Big house versus small house!

@vandana7 (76858)
India
March 23, 2010 5:37am CST
I just saw Warren Buffet's house. Just 5 bedrooms! And he bought it ages ago. Some of the nouveau billionaires in our country have homes that'd put Buckingham palace to shame. (No offense meant). Coming back to point - large homes dont make financial sense to me! You need to keep it clean and tidy, termite free, dust free, pay maids for cleaning it up regularly, and pay more taxes. Supervising all this is a whole time job for which nobody is getting paid! Apart from this of course, unwanted guests do not feel guilty for overstaying. That would mean my privacy is up for grabs! All this adds up to a decent sum and indecent discomfort. I would be spending much less for regularly entertaining my guests at a good hotel! I could take them to different hotels each time, and wouldnt spend a cent on renovating as decors would be the responsibility of the hotels. What is your call on this?
4 people like this
20 responses
@maximax8 (31190)
• United Kingdom
23 Mar 10
A person can only be in one room at a time. A very rich person is likely to have a house much larger than his or her needs. He or she might employ a maid, a cook and a gardener. The bills would be a lot if a house is extremely large. Some middle class people had large houses and a high mortgage. They had been earning £90,000 a year but were made redundant in the recession. One of them looked for another job but wouldn't take up a job paying £20,000 a year. It is better to have a small house and to have to save money to decorate it. Then the owner can clean it, decorate the inside and look after the garden. I think a bedroom for each child in the family is lovely. So I would like a four bedroom bungalow considering I have a disabled son. Money doesn't make a person happy. I see property programs where the house hunters are very fussy. Even the most special and wonderful house isn't good enough for them.
1 person likes this
@hvedra (1623)
23 Mar 10
I love some of the property programmes, they make me laugh. "We want a house in the country that isn't overlooked but very near to the shops and the school". Then they want it decorated all contemporary and are constantly wanting to knock walls down and change things that there is nothing wrong with. As we say around here "You want the moon on a stick!"
@vandana7 (76858)
• India
23 Mar 10
Hi maximax, exactly my sentiments. Not possible to manage large homes! Just enough is enough. :) Having money blocked in the house that you are living in doesnt make sense at all! Unless you are willing to compromise on privacy and let out a part of it!
@Naxous (974)
• India
23 Mar 10
I completely agree with you at the same time I like to add a few more points. A house is a fixed asset which cannot be converted to cash easily once invested it remains invested so why invest a large sum of money when all that you need is a 3x3 feet to take rest.Mr. Buffet is one of the best investment planner the world has ever seen and so may be he has decided to not invest much in his house but at another venture which will give him good return a house won't give him that unless he decides to rent it out to somebody.One can show off his status and position even by having a house which is not like a palace but which has enough room to accommodate him and his family.Even I like to have houses that will just be enough to house my family and not palatial buildings.
1 person likes this
@vandana7 (76858)
• India
23 Mar 10
Yes Naxous, somebody once said common sense is not so common. :) In the days they had palaces, there were no five star hotels for royal guests! Now, it is silly!
1 person likes this
@Baluyadav (3643)
• India
23 Mar 10
hi vandana,Your policy is the best to follow any body.40 storied building for Mukesh Ambani...Mittals house in U.K.,....its all becoming exposing their financial statuses...nothing more than that.Really 3-5 rooms in a house with small garden is enough to spend comfortbly and maintainence also easy.But people are giving priority to expose their status.... Have a nice time.
1 person likes this
@vandana7 (76858)
• India
23 Mar 10
Wow, you realized what I was getting at. Some people are not that smart after all - even if they are in Forbes list.
1 person likes this
• India
23 Mar 10
I am of the opinion that going for a big house is not just a matter of pride but the importance should be given to the locality and neighbourhood and the requirement for us as The More bigger shoe the more polish is required
1 person likes this
@vandana7 (76858)
• India
23 Mar 10
Your last phrase caught my attention. :) More bigger shoe the more polish is required - indeed. :) Locality of rich means keeping up with joneses as well. More expenditure! :( Lot of stress to bargain for!
