OK, Why Do Some Rich People Buy Such Gigantic Houses?

United States
June 6, 2008 9:06pm CST
I've heard of some celebrities having these huge houses with over 100 rooms in it. And, I wonder why they would want that big of a house if it's just them and their family? I mean, I can understand them wanting to have a few friends stay over, but do they really need all those rooms? Some of these celebrities end up in foreclosure. Perhaps they shouldn't have bought such a big home in the first place.
2 people like this
19 responses
@dragon54u (31637)
• United States
7 Jun 08
My mother explained to me once that it's all about appearances. If you don't appear to be successful, people who are important will think you're on the way down, your popularity isn't what it should be and they'll either give their business to someone else or get another actor or whatever. It makes no sense to me.
2 people like this
• United States
7 Jun 08
I think I have a different view of what a successful life is. As a Christian, I think being successful is living a life that points to God. Perhaps that's why I don't understand why people flaunt wealth like that. I don't have hardly any money at all and I don't feel like a loser.
2 people like this
@dragon54u (31637)
• United States
8 Jun 08
I'm so very glad that you are like that! So am I. There are so many things that are so important than money and material things. When it all comes down to bare bones, material things don't matter at all--what can they really give you? Nothing of substance. I would rather have my family and friends than all the riches in the world. I am a very wealthy woman, even though I don't have much money. And I always will be. I'm so happy that you've learned these lessons and will have a wonderful life.
@iamnes (325)
• Philippines
7 Jun 08
i agree, basically they just want to flaunt their wealth and they have nothing to do with their money. actually buying those big houses is a great investment as long as you could fully pay for it and its tax otherwise it'll just be foreclosed by the bank/gov't and you'll end up losing the house and your money. it is a great investment because land appreciates in value, that's why if ever they buy big houses it will surely be worth a fortune in the future, way more than their purchase price. it is a good way to earn money, passive income - you are not doing any work and yet the value of your money (property)is increasing.
2 people like this
• United States
7 Jun 08
Lately, though, I've been hearing a lot about celebrities being foreclosed upon and having huge house maintenance bills that they can't pay.
1 person likes this
@iamnes (325)
• Philippines
9 Jun 08
that's just sad. their investment goes to nothing... i hope if i have that kind of property i will be able to maintain and afford it completely otherwise it's just so depressing and senseless.
@sk66rc (4261)
• United States
7 Jun 08
Rich & famous, or at least rich... I agree with most of the people who responded here... Some may be compensating for something, others, just cause they can... Personally speaking, I only need 4 essintial rooms, bathroom, kitchen, livngroom, bedroom... And that's pretty much all I have... I live in a ranch style house... 2 bedroom, decent size living room, kitchen & 1 bathroom... Good enough for me, my daughter & my girl-friend... By the way, did you notice some of those rich people who are living in those HUGH houses are single? One person living in a mension, could never understand that...
• United States
7 Jun 08
And, I hear that a lot of those people don't spend very much time in those homes.
1 person likes this
@elmiko (6640)
• United States
7 Jun 08
It doesn't make any sense to me. I've recently heard of 2 famous people getting a foreclosure.
2 people like this
• United States
7 Jun 08
Yeah, I've heard of at least two recently, too. It's crazy because both of them could have bought an extremely nice, large house outright.
• India
7 Jun 08
Well yours is a very good observation,I am sure many of us have wondered at this.In my country too there are many of these Rich Businessmen.Many of them are like that - they like to flaunt their wealth,like to attend parties and throw parties too,like to be in the covers of Magazines and get covered in the Newspapers frequently.Recently there was news of this businessman who is building a 27 storeyed House for himself.The first six floors in this building is for Car Parking alone!Talk of extravagance!!!I think this is just utter wasteful expenditure.Perhaps these people are floating in so much money that they are looking at ways in which they can spend it.Nevertheless it is unwanted display of wealth.
2 people like this
• United States
7 Jun 08
It's even worse when it's a public figure using public funds like Mobutu did in Africa. I don't know, I guess I'm just not the type to be like that, so it's hard for me to understand.
1 person likes this
@biobio55 (282)
• Indonesia
7 Jun 08
They need it so they can throw a big party at home. They also want to show on how success they are. They also need those houses for their celebrity status. After they got the house and discover that they can't afford it, it will end up in foreclosure. I think it is not the celebrity fault all the time, their manager and financial adviser should tell them what is the right one.
2 people like this
• United States
7 Jun 08
I can understand that they want to entertain people, but I don't think they need to have a palace to do so. I know plenty of people with cozier homes that entertain just fine. I would hope that the celebrity would have a brain and be able to decide what they want to buy on their own rather than what someone tells them to buy. I would fire anyone who thought I should spend more than I need to.
2 people like this
• Dominican Republic
7 Jun 08
Rich people are rich people. They have money, dont know in what to spend it, so they buy a big house to have fun and showoff.
2 people like this
@Rozie37 (15503)
• Turkmenistan
7 Jun 08
Well for one thing, a house is an excellent investment if you know what you are doing. But I believe a lot of them get caught up in their fame and go overboard on the house thing. Or maybe it is to compensate for lack of something else. I think that each person has their own individual reason. But one reason they probably all have in common, "If I can afford it now, why not." They pay no mind to later on and it sneaks up on them while they are yet partying the money away. Just my guess.
1 person likes this
• United States
7 Jun 08
That's kinda what the person who responded before you said, something like it's a self-esteem thing. I wonder why they just don't buy a house outright with all the money they have rather than taking out a mortgage on something really outrageous?
1 person likes this
@Kaeli72 (1230)
• United States
7 Jun 08
"Because they can". I knew a pastor who was so obsessed with money and wealth, he would tell us how the rich people lived and that one day, he was going to be like that...enjoy life. To me, having diamonds on the hubcap of your car was a wee bit excessive. But, you're talking about houses. Now, if you're Angelina and Brad, you're gonna need all the rooms you can get *lol*. But, for couples like Tom and Kate , I don't see them having anymore children than what they've got. But then, they aren't the one's cleaning it so it shouldn't be that burdensome for them.
1 person likes this
• United States
7 Jun 08
Lol, it's funny that two people, so far, have mentioned cleaning the homes. That's the first thing I thought of. I think I heard of these astronomical bills some celebrities have for cleaning and landscape these behemoths.
@guybrush (4660)
• Australia
7 Jun 08
It's interesting the pastor was obsessed and greedy, Kaeli72 ... they don't sound like very Christian attributes. Maybe he was in the wrong profession and should have been a pimp instead!
• United States
7 Jun 08
they're most likely just flaunting their new wealth. the "hey,look how important i am" factor. jeez..if i won the lottery or something,yes i'd build a new house,but a modest one.i'd be thinking man,i don't want to clean all of this LOL you have to wonder what on earth they could reasonably do with these huge houses.you'd need a golf cart to go from one end to the other
1 person likes this
• United States
7 Jun 08
I would have a hard time in a house as big as the one I grew up in and it was only about 3000 square feet or so. That house, alone would too much for me to clean. It's almost like these guys have to spend their money fast or else they'll be forced give it all to charity. They can't just hold on to it for the future or anything.
1 person likes this
• United States
7 Jun 08
or pay taxes on it.. yup.just ask evander holyfield.he just went broke from what i heard.i swear none of these people seem to have the horse sense to invest at least part of their earnings.
1 person likes this
@jhartana (1085)
• Australia
8 Jun 08
I did not get it either. I think they just showing off their wealth that they can buy it for fame. Well money cannot buy happiness but I can see these famous celebrities have actually failed. Take for example MJ with his Neverland house, it ends up for sale because he has failed. Although I like his songs but what he has done were not right. If I were a famous celebrity I would not buy gigantic houses, maybe I just buy a nice normal sized house and another smaller house for holiday. I would then donate 50% of my earnings to charities for the third world countries. They are the ones who needed the help but not fame. I always look down but not look up thinking there are lots of much unfortunate people that I feel I want to help. Even right now I stay in a small 3 bedrooms townhouse I am more than happy. More importantly I don't need fame and I just want to live normally.
1 person likes this
• United States
8 Jun 08
I can't argue with you there, that's for sure.
@Hatley (164485)
• Garden Grove, California
7 Jun 08
I think that they are doing oneupsmanship on their wealthy neighbors shouting look at my house,its bigger thanyours. seems to be to be absolutely unpractical to buy huge when they do not need all that extra room. they should keep some of their money in savings for heavens sakes. what if their popularity wanes or their health fails what good'will that huge house do them then?
• United States
7 Jun 08
I wonder why some of these people don't seem concerned with the future, too. I think they just assume they will always be rich and popular.
• India
7 Jun 08
I wonder!! Look at Mukesh Ambani and his huge mansion. I have forgotten the details now, but I started a discussion on it once. A six-member family needs six hundred servants just to maintain that house. I guess people with money are just crazy, and maybe they have to live in a way that differentiates them from others. Cheers and happy mylotting
1 person likes this
• United States
7 Jun 08
It's like they're living like kings. I can understand why someone would buy a big piece of property for privacy, but a huge house?
@drannhh (15240)
• United States
7 Jun 08
For the same reason that people buy big gas-guzzling cars, or pay $1400 for a dress that looks like it was ripped out of a bed sheet and stapled together. They have some absurd need to be noticed.
1 person likes this
• United States
7 Jun 08
Yes, some celebrities have "lookatme syndrome" really bad.
• China
8 Jun 08
```It is a common phenomena.I am not a rich people so I don't know exactly the feeling of being rich.I guess if I had so much money and fame I would do the same thing.I just think that what you do depends on who you are.Maybe they don't want to buy so big a house,but they don't want to be different from other celebrities,either.
1 person likes this
@ben3ai (5)
• China
7 Jun 08
er...I believe that they just want to tell us "oh,look,i'm rich".Where I live ,so many pepole like doing something we cant understand that we think their life must be crezy.
1 person likes this
• Indonesia
7 Jun 08
Just because they can. I mean, they have millions and millions and trillions of money to spend, why wouldn't they just spend them on super huge houses and all. Of course that sounds selfish, with so many people living on the street and to see those rich people living in a 100 room house and they only use them about 5 hours a day to sleep.
1 person likes this
@guybrush (4660)
• Australia
7 Jun 08
Personally, I think it's an insecurity thing. Maybe these people can only be confident and have high self esteem if they feel they are impressing the world. Secure, confident people don't care what others think. You can only sleep in one bed and eat at one table ...
1 person likes this
• United States
7 Jun 08
Vanity is the most expensive thing I know of.
1 person likes this