October 26, 2022

Cheap Mansions for Sale

Affordable mansions: is that phrase a logical misunderstanding? Always known as a luxury type of household mansion are becoming less extortionate. In this article we will look into some recent tendencies in the luxury segment of the estate market and find out where are the most attractive offers on the mansions that due to various reasons became quite affordable. 

What makes a house a mansion?

What do we call one big beautiful house a Single House and the other, just a little bigger in size appears to be a Mansion? There are actually several distinguishing features that can identify a house as a mansion.

  • location and neighborhood
  • famous owners and the history of the place
  • size
  • number of rooms plus rooms for singular purposes (a theaters, a gym, a spa ect.)
  • building materials
  • condition of the household

All this either adds up or cuts off from the price of a mansion. Let’s see what effect each factor gives to balance the price and the quality ratio of the luxurious property.

Can a real good mansion be real cheap?

Yes, you can find good mansions for sale. And the price can be cheap. Cheap for a mansion. 

Let’s be realistic, you won’t buy a beautiful Victorian style two story mansion for the price of a caravan. Too bad though. But there are some tendencies that you need to be aware of to be able to find a mansion of your dreams at a very reasonable price and even better than you’d expected. And one of the most important of them is location: a mansion in Utah is going to look, be and cost far different from a mansion in Miami Beach. And the reason for that is not only the renowned name of the coastal  location but also major differences between the property markets of the two states. What is called a mansion in Alabama has got a great deal of square footage and many rooms. A mansion in Florida is mostly a level of comfort which presupposes a smart home system, an indoor spa and gym or a stable. Another very important thing connected to the location of the mansion is its neighborhood. A mansion located within a reasonably short distance from a busy city and surrounded by famous celebrity neighbors will apriori represent a much higher price than an equally big and comfortable but detached mansion. 

Every Mansion has its history

Each and every mansion once built on land has its own unique history. There is one common feature though that unites most if not all the mansions in the country: they were built for people who once were industrial titans on the land they lived and worked. Some of the descendants of those titans still own their family households, the others have changed their lifestyle completely and set those silent representatives of their families’ former might for sale. In quite so many cases the price for those mansions is very reasonable due to various reasons: people are either changing residence, in need of money or don’t want to keep the memories of their powerful ancestors. Anyways, such cases are not rare. All you need to do is undertake a little research on local history. 

For example, a beautiful mansion in Dyton, Ohio was bought at an almost ridiculous price of $629,000 and pretty much the only reason for that was its history. The mansion was built in times when Dyton was blooming and thriving, being a center of various industries in Ohio. Those times are long gone but the beautiful single houses are still there representing the former prosperity and available for sale.

Is it more reasonable to build your mansion?

Depending on the state you are buying your mansion the construction services and the price of the materials vary greatly. Unfortunately, the state of Florida is not in the list of the most affordable construction sites of the country, but even here you can find reasonably priced materials and builders. Building a mansion from scratch is not an affordable idea at all but it can save you some cash if you bother yourself hard enough to discuss all the constructing ideas and life hacks with your foreman. But, even if you are willing to buy a ready mansion, it is good to know what materials were used for its construction. That might help you to cut off some of the price. 

What is the smallest a mansion can be?

We have to admit: size matters. A single home can be considered a mansion if its footage is no less than 5000 square feet. Logically, the bigger further, the more expensive the mansion is. But, on the other hand, the house can be just a tiny deal less than 5000 square meters and still bear the proud status of a mansion. In that case the price of such undersizer can be negotiated. You have a fair chance to buy a beautiful mansion at a reasonable price if its size is just a little under average. A good example here is a stately blue 4,780 square feet mansion in the state of Pennsylvania which was bought at an unbelievably low price of $170,000. One of the reasons for such a bargain was the size of the mansion which, as you can see, is just a little below standard.  

Cheap mansions are not always in good conditions

True. And that can be a very good reason to negotiate the price.   Some people intentionally choose to buy a house in a poor condition at a low price to be able to redesign it to their taste. Mansions can quite often be found in such condition and even worse (or better in our case): there are abandoned mansions in the country that can be bought at some ridiculously low price. If that caught your interest, you can learn more about such types of property here. Also, get your real estate agent to have the home inspector involved. It is a matter of high importance to evaluate the real condition of the mansion before negotiating the price. You need to know the real situation to be able to evaluate the costs you yet have to pay. That’ll help you to understand if the investment in such property is going to pay off. It takes a lot of time and effort but as a final result you will get a mansion that will represent your family many generations ahead. 

While it is still true that you have higher chances to buy an affordable mansion in Pennsylvania or Ohio, Florida has a lot to offer. Keep looking for the mansion of your dreams and let our real estate experts help to make your dream come true.