1 person likes this
@saphrina (31733)
• South Africa
23 Mar 10
I think it is stupid. Who wants to live in an big use and stand a good chance of getting lost in it?? I don't even one for free. TATA.
@vandana7 (76858)
• India
23 Mar 10
Anybody who would be able to afford to buy it in terms of adverstity would get a very good bargain. After all, not many would be able to afford it. :) We have a guy who built a house with 60 bedrooms! :) Now imagine, who would want that. And a person who has that kind of money wouldnt he prefer a vacant land where he could get a house of his own specifications? :) Some people dont move with times. Palaces were required because there were no good hotels in those days. Nowadays, it is a silly. I agree it is stupid.
@saphrina (31733)
• South Africa
23 Mar 10
Now that is something i have to remember. 60 Bedrooms. Is he feeling allright?
@vandana7 (76858)
• India
23 Mar 10
No - that is why he is Forbes list.
@dawnald (84206)
• Shingle Springs, California
23 Mar 10
why do you think Warren Buffet's so rich? He isn't spending to keep up with the Vanderbilts! :-)
@vandana7 (76858)
• India
23 Mar 10
I like people with common sense.
1 person likes this
@dawnald (84206)
• Shingle Springs, California
23 Mar 10
Me too. Too bad there are so few of them!
@vandana7 (76858)
• India
24 Mar 10
Well, at times, I have that complaint about myself as well.
@yugasini (12838)
• Anantapur, India
23 Mar 10
hi vandana madam, I know about Warren Buffets's in shares,he have earned a lot in shares,he is famous in shares and he is father of the shares,one should enter shares,he must know about warren buffet,regarding the hotel with relatives,where is the time and money with me to enjoy all the things with relatives,but mostly there are very very less guests relatives comming to my family,have a nice day
@vandana7 (76858)
• India
24 Mar 10
That should actually please you yugasini! Honestly, it is one thing to have friends as guests, and another to have relatives as guests. Hope your day and life is filled with happy moments.
@yugasini (12838)
• Anantapur, India
24 Mar 10
hi vandana madam thanks for the comment,have a nice day
@bhanusb (5709)
• India
23 Mar 10
Money has hot reaction. When someone gets more than enough money. He or she can't check himself or herself. By any means that person will try to show that he or she has enough money. Your story of 5 bedrooms is like that. This can be called as craziness of a moneyed person.
@vandana7 (76858)
• India
23 Mar 10
Hi bhanusb - 5 bedroom house Warren Buffet is anyday better than 60 bedroom house of Mukesh Ambani. :)
@bhanusb (5709)
• India
24 Mar 10
This is the game of over money."Rupiya ka khail".
@catdla1 (6005)
• United States
23 Mar 10
I've never owned a mansion, but I did own a 12 room house a few years ago. And hated it. I felt with all of the time spent cleaning and maintaining that I was attached to the property with a ball and chain. Even if I was wealthy, I don't think I'd like maids, I just value my privacy too much. Now I have a much smaller home, and much happier with it. As I get older, I prefer smaller and simpler, so that I have time to do the things I really enjoy...like myLotting.
@vandana7 (76858)
• India
23 Mar 10
Hi catdla, nice to know that you are much happier. Yes, I too think large properties mean maintenance issues. We just cant leave on staff members. We also have to inspect and supervise! Which is all waste of time as the rooms are vacant most of the time! Here one gentleman has built a house with 60 bedrooms. :) Now that is what is making me wonder about his sanity.
1 person likes this
@catdla1 (6005)
• United States
23 Mar 10
Unless one is starting up a hotel, or a boarding school...what is the point? I sure wouldn't want it. I can only sleep in one bed at night, I wouldn't need 59 others. To each their own, I guess.
@Roseo8 (2947)
• India
24 Mar 10
Hi Vandana......Exactly my views too....I am a practical person and I feel maintaining a large house is no longer a sign of luxury but is rather a life of drudgery because of the enormous amount of time and money that has to be spent in cleaning and maintaining it.....And with the difficult in getting reliable domestic help,the task becomes even more cumbersome...And yes.....a big house is an open invitation for unwanted relatives to burden themselves on the mistress of the house,and that too indefinitely.....he..he....No wonder,the new flat owners are promoting one bed room flats ,which is cost effective and compact.....he...he....
