Is a 24,000 sq ft Home Worth It?

MoneyWise

If you have the money to put anything you could possibly want in your home, should you do it?

This episode’s guest, “Hank” did, and as a result, his home ended up being 24,000 square feet.

But with 24,000 square feet, there is a lot to go wrong. So are the upkeep, repairs, and bills worth the square footage? Can a home with all the fancy features you can imagine actually bring more joy to your life?

Building (or buying) a house this size is no small feat, and there are numerous things to consider before pulling the trigger, such as your stage in life, your family situation, and how much you enjoy your free time.

In this episode we explore the mega house. We’ll learn about who this type of home is for, the pros, the cons, and all the caveats to be aware of. And this is Moneywise, so we’ll get into all the nitty gritty numbers to learn how “Hank” can afford a home this massive and all of the expenses associated with it. He’ll also share if he ever plans on moving.

We even speak with Ryan Thewes, an architect who designs private residences in the Nashville area. He shares the most commonly requested features, the type of clients he typically gets, and the coolest things he’s ever designed. And we have him answer the question: Would you ever move into one of these mega mansions yourself?

By the end of the episode, if you are convinced that a mega mansion is right for you, we’ll leave you with some advice on how you should go about making your dream home a reality.

This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits.

Who is Sam Parr?

Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022.

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

How Hank made his money (3:05)

How Hank ended up in a mega mansion (5:02)

Building costs (7:47)

Hank’s house’s coolest features (14:08)

The coolest features Ryan has designed (17:14)

Who this kind of house is best for (18:26)

Advice for prospective mega mansion owners (28:47)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

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