Upgrading to a McMansion!

Well, my friend that won a house has upgraded from their free townhouse to a McMansion!  Actually the house is even on the large side for a McMansion since it’s over 4,000 square feet!

Now both my friend and her husband can’t really afford such a house if it were just their salaries that they had to rely on (I believe it was listed around $350,000 after coming down from the $400,000s) .

So how do they afford it?

They are renting out their townhouse (that they won) for about $1,000 a month!  All of this money goes towards the mortgage payment of the new house!  From my calculations, they should be able to afford the house with that extra $1,000 going towards their mortgage.

But even better, they only had to take out a $280,000 mortgage since they had enough saved up for a $70,000 dollar down-payment!   They had this much because they were able to save their money for the past 5 or so years that they lived in the townhouse!

Not that they need it, but with record low mortgage rates, if they make the normal payment and don’t pay anything extra, they should be able to have the same fun lifestyle that they had before the upgrade!  Remember, both of them are in their mid-20s still!

Now for a Few of the McMansion Highlights!

The house has a huge home theater in the basement!  The previous owners bought some type of projection unit mounted on the ceiling and it projects to the entire screen wall!  The picture is huge, and its high definition!  It was quite literally the largest viewing experience I’ve ever seen outside of a movie theater!

The 3 car garage had a heater and the floor was covered with some special rubberized surface!  The office in the house was larger than my master bedroom.  Wood trim was everywhere, it was a huge house!

I was amazed, do you know anyone who owns a McMansion?

-MR

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