@vandana7 (76858)
• India
24 Mar 10
And water wastage as well! I was mentioning to somebody the resale value of the property does not fetch as much! Only those who can afford to buy such properties could come forward, limiting the number of possible customers. If they can afford that kind of money, they would definitely have their own tastes! Therefore, they'd bargain it down heavily, and the person selling the big house would have no option but to agree or continue to be saddled with the white elephant.Moreover, with so many maids, the house would feel something like an office where I was working 23/7! :( No way!
• Philippines
24 Mar 10
i like small house more,... so that i can see my beloved every moment!
@vandana7 (76858)
• India
24 Mar 10
That makes a lot of sense!
• United States
23 Mar 10
the only reason to have a large house is if you're going to use it. if you have fifty bedrooms and never use more than one, then what is the point? now, if you're going to always be having guests over or you somehow want to take care of orphans or something awesome like that then you have a different story. you can only use so much stuff on your own and i'd hate to live in such stupid luxury when i know about all the poverty in the world, it would be great to make a real difference with such cash overflow.
@vandana7 (76858)
• India
24 Mar 10
Oh no - it is not to accommodate those teeny weeny orphans, even for a day. Nor is it for guests. It is to compete with others in the same level of wealth. Some people have it all wrong!
@1anurag1 (3578)
• India
23 Mar 10
i think there is a single room is enough for a person to live well. and as you are talking about warren buffet. there is no words needed for him to define. i think to maintain a big house is not easy. and when you have a small and enough size house then you will be in your home really. i mean there is no mean if you have a big house where you cant be near your family members. so when you are in a room with your family it becomes home. else i think the earth is my house.
@vandana7 (76858)
• India
24 Mar 10
I am beginning to feel at home! :) Not many saying large homes are worth it. Only 1 in 21 - not bad score. :)
• India
23 Mar 10
House is shelter for humenbeings, if a house is sufficient for us then we should not worry about its size. every must be happy, cheerful and helpful toeach other then it makes house more beautiful
@vandana7 (76858)
• India
24 Mar 10
I wonder how it can be cheerful with so many staff members running about! I'd feel as if I am running an office 24/7!
@umadper (947)
• India
23 Mar 10
hi,vandana,some how i like small house,may be because of sentiment that elders says, if we stay in small/tight to arrange household goods,money[Lakshmi devi] will prevail with us..i don't know how far it is true... Second most is cleaning our house is easy and we can make it neatly within seconds... happy mylotting.
@vandana7 (76858)
• India
23 Mar 10
While I cant really explain the actual reason in it, I do feel small homes are better. This is because you need less servants, less curtains, bedsheets, other linen, less bathroom cleaning and floor cleaning liquids, less water, less electricity, less carpets. :) You pay less taxes as well. :) Projected forward all these expenses can be more than what we need for our regular living. It doesnt make sense to cut down on personal pleasures because we have to maintain any part of the house. And a house is just a house. 20 years down the lane, it would look old when compared to other new homes in the surrounding. So why spend a fortune on it! Its not a Taj Mahal!
@Kate1950 (35)
• United States
23 Mar 10
I used to think that I had to have a really big house to be happy! My thinking changed when I got that house and realized all the work that came with maintaining it. We have since downsized, and between the time I save on cleaning, and the money saved on utilities, the larger home just isn't worth it! If I have guests come to visit, they can easily stay at a hotel/motel in the area, and we can both have our privacy.
@vandana7 (76858)
• India
23 Mar 10
That is a practical experience. :) You know something, you did a very wise thing. If you draw up your monthly budget and project it forward for approximate remaining number of years of your life, at the rate of inflation, you would realize that sooner or later it would become tough to maintain the present lifestyle! Those costs are really big chunk. :( Anyway, now we just have to wait and watch how things go for them. :)
@hvedra (1623)
23 Mar 10
It isn't just the billion or millionaires who buy outsized homes. Right now we have people with only one or two kids buying six bedroomed homes or bigger! Why? I've always said that if I won the lottery I wouldn't want a big house, just a BIG ENOUGH house with lots of land around it.
