Fantasy real estate game
You’ve likely heard about the Goldman Sachs executive who has put his Nantucket estate up for sale, asking a whopping $55 million for the 5.75-acre waterfront property, which comes with a main house, guesthouse, and two garages, among other amenities.
If someone actually pays that amount, it will by far beat the $26.5 million record sale price reached on the island last year.
I don’t know about you, but this story has had me indulging in some fantasy real estate purchases.
Though Nantucket is a lovely place, I’m not sure I’d buy a $55 million home on the island – if I had that kind of money to spend, that is. I grew up here in Massachusetts, so I’d want to spend that money someplace a little more exotic. I’m thinking palm trees, soft sandy beaches, some place you can hear steel-pan drums.
My sights are set on St. John, a lovely island of about 19 square miles in the US Virgin Islands. It’s right near St. Thomas, but unlike that island, St. John’s port is too shallow to allow cruise ships to pull into the harbor. There is also a national park that protects huge chunks of the island. Anyway, you can buy a vacation home there for under $3 million … which would, if I’m playing with a multimillion-dollar budget, leave me room to buy a guesthouse for visiting friends and budget enough money to travel to the Caribbean regularly.
Or maybe I really want to buy a little villa in Tuscany …
At a time when the financial markets are, shall we say, a little messed up, and the housing market is still in flux, I’d like to know where you’d make a fantasy real estate purchase. Would you want to help set a new real estate record on Nantucket, or would you look elsewhere on the globe?
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For $55 million, I'd go on a global buying binge:
- ski house in each of the following, Alps (multiple), Vermont, Maine, Colorado, Whistler/Blackcomb
- home in the Caribbean
- home in Australia
- home in China
- home in Costa Rica
- home in Tuscany
- home in Amsterdam
- home in London
- home in Brazil
- home in Mexico
- home in Sweden
- home in Ireland
I would just like to build a home on a bigger parcel in the little town that I live in now. This would be a place that my spouse and I could comfortably manage (I have some health issues, and therefore special needs), but still have room enough for family and friends to come and stay. My property would be big and sunny enough for some fruit trees, and autumn pumpkins. There would also be a safe yard and pleasant "sunning" patio or deck for my bullmastiffs.
I used to think that I might like to buy a "haunted" castle, either on a tiny island tucked among the British Isles and Ireland, or perched atop a craggy cliff on the coast of Scotland, so that I could live in an atmosphere of Gothic space and peace. I also once thought that it might be nice to buy a lovely place in the Hawaiian Islands, replete with orchid strewn lagoons; you know, sort of a balmy and dreamy respite.
As a kid, I used to fantasize about buying a chunk of a Disney theme park, and living out my life within one of the rides or exhibits. ;>)
Probably a weird choice...I'd want a summer home on the Baltic in Sweden.
I was an exchange student there in 1998 and it is by far my favorite place in the world to be and I have many friends there.
Otherwise, I'd want a home somewhere else in Europe.
My latest escapist habit is to search real estate listings for multi-million-dollar houses in Honolulu, especially near Diamond Head. If I had the money to splash out, I would find a beautifully-made Hawai'iana-style house with folding walls and a large lanai for plenty of indoor/outdoor living. Just sitting in comfort, contemplating the views, listening to Hawaiian music, and enjoying the warm air would be like a non-stop vacation. This is the place I'll be going in my head as I shovel snow this winter.
My dream is actually being able to buy a home! This market is horrible for buyers, it is a myth that this "housing crisis" has made it a buyers' market. Everything is still overpriced and needs tons of work. My ideal home - a 3-4 bedroom colonial with a large kitchen, fireplaced living room, 2 bathrooms, a good sized master bedroom with a walkin-closet, on 3/4 of an acre on a dead end side street south of Boston, but not too far - maybe Easton, Canton, Norwood... Of course these exist, by they are half a million dollars and I would need one for under $200,000 to be able to afford it. It's okay if it needs work, but it must have good bones, no huge issues like water damage and mold, needs new wiring, needs to be connected to sewer, etc. If I was to go crazy, I'd also want a finished basement, a walk-up attic, and a 2-car garage.
penthouse in south beach
rowhouse in london - farrington or soho
loft in NYC
condo in Ibiza
the rest of the cash for lavish spending
North Shore of Kauai. Maybe down the street from Pierce Brosnan. No contest.
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