Owning a Masion Isn't Cheap Anymore!

If you think your bills and expenses are getting you down spare a thought for the filthy rich who live in huge masions. With all of the staff they employee to run their lives and homes for them it must be a very stressful exercise and can total up to $800,000 or more a year. So if you want to own a masion you might need more savings than you thought for all of the extras that typically come with owning a masion.

The price of privilege
"Rising mortgage rates got you down? Concerned about renovation overruns? Tired of tipping the kid who mows the lawn? Please. Try living in a mega-mansion.

These days, it's not unheard of for well-heeled buyers to purchase homes totaling several thousand square feet, with half a dozen bedrooms, twice that many marble bathrooms, acres of kitchen counter, indoor swimming pools, and manicured grounds as far as the eye can see. They may spend upward of $10 million, $20 million or even $30 million for such properties — and that's just for starters.

These homeowners face thousands of dollars in heating and air-conditioning costs, landscaping fees that come to more than $1,000 a month and, in many cases, six-figure property taxes. They need housekeepers to make all the beds, scour the sinks and fold the laundry; nannies to look after the kids; and landscapers to prune trees, plant perennials and groom private golf greens. Tack on the salaries for personal chefs, drivers, and managers who keep the home — and the lives if its inhabitants— running smoothly, and you've got a more realistic idea of what it costs to run a multi-million-dollar home." MSNBC

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