Trophy Homes Attract Single, Childless Buyers

On the face of it, it sounds absurd.

Here you are child-free and moving deep into midlife when you lay plans to buy a “super home”: one with 4,000 square feet or more.

Who wants to purchase a palatial abode these days? Virtually anyone who has yet to experience the thrill of owning one, said Arthur Mangassarian, a broker-associate for Re/Max Tri-City Realty in Glendale.

“People want a house that’s better than their friends’ house. It’s a prestige thing,” said Mangassarian, who has logged two decades in real estate and contends that Southern California buyers want more space every year.

Of course, there are single people and empty nesters with logical reasons for purchasing a property far larger than they can use themselves on a daily basis.

Those with a large extended family or many grandchildren may frequently host house guests. And other childless buyers with executive jobs--or just a gregarious instinct--often use a house for entertaining.

But for many buyers of mammoth homes, the only true motivation is more emotional. They want the status of living in an impressive habitat. Or they have the means to treat themselves to the luxury of a spacious home as a reward for their hard work.

“I think it’s an American thing to buy as much house and land as you can,” said Katie Muck, sales manager for a Coldwell Banker office in Palos Verdes. “It’s like buying a sport utility vehicle. Few people really need it, but it’s a feeling of freedom.”

One example of a homeowner who feels happiest in a big place is David Knox, a 47-year-old professional speaker. Knox, who has never married and lives alone, travels 150 days a year giving seminars on real estate sales.

Yet he owns a 4,000-square-foot house with soaring ceilings, a huge gourmet kitchen, a library, a sun room, four bedrooms, four baths and a four-car garage.

So large is Knox’s contemporary home that he hasn’t had occasion to visit his fourth bedroom (tucked away on the fourth level) for two years.

“Each time my cleaning lady comes over, she goes up there to make sure everything is OK,” he said.

Is it rational for Knox to own such a grandiose place? Knox thinks so. Since he stays in cramped hotel rooms so often, Knox relishes an oversized home.

He enjoys reading a morning newspaper in his sun room. He enjoys puttering in his garage, which houses his yellow Corvette and green Jeep as well as three motorcycles.

And, since he’s constantly in and out of stress-filled airports, he appreciates the serenity of a home set next to a golf course (although he does not play golf). “I like the privacy,” he said.

Here are some pointers for those who seek an oversized home:

* Make sure you can afford all the costs of a big house.

Knox said he has noticed that many oversized homes in his community are held by their owners for just a few years before they go up for sale. Why? Because as many as 30% of the owners find their monthly payments too burdensome, he said.

“Just because a lender says you can afford one of these big homes doesn’t mean you’ll have that much discretionary money left over.

“Besides your mortgage payment, you have to remember the cost of taxes and maintenance, which can be high,” said Knox, who spends about $500 a month for lawn services and cleaning.

Muck also urges would-be buyers of oversized homes to consider the cost of furnishings, which can run 5% to 10% of the total purchase price of the property.

“It isn’t any fun to get into a big house and not be able to furnish it,” Muck said. For example, she recalls seeing a double bed dwarfed by a sprawling master suite and a standard sofa that looked like doll furniture in a gigantic living room.

“If you have little tiny furniture in a huge place, it can look really stupid,” she said.

* Select a home that’s not only large but also warm and pleasing.

“You don’t want something that looks like a big warehouse,” Muck said.

Certain building materials seem cozier than others in an oversized home, she said. For instance, hardwood floors seem more inviting than marble floors. And ceramic tile in the kitchen seems homier than granite.

Also, some traditional architectural touches make a big house seem more inviting, in Muck’s opinion. For instance, she likes bay windows (especially with interior window seats), dormer windows, sculptured ceilings and crown moldings.

* Think of your later years if you’re planning to stay indefinitely.

Are you buying an oversized home with the thought of staying there late into your retirement years? You may want to plan for the possibility that either you or your spouse may have physical limitations during your tenure.

It’s ideal, but not necessary, to limit yourself to a single-story home. But you should buy a place where one could be comfortable living solely on the first floor, should it prove difficult to climb the stairs, said William Young, director of consumer affairs for the National Assn. of Home Builders.

Young also recommends that you choose a floor plan with wide doorways and halls, should someone living in the home need to use a wheelchair.

* Don’t create a highly personal custom home if you may move soon.

Perhaps you are a successful musician who would like a state-of-the-art sound studio in your home, complete with acoustic tile and special wiring. Or perhaps you’re willing to trade off an enormous “great room” for a third or fourth bedroom. Then you have atypical tastes in housing and--if you plan to sell soon--should be cautious when you have a custom home designed to suit your preferences, Young says.

The problem with an unusual home is that you could lose money if you put it on the market in just a few years, unless you happen to find a buyer whose tastes are as atypical as yours.

The reality is that many owners of big homes are executives who find it necessary to move often from state to state for career reasons.

How can you be sure that you don’t invest too heavily in home features that won’t pay you back when you sell? “Talk to real estate professionals in your area and find out what features are selling and what aren’t,” Young advised.

To be sure, there are no guarantees. The public’s tastes vary from year to year, making the marketing situation somewhat “fluid,” as Young describes it. Still, some features are consistently popular, such as multiple bedrooms.

“You’re better off knowing what’s selling well now than having no information at all,” Young said.

Distributed by Universal Press Syndicate.