@vandana7 (76858)
• India
23 Mar 10
Marketing my dear! And to think kids wouldnt want to live in that house! After all, it would look outdated by the time they grew up! :) Lots of land makes perfect sense. Jog in privacy, have some swings for kids, lots of fruits and flowers, not to mention vegetables and of course the lawn and swimming pool. Look out from window see a beautiful image from any part of your house. Mind will be filled with beautiful thoughts and peace. :)
1 person likes this
@udayrao2 (782)
• India
23 Mar 10
Do not be worried unnecessarily about the cleaning etc of big houses of the nouveaux rich!!! After all ( at least in India)I do not think they have use their own money to indulge- it is all at the cost of the shareholders ( including the chores you mentioned)and the companies they head, and the so called charities they flaunt is again the share-holders; were they really so big- hearted you would have seen them spend money at least on charities very anonymously( which they don't)without using their name and this publicity is good for their PR - so the more they and their lifestyles are in public the better for them!!What privacy then though they may say so in public. I am saying this because I happened to know much earlier & personally some of these people in Mumbai( who are now of that class you mention) and now that they have reached in life they do not even show in public they know me or our common friends, although in private they still talk!! What hypocrisy!! I know this was not part of your discussion but such double standards boils my blood!!!
@vandana7 (76858)
• India
23 Mar 10
Hi Udayrao, even in India it doesnt make sense! You see, if the company is doing well, he can pilfer some monies. But if the company does not do well, then his personal costs increase several times over! To cut them, he would want to sell the complex. Now - not many would be able to afford even half that cost! So he would be forced to bring down the price considerably! So there is no capital gains either! Now think it like this, today the company is doing well, he got the best interior decorator to do the job. But trends change. Tommorow we might have a new gadget and he would have to install that in each of those sixty rooms - redo a lot of work! Perpetual problem. If he doesnt people would be talking behind his back that there is a problem with his finances. If such talks come up, banks wont lend monies for his business. These things happen. One wrong move and picture changes. I think this was a wrong move on part of Ambani. We cant be blaming Vasthu alone.
@phoenix8606 (4977)
23 Mar 10
hell0! well, i have always dreamed about a big house with 3-4 floors, a big yard and a garden with a summer-house, but as some of the users said, it is really harder to have a bigger house because it requires more cares, but I really think that people who can afford to buy a big house, i mean a really big one, like the one you have mentions( with 5 bedrooms) then I think that they can also afford a man/woman to be responsible for the cleaning and the maintenance of the house, and if someday i hae money enough to afford it, i would buy a big house for me and my family
@vandana7 (76858)
• India
23 Mar 10
Hi phoenix, I agree Warren Buffet, and Ambanis can afford people to maintain them - at present. The point is - it is like doing something that doesnt need to be done! Cost benefit analysis doesnt justify it. You dream of a big house, may god give it to you. You will realize what sort of problems there can be with one. :) Obviously you would use the best of materials. But after sometime that too gets monotonous and outdated. So again you would spend to get the latest decor and so on. Otherwise, other rich people in your group would think - is there some problem with these people's finances? These are additional costs that are difficult to plan for. To maintain it is so expensive that families become paupers after a couple of generations.
• India
23 Mar 10
Hello Vandana, after retirement i built two homes on my paternal land, i dismantled the old ones and rebuilt, both are double storey buildings, i spent all my savings, my pf money etc, we are staying on the ground floor of the bigger one, it has rooms for me and my wife, for my sons and two guest rooms, rest i mean the upstairs of this house, and both stairs of the other are given on rent When guests other than relatives or close friends come, i entertain them in a hotel usually. Happy posting, cheers Bhuwan
@vandana7 (76858)
• India
23 Mar 10
Hi professor, that makes sense! Giving on rent when it is not being used. But I doubt if Mukesh Ambani will consider giving any of the rooms in his house on rent. :) Or for that matter Mittals or others. We are ordinary people. :) They are millionaires, and billionaires. It is their logics that I was questioning. :)