Cost $18 Million to Build, Sold for $2.1 Million

[Meddle]

“SUPERIOR TOWNSHIP, MI - A Palladian-style mansion that took 10 years and a reported $18 million to build sold at auction for $2.125 million last month.

“Renowned for its "no compromise" style, the “Dogwood Manor" at 8387 Ford Road, northeast of Ann Arbor in Washtenaw County’s Superior Township, was on and off the market for several years.

“But the sellers and buyers wound up at a fair price point for what the Ann Arbor market would allow for, said Scott Kirk, president and CEO for online luxury home marketplace Interluxe.

https://www.mlive.com/news/ann-arbor...s-for-21m.html

[Hermod]

I was in the house a few years back. It was the result of new money and an "Ï always wanted this in a house" which kept the house [[and cost) getting totally out of hand.

[JBMcB]

This is pretty common. At the very high-end, a buyer expects to get exactly what they want, exactly where they want it. If you build something that not a lot of people are going to want, you're going to have to bring the price down if you are going to try to sell it.

One of the most expensive houses in the country sold in California a few years ago for something like 40% of the initial construction / land cost.

[jcole]

What is with 4 bedroom/7 bath? Lot's of visitors, I guess