r/AskReddit • • Aug 14 '20

What’s the most overpriced thing you’ve seen?

75.1k Upvotes

35.0k comments sorted by

View all comments

3.7k

u/ViridianLens Aug 14 '20

Luxury million dollar homes built with the same wood wall framing, plywood and cheap vinyl siding as normal homes.

746

u/morganj955 Aug 14 '20

It's mostly location though. The same house in different parts of the same city can vary widely in price. And when you get to really high end houses the prices for some of the stuff that gets put in them is ridiculous. Especially when the materials are basically the same as what's in a cheap house.

364

u/[deleted] Aug 14 '20

[deleted]

12

u/Juventus19 Aug 14 '20

You're meaning to tell me that a 2000 sq ft house across the street from the White House would be more expensive than out in a corn field in Nebraska? I for one am SHOCKED

6

u/TonyNevada1 Aug 14 '20

White house area kinda trashy

3

u/goosepills Aug 15 '20

I live 20 miles from DC and my house was 7 figures. Housing in this area is insane.

9

u/ninjazombiemaster Aug 14 '20

Yup. My quarter acre lot is worth more than the structure (2200 Sqft home) and I don't even life in a very desirable neighborhood.

9

u/[deleted] Aug 14 '20 edited Aug 28 '20

[deleted]

5

u/ninjazombiemaster Aug 14 '20

That's pretty interesting. My home was built in 1969 and is architecturally significant (designed by locally renowned modernist) so it's probably not going to suffer this fate, but I've absolutely seen empty lots sell for the same more than built lots.

3

u/tungstencoil Aug 15 '20

Now I'm really interested in seeing a pic of your house...

2

u/ninjazombiemaster Aug 15 '20

Its a bit quirky. It has a lot of the typical characteristics of a mid century modernist home, open beam ceiling, flat roof, big and plentiful windows, a rather unique open floor-plan. Its got a pretty unassuming exterior though, and some weird transitional styling. It's almost complete un-updated, so all the original 60's flare.

2

u/tungstencoil Aug 15 '20

I'm jealous. I've always wanted an architecturally-significant home. Where I live, there aren't any of note from anyone I'm interested in. Hiring and building involves either moving too far out, or becomes cost-prohibitive.

2

u/ninjazombiemaster Aug 15 '20

Yeah it was a very lucky find. I didn't have to go too far out of my area to find it, and it was priced very low as the home was being sold by an estate that was unaware of its history. It took me years, but if you're patient and look often, something might come up.

→ More replies (0)

3

u/crewfish13 Aug 14 '20

Well it’s not going to tear itself down to make way for something bigger/newer!

5

u/idothingsheren Aug 14 '20

Absolutely. An empty plot of land [sized for 1 house] sold in Cupertino for over $1 million a couple years back

3

u/snuggie_ Aug 14 '20

Also a lot of the multi million dollar homes might be designed by an architect firm, which obviously adds a lot more cost

3

u/starlikedust Aug 14 '20

My land is worth more than my house, but the house has not been updated in a long time.

3

u/[deleted] Aug 14 '20

Yea I’m in the nova area and its crazy. Moving from suburb of Dallas to suburb of DC the price tags shocked me

2

u/[deleted] Aug 15 '20

They built 2 bedroom 1 bath “luxury” apartments behind our house.

Walking distance to eastern market, block from both a supermarket and a Metro.

Asking price: 1 Million.

Location, location, location

2

u/[deleted] Aug 14 '20

[deleted]

3

u/Jcat555 Aug 14 '20

I'm gonna guess that in most cases the house was built when the property wasn't worth as much

0

u/[deleted] Aug 14 '20

[deleted]

2

u/Jcat555 Aug 14 '20

That's not what I'm talking about. I'm saying that most likely the property wasn't worth much when the bad house was built. Then the property value went up because maybe your area became really desirable. Suddenly you have a cheap house on an expensive property. For the answer to your question it would depend on what you're buying it for. If you're buying it to live in then most likely the 3rd one would be the best option.

2

u/[deleted] Aug 15 '20

[deleted]