with fucking autistic mcmansions. he can't help that he has such shit taste and autism

then he could pull out a 5 million dollar loan using his 70 million dollar asset

Why? If its for sale for 70 mil and you walk up to them with 70 mil theyll sell you the house 100 times out of 100

who would give a loan to a retard who bought a mansion with all his money? A quite risky operation if you asked me.

This home screams new money. Its style and architecture will go out of style in a decade and I bet it sells for less that $8mil and that's only because of the property and the view. It looks like the set of a Blacked.com video or a property The Weeknd leases for 3 months to do coke and rape women at... cheesy pseudo-wealthy.

>why would a bank accept a mansion valued at 70 million as collateral for a loan
Gee idk

Why are all you salty fags using new money as if it were pejorative?

cause we're all old money. What do you think we're doing here with our time instead of making money? We have plenty enough already

I think what he means to say is that the maintenence required on an expensive house will most likely outpace its appreciation. In which case he would probably be right.

It becomes an asset once you pay it off. until then it's just debt.(even if you're renting it)

Just like your car. If you make payments on it, you don't own it...the bank does.

My dudes Houses can be an investment just risky as fuck.

My aunt sold her house when Ireland was one of best economy in Europe in 2000-2007 era. House prices were insane. She got nearly 3 times its value it has now since crash etc almost 1 mil since in city.

She lives off the money and travels for like 9 months in the year, she's like 82.