The $100 Million House: What It Really Costs -- Yahoo News/Investopedia.com
Have you ever wondered what it would be like to live in a $100 million house? Just ask billionaire business investor Yuri Milner. His purchase of the 25,000 square foot Silicon Valley home breaks the record for highest priced sale of a single-family home in America.
Milner made his fortune by investing in some of the biggest names in the online world, including Facebook, Groupon and Zynga. He is also the head of Digital Sky Technologies. Milner is certainly enjoying the billionaire lifestyle. His home sits on 11 acres of land and has a ballroom, home theater, gym, spa, formal dining room, two swimming pools, a tennis court and a wine cellar. For all of you aspiring millionaires (and billionaires) out there who dream of living large, let's look at what kind of financial resources it takes to own a home like Milner's.
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My Comment: The bottom line .... considering the estimated annual costs of owning a home like this, you could be looking at paying about $7 million per year just for mortgage payments, taxes, insurance and upkeep.
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