The word “mansion” conjures images of a grand home from an era when only the rich could live well. Some of the most famous U.S. mansions include the so-called Gilded Age mansions, built by some of the country’s wealthiest families in the late 1800s. Mansion derives from the Latin word mansio, meaning “dwelling, abode, habitation or home.” In modern England and many parts of Asia, mansion refers to a multi-unit apartment complex or condominium. But most people in the U.S. define it as a large, impressive home. Of course, we also have a related term — McMansion — that refers to those large, often similar looking estates sometimes scattered among affluent suburban neighborhoods. While they boast an impressive number of square feet, they don’t offer the amenities of a true luxury mansion.
What makes a house a mansion?
Although some characteristics are debatable when defining a mansion, size definitely comes into play. In cities with smaller lots, a home with 5,000 square feet might make the cut, while elsewhere the minimum size for a mansion may be 8,000 square feet or more. Some California buyers say a house isn’t a mansion unless it’s at least 20,000 square feet.Gilded Age mansions certainly went big. The Leland Stanford Mansion in Sacramento, built in 1856, grew to over 19,000 square feet; it now serves as the reception center for California state officials. On the opposite coast, The Breakers in Newport, R.I., is a 125,000- square-foot mansion built in 1895 as a 70-room summer home for Cornelius Vanderbilt II.The largest house in the U.S. is Biltmore in Asheville, N.C., coming in at just under 179,000 square feet. Completed the same year at The Breakers, Biltmore was built for George Washington Vanderbilt II and is still owned by his descendants.
Does a mansion need 10-plus bedrooms? More than one kitchen? What about swimming pools or fountains? A mansion’s features might change with the times, but it’s sure to have something that will take your breath away.Mansions built in the first half of the 20th century have plenty of ballrooms, billiard rooms, lounges and salons. A “great room” or hunting lodge might be a showcase feature for some, or a game room with a specialty bar — or maybe even a hidden room or wing! When it comes to modern mansions, size isn’t the only thing that matters. Today’s mansions have everything you need to live and entertain in luxury, are built with the finest materials and include cutting-edge technology.Leisure space is important for any mansion, and it isn’t limited to inside the house. Mansions of the past featured large greenhouses, conservatories or libraries. Today, many have upgraded those features to in-home saunas, home theaters, gyms and media rooms.And don’t forget security. A safe room, or “panic room,” is sometimes a key feature, along with high-tech security and an in-house communication system.The grounds and gardens of modern mansions are extensive and elaborate, often featuring sculptures, sports facilities, multiple garages, hiking trails and, of course, guesthouses. There are even personal baseball fields and shooting ranges.
What are your options?
Most of us will never own a mansion. Building a custom or luxury home starts at $200-$500 per square foot, with 60% of the costs going to materials, permits and design, and labor taking up 40% of the total. But you can stretch your dollars when it comes to buying a luxurious vacation home. Pacaso’s co-ownership model is the modern way to afford a million-dollar second home. Pacaso increases your buying power and gives you the chance to own more house for less money. Plus we handle the maintenance and manage the home so it’s ready whenever you are. Check out our listings today and get ready to live the good life.
How soon after refinancing can I buy another home?