How do people afford those McMansions?

**frugalandsimple** · 03-31-2008, 10:24 AM

I wouldn't want to work over 40 hours a week just to live in a huge house. The bigger the house, the more to clean.

**mmy2grls** · 03-31-2008, 10:26 AM

I've always wanted a huge house. The only way i'd be able to afford that is to win the lottery lol

**sunshine** · 03-31-2008, 10:29 AM

A friend of mine does wood working -- and he works on a lot of the McMansions in our area. He says that many of them don't have furniture -- they rent stuff for parties ,but otherwise they are pretty much empty.

Others are massively in debt, past what they can afford - hence the housing fiasco lately.

And some have good incomes, budget wisely and decide to spend their money on large homes -- that's fine by me, but not my choice.

**halloweenfreak** · 03-31-2008, 10:31 AM

i thought so too, but im tired of being cramped. my kitchen is so small, only 1 person can be in it at a time. our living room holds a chair and a couch. we love to entertain, but have to do it outside because we dont have ANY room. thats why our next house is going to be HUGE.

**sunshine** · 03-31-2008, 10:34 AM

Currently we have an average sized house for our area -- 1200 sq ft. 3 small bedrooms, and a huge living room and kitchen (no dining room, we eat in the kitchen - it's an old farm house) So it works for us. . . I can entertain in the kitchen or living room -- and we only sleep in the bedrooms.

**forHISglory** · 03-31-2008, 10:39 AM

Our house is fairly large: 2500 sq. feet, but I see so many of the McMansions going up that make us puny in comparison. How do they afford them? Some legitimately afford them and that's fine. Others can't afford them, but feel they have to put on a show. As a previous poster mentioned, there are homes around here that don't have furniture, but by golly, they have the house! I like big houses, but what I have is big enough. I don't want to be a slave to the house and cleaning all the time.

**MirandaK** · 03-31-2008, 10:51 AM

Our house right now is 3500 sf, and it's on the market. It's waaaaaaaaaay to big, IMO. CBG bought it with his ex-wife and I don't know what they were thinking. Once it sells, we're going to build something reasonable.

**FreesiaE** · 03-31-2008, 11:01 AM

I've been in one before and the living room had stadium popup chairs as furniture. Not kidding. Most rooms were empty.
Now this next part is my opinion only, but I think they are very wasteful. Why does someone need 10000 square feet for a family of 4? They don't. Think of all the trees cut down for hardwood, the energy bills, etc. We aren't huge entertainers but if we were, we might have a spot with a bit more land and get a big tent. We'd entertain a ton for big groups in the nicer weather. In the cold weather, people would simply have to not come over at one time.

**luv-my-lexi** · 03-31-2008, 11:03 AM

IMO the people with the McMansions are trying to "keep up with the Joneses" and fall deeper and deeper into debt just "putting on the show"

. I would LOVE to have a larger home but there is no way I would want to be a work "slave" to have it. We are just fine with what we have.

**PAVallygrl** · 03-31-2008, 11:07 AM

Up by me there were quite a few sold via creative financing. they are currently being or have been foreclosed on by now. I agree, why want something so grotesqly ugly and cookie cutter looking and also impossible to heat within a budget? No offense to anyone who may have one of course. JMHO

**mmy2grls** · 03-31-2008, 11:17 AM

I like the thought of spaciousness, the thought of everything in it's own place with lots of room, even a huge playroom sounds wonderful to me.

I barely can afford my bills here, can't imagine bills in a large house

**mombottoo** · 03-31-2008, 11:25 AM

Some people can actually afford McMansions...others are in debt up to their eyebrows!!! I guess it's all a matter of personal choice and what you are willing to do or put up with to live like that.

**Dixie** · 03-31-2008, 11:30 AM

I prefer a large house, but that's just me. If we could comfortably afford one, we would have a large house, but not necessarily a 'McMansion'. Imho, most of them are ugly, at least around here, anyway.

**shoiji** · 03-31-2008, 11:31 AM

Personally, I really do enjoy looking at the McMansions. Many seem to be time capsules. But since I can't even afford a two bedroom apartment, I am more than happy to just look. : ) Also the cleaning, upkeep, and expense just seems very overwhelming to me. Now, if I won the lottery and was able to make the McMansion completely self sustainable, would not complain and would be very happy in one.

**stinkbug** · 03-31-2008, 11:41 AM

Well, I guess I'll bite. Buy definition, I guess we own a McMansion...though we've never thought of it that way. It is 3300 sq ft on 1/2 acre. In a very small loop of homes...not a mega subdivsion.
We bought 6 years ago. Dh needed a shop and we both wanted at least 1/2 acre. Every house with a shop was a dump or not an area we wanted to live in....or not enough property to put one. The area we lived in was older and slowly going down hill...we could see it turning...people not taking care of their homes, weird neighbors moving in, etc. We have a 4 car garage here, which worked out better. We each have hobby space. Our power bills here are LESS than they were at our other house because it is built so much better, better systems, etc. We basically live on one level (master on the main) and have extra rooms for my sewing/craft room and guest rooms. Actually, we've had several people stay with us for months that needed housing and were in transition. It's great to have that to offer. And we entertain a lot. Our house is fully furnished...slowly, all paid in cash. We have NO other debt. We have about 50% equity and it will be paid off in less than 15 years. Dh has a secure job, that he rarely works over 40 hrs. He is home every night by 5:30. I am not working now...
This has nothing to do with showing off, or keeping up with the Jones's. I don't even know the Jones's! I don't care what others have or don't have....we just mind our own, pay our bills, put our money away and try to make good decisions. I have no regrets or apologies for buying what we did.
I think it is all relative to your situation. Dh worked his way through school with no school debt. For his profession it usually amounts to 60-100K. We don't do credit, we both are thrifty and agree on spending. We love spending time at home, don't eat out, etc. We bought this home to LIVE in. We have good neighbors that we know and can